STO 0.65% $7.75 santos limited

News: Santos improves Q2 production

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    Santos Limited (ASX:STO) has seen second quarter production grow 5 per cent on the previous period with the start-up of the PNG LNG project.
     
    The oil and gas explorer produced 12.8 million barrels of oil equivalