Cover single - Santos

2000 FINANCIAL HIGHLIGHTS & OVERVIEW
8
Sales Revenue a
Santos Record
Santos Delivers
Profit Growth
Higher Production
Delivered in 2000
Operating Cashflow
a Record
• Sales revenues increased
to $1,497 million, up 59%.
• 30% of the increase in sales
revenue came from an increase
in sales volumes and 70% from
an increase in average realised
prices.
• The average realised crude oil
price was up 69% to A$46.54
in 2000.
• Sales volumes increased by
15% to 55.7 million barrels of
oil equivalent.
• Santos reported a 122% rise
in profitability to $487 million.
• Higher sales volumes and
higher realised prices drove
the profit increase in 2000.
• With an A$45 per barrel average
oil price, Santos would expect
to be able to equal the 2000
result in 2001.
• Production grew by 14%
to 56 million barrels of oil
equivalent.
• 2000 is the fifth successive year
Santos has increased production.
• Crude oil production grew by
48% driven by the Barrow and
Thevenard Islands acquisitions
and increased Stag production.
• Gas production increased
by 6% to 215 PJ as a result
of increased production in
Queensland, Western Australia
and Victoria.
• Operating cashflow of $1,023
million is a Santos record.
• Surplus cash flow was used
to reduce debt.
• Proceeds from the sale of the
QCT Resources Limited stake
($326 million) contributed to
debt reduction.
Sales Revenue
Net Profit After Tax
Production by Product
Operating Cash Flow
1600
1400
1200
1000
$million
800
600
400
200
0
769
1998
945
1497
1999 2000
Price
70%
Volume
30%
$million
500
400
300
200
100
0
176
1998
219
487
1999 2000
mmboe
60
50
40
30
20
10
0
46
1998
49
56
1999 2000
$million
1200
1000
800
600
400
200
0
458
1998
530
1023
1999 2000
Sales Gas & Ethane
Crude Oil & Liquids
Sales Gas
Condensate
Crude Oil
LPG