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Posted: 2019-07-18 04:35:19

Major producer Santos has clocked record gas production in the second quarter on stronger output across its Western Australia gas assets.

Production for the three months to June 30 rose to 18.6 million barrels of oil equivalent (mmboe) from 14.2 mmboe last year, the company said. The figure was higher than a Citi estimate of 17.78 mmboe.

WA gas assets boost Santos.

WA gas assets boost Santos.Credit:not for syndication

The company, however, slightly trimmed the upper end of its 2019 sales and production forecast, while raising the lower end. Santos now expects annual sales of 90-97 mmboe and production of 73-77 mmboe.

Liquefied natural gas prices have come under pressure after a mild winter in the northern hemisphere. Sales for the period declined slightly from the first quarter, bringing in revenue of $US959 million. Santos also realised lower prices over the quarter.

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