October 24, 2008
Santos Q3 Revenue Up 16%
Santos, engaged in the production, transportation and marketing of hydrocarbons, has reported revenue of A$730 million for the third quarter of 2008, a 16% increase compared to the revenue for the same period of 2007.
The company reported production of 13.2 million barrels of oil equivalent (mmboe) for the third quarter of 2008, compared to 15mmboe for the same period of 2007.
Year-to-date revenues were A$2.1 billion, compared to A$1.8 billion for the same period of 2007. Year-to-date production was 40.8mmboe, compared to 45.1mmboe for the same period of 2007.
David Knox, CEO of Santos, said: "The outlook for Santos remains positive despite the global financial crisis. The company is performing well. It has a very solid financial position, reinforced by a strong cash balance. All our development projects remain on schedule, and we remain focused on delivering our strategy."