STO - Santos Limited

Garpal Gumnut said:

I'm a Democrat by nature but see them beset by a form of political leprosy atm. and would prefer a RINO, which seems in reality impossible given the strive in which the RNC finds itself.

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Very nice to see you can still rise to the occasion and respond to the bait

All the very best dig.

bux

Good afternoon,
Santos has maintained 2022 production guidance at 103-106 million barrels of oil equivalent and sustaining capital expenditure guidance at $US1.1bn.

Major projects capital expenditure in 2022 is expected to be approximately $US1.2bn, the mid-point of the previous guidance range while 2022 unit production costs are expected to be at the lower end of the $US7.90-8.30/boe guidance range.

Production in 2023 is expected to be in the range of 91-98 mmboe, influenced by the end-of field-life at Bayu-Undan, timing of completion of the expected sell-down of a five per cent stake in PNG LNG and lower Western Australia domestic gas production.

STO investor briefing attached as published today (08/11/22)

Have a very nice day, today.

Kind regards
rcw1
Edit: attached attachment silly billy rcw1 was to big to attach link is

and further
Santos has split its business in two with a new energy solutions arm in addition to its mainstay oil and gas business as it seeks to reposition the company to meet net zero emissions goals.

The company will be divided between an upstream gas and liquids business and an energy solutions unit as part of its new mantra concentrating on backfilling and sustaining oil and gas supplies, boosting decarbonisation and building a bigger clean fuels division.

The upstream business will include three LNG projects – PNG LNG, Gladstone LNG and Darwin LNG – along with Santos east coast and west coast domestic exploration and production with earnings of $US2.6bn in the first half of 2022.

The new focus replaces the transform, build, grow focus introduced by chief executive Kevin Gallagher amid increasing scrutiny of the medium term role of fossil fuels in the economy.
"Given the strong customer demand for our product now and into the future, we will seek to backfill and sustain our core assets to deliver the critical fuels the world needs into the 2040s," Mr Gallagher said.

"But we will also decarbonise these critical fuels, in-line with our target of net-zero emissions (scope 1 and 2, equity share) by 2040, and produce clean fuels as customer demand evolves. This will provide a low carbon intensity base business that will provide a strong foundation to provide sustainable shareholder returns and fund the energy transition."

Go Woke Go down %6

rcw1 said:

and further
Santos has split its business in two with a new energy solutions arm in addition to its mainstay oil and gas business as it seeks to reposition the company to meet net zero emissions goals.

The company will be divided between an upstream gas and liquids business and an energy solutions unit as part of its new mantra concentrating on backfilling and sustaining oil and gas supplies, boosting decarbonisation and building a bigger clean fuels division.

The upstream business will include three LNG projects – PNG LNG, Gladstone LNG and Darwin LNG – along with Santos east coast and west coast domestic exploration and production with earnings of $US2.6bn in the first half of 2022.

The new focus replaces the transform, build, grow focus introduced by chief executive Kevin Gallagher amid increasing scrutiny of the medium term role of fossil fuels in the economy.
"Given the strong customer demand for our product now and into the future, we will seek to backfill and sustain our core assets to deliver the critical fuels the world needs into the 2040s," Mr Gallagher said.

"But we will also decarbonise these critical fuels, in-line with our target of net-zero emissions (scope 1 and 2, equity share) by 2040, and produce clean fuels as customer demand evolves. This will provide a low carbon intensity base business that will provide a strong foundation to provide sustainable shareholder returns and fund the energy transition."

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And I cry.. we got fXcked and re fXcked by China for 20y, and we want more of it, destroying any remaining strong business with BS science pretext... FFS

Put my money where my tip 2023 is buy buying more @$7.01 a while ago.
Stunned by the value fellow investors are pushing it atm.
In a position to accumulate more if I feel a bit more confident. Got a lot already. Pretty sure it will get all the Legals behind in in 2023.

Might even take over CVN if the conditions are right. I mean why continue buy back if full control of joint projects are in their best interests.

UMike said:

Put my money where my tip 2023 is buy buying more @$7.01 a while ago.
Stunned by the value fellow investors are pushing it atm.
In a position to accumulate more if I feel a bit more confident. Got a lot already. Pretty sure it will get all the Legals behind in in 2023.

Might even take over CVN if the conditions are right. I mean why continue buy back if full control of joint projects are in their best interests.

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One of the stocks I avoid, I've been burnt in the past with them, they seem to struggle during good times so I really find it hard to get excited about them. But best of luck Mike.

Thanks.
Just checked in the early days I had a couple of losing trades but been great since then. Especially the early days of COVID

I struggled with BHP though..... Go figure.

ASIC monitoring Santos court action over "Greenwashing claims"​

The corporate regulator says it is “monitoring” legal action brought against Santos by climate-focused shareholder advocates as part of its action against misleading environmental disclosures.
In an internal memo prepared by the Australian Securities & Investments Commission, officials note their interest in the legal proceedings are part of the agency’s work on sustainable finance.

