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OPERATIONS

Santos exceeds cash flow target, hitting US$1.5 billion

SANTOS managing director Kevin Gallagher promised shareholders in July the company would hit US$1.1 billion in free cash flow by the end of 2021, however the spike in oil and gas prices has seen his promise exceeded, with cash flow hitting $1.5 billion - more than double the level in 2020.

Mark Tilly
Santos CEO and MD Kevin Gallagher

Santos CEO and MD Kevin Gallagher

The company's quarterly said the figure was built on record annual production of 92.1 million barrels of oil equivalent, inclusive of Oil Search's 1.7MMboe production figure. Santos has become a global...

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