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Santos' Q3 revenue boosted by higher sales volumes

Australian oil and gas producer Santos Ltd. on Oct. 17 reported a third-quarter sales revenue of $1.03 billion, up from the $973 million reported for the third quarter of 2018.

Third-quarter sales volumes came in at 25.2 million barrels of oil equivalent, up substantially from the 20.2 million boe seen a year ago.

Average realized LNG prices came in at $10.04/MMbtu in the third quarter, down from the $10.43/MMbtu seen in the third quarter of 2018. Average realized oil prices also dropped to $70.20 per barrel, from $81.09/bbl in the year-ago period.

Total production for the quarter was pegged at 19.8 million boe, compared to 15.0 million boe in the same period in 2018.