“Currently, (the) Office of Enforcement has a number of greenwashing investigations on foot, involving potential misleading or deceptive conduct breaches by various listed entities, super fund trustees and a managed fund responsible entity,” the memo, prepared in September for use by the regulators’ staff at parliamentary hearings, reads.

The document also notes most of these investigations are at an “early stage” and relate to suspected misleading statements on net-zero targets, emissions reduction goals and whether companies are providing the screening on sustainable finance products.

“ASIC is monitoring the greenwashing case brought by the Australasian Centre for Corporate Responsibility … regarding representations that Santos’ natural gas product is ‘clean fuel’ and that Santos has a credible and clear plan to reach net-zero emissions by 2040,” it reads. Further commentary about the proceedings have been redacted.

The ACCR, which presses listed companies to accelerate their emissions reduction plans and to be clearer about their sustainability efforts, filed against Santos in August 2021, alleging its description of natural gas as a “clean fuel” was a misrepresentation.

The ACCR also alleges the company is misleading investors about its plan to achieve net-zero emissions by 2040, with Santos increasing its natural gas operations instead. The group claims Santos’ net-zero pathway depends on an undisclosed assumption about the effectiveness of carbon capture and storage.

The matter is due before Federal Court judge Michael Lee next month before hearings start later in the year. The ACCR’s executive director, Brynn O’Brien, told The Australian that companies – “especially major listed emitters” – needed a credible plan to deliver their net-zero commitments.

“Investors rely on these company commitments in order to make serious decisions about the allocation of capital, including about how the retirement savings of Australian workers are invested,” she said. “We think Santos’ … targets, and the feasibility of meeting them in real-world terms, deserve close scrutiny. We have asked the courts to do that. If ASIC is also going to take a closer look, we certainly welcome that.”

Santos says CCS is “a critical technology” for meeting the Paris Agreement targets, and the company is developing several projects including in South Australia, which will be one of the biggest in the world when it starts in 2024. The Moomba CCS project was registered with the Clean Energy Regulator in November 2021.

Santos declined to comment, as did ASIC, except to note an October speech by Karen Chester, the regulator’s deputy chair, in which she warned “the economic costs of greenwashing cannot be overstated”.

“Companies or funds engaging in greenwashing attract capital at the expense of others that are more worthy – creating costly inefficiencies,” Ms Chester said.

Another activist shareholder group, Market Forces, in August made a complaint to ASIC about what it claims were misleading statements from Santos justifying new oil and gas fields. However, the regulator has not raised this complaint with the company.

Santos’ emissions profile and targets have long been controversial, with climate-focused groups questioning whether it was being clear with investors. A review of its sustainability report authored by the Institute for Energy Economics and Financial Analysis in April accused Santos of hiding an increase in emissions – due to its acquisition of Oil Search – “in a table on page 54”. “Santos does not disclose its emissions upfront in its chair’s message or its chief executive officer’s introduction, a somewhat glaring omission for an annual climate report,” wrote the IEEFA’s Bruce Robertson.

ASIC took its first greenwashing action in October, against listed gas developer Tlou Energy.

KYLAR LOUSSIKIAN BUSINESS EDITOR​

PERRY WILLIAMS SENIOR BUSINESS WRITER​

Thinking of trading the floor.


STO Buyback propping it up?

Good afternoon

Just published today 21/02/23:

Environment Minister Tanya Plibersek has given the green light for a new gas expansion project in Queensland, which threatens to derail Labor’s ongoing negotiations with the Greens to win support for the government’s key climate change policy.

The Australian can reveal Ms Plibersek on Friday approved an application from energy giant Santos to construct and operate up to 116 gas wells and supporting infrastructure in the Surat Basin, for an operational life of 30 years.

The approval comes as Climate Change and Energy Minister Chris Bowen undertakes negotiations with the Greens in a bid to get Labor’s safeguard mechanism through the upper house, with the minor party threatening to block the carbon credits scheme without a ban on fossil fuels.

With the Coalition opposing the safeguard mechanism, the federal government needs the votes of the Greens’ 11 senators and two crossbenchers to get its carbon credits regime through the Senate.

Greens Leader Adam Bandt has pledged to work with Labor “in good faith” but warned new coal and gas projects would “make the climate crisis worse”.

Mr Bandt has suggested Labor could compromise on the Greens‘ demand for no new goal and gas projects via a climate trigger, but senior government sources said there was “no appetite” to make major concessions to the Greens and they were not considering blanket bans on fossil fuels projects.

Not holding

Kind regards
rcw1

From an impartial view of a non-holder with no vested interest or conflicts, STO appears within my scans for the week and with further analysis it's clear that a technical set-up and resistance levels are currently present at $6.99 and $6.88 in the short term. Elliott Wave traders may be quite interested with the underlying technical set-up also that may explain the continual falling share price since mid-March and suggesting a target of about $6.50. The short term support level at $6.77 does still exist, but investment/trading sentiment appears to remain negative and a test of this support level appears to be currently 'in play'. Further discussion is also available in my weekly video available at the link below (sections of interest would include the sector breakdown involving the materials sector, as well as the top-down sector analysis for potential trades including STO - sections timestamped in the description area of the video).

Hi Miner……..STO as requested……

I last looked @ Financials for STO back on 24/3/23……their IV then was Between $7.48 to $8.19……

My FA is as follows:-……..



My current day TA is as follows:-………


Overall ST Trend atm is DOWN….

Technicals, incl Indicators, do not yet show any clear direction…..

Candles are very confused atm – still waiting for a Bullish Piercing or a Bullish Kicking, see my "TA Help for Beginners” Forum for an explanation on those 2…..Post #139, page 7....

Sup & Res Lines are hard to pick – I can only see the $6.90 line…..bearing in mind I look for 5 or more touch points for the line (see page 35)……
The Normal Published Theory that the “Sheep” use is for a Minimum 3 Points of Contact for a Trend Line….

Most Brokers & Professional Analysts (Nowdays) rely on a minimum of 5 Contact for a Trend Line….

Relying on one or 2 contact point is pretty useless….


Still too many unknowns for me - STO are not on my hit list atm.

Finally The TradingView Analysts are also non-committal on STO atm…..



Cheers…..

DrB.

sptrawler said:

One of the stocks I avoid, I've been burnt in the past with them, they seem to struggle during good times so I really find it hard to get excited about them. But best of luck Mike.

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Looks like I'm not the only one with that opinion.

Super funds under fire over Santos investments​

Lobby group Market Forces has co-ordinated a move by 20 super fund members to force their funds to explain investments in energy giants Santos.

Maximise profits.

Pretty Farken easy explanation.

UMike said:

Maximise profits.

Pretty Farken easy explanation.

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Just check their long term share price and it seems to be that they go nowhere, which is strange because they should be killing the pig.

They Go up and down.
Anyone with any macro knowledge will do well with this one. Anyone Buying and Holding not so well if the timing is out.

Legal, Legislative and Price Of Oil/LPG are real concerns now. Get through that and there is a lot of potential.

Lobby group Market Forces have no idea about free Markets.
Or if they do only want to bring them down for their own corrupt political gains.

Good evening,

Santos expects to hit deadline for Barossa gas project​

Santos has committed to delivering its $US3.6bn Barossa gas project in the Northern Territory by the first half of 2025.
Perry Williams
May 3, 2023 - 7:58PM
The Australian Business Network
Santos has committed to delivering its $US3.6bn Barossa gas project in the Northern Territory by the first half of 2025 despite a hitch in its environmental permit after it lost a Federal Court appeal over insufficient consultation with traditional owners.
Drilling was halted in September last year after Tiwi Island traditional owner Dennis Tipakalippa won a Federal Court case that found Santos had failed to adequately consult traditional owners, bringing its drilling activities to a halt.

Santos said in April it expects to resume drilling before the end of the year but some analysts remain cautious about delays hitting the project.

Still, Santos boss Kevin Gallagher said on Wednesday he was confident the producer would hit its target.

“We can still deliver the project in time for the first half of 2025,” Mr Gallagher told the Macquarie Australia conference.
Meanwhile international energy companies may run the ruler over a takeover bid for Santos given it has underperformed its peers over the last 18 months, broker E&P Financial said.

Energy majors Total, BP & ConocoPhillips could all be potential acquirers and all have LNG exposure which represents 75 per cent of Santos’ valuation.

“BP is short LNG versus its global peers. ConocoPhillips is already a substantial investor in Australian LNG (and Alaska). TotalEnergies is involved in Papua LNG and GLNG and a substantial investor in Russia which may be viewed less favourably going forward,” E&P said. “US independents are also a possibility albeit the current regulatory uncertainty could be less attractive.” The broker said Santos should not deviate on its strategy, noting its free cash yield will improve over the next few years as growth is delivered.

“The market will ultimately re-rate this on execution. If not, global acquirers might,” E&P analysts led by Adam Martin said.
Santos’ relative underperformance was due to declines at Darwin LNG, giving the go-ahead on Alaska after appearing lukewarm on the project, uncertainty on Barossa approvals and federal government intervention in the market, according to the broker.

“Investors are becoming increasingly frustrated. The question is whether international energy companies are noticing this performance and whether there might be appetite for M&A. We have fielded a number of investor inquiries on the topic. There is also investor interest as to whether some of its growth projects will be completed,” Mr Martin said.

There has been several takeover offers years ago from memory and they still havent performed IMO.
Pizz poor management IMO, others may have a different opinion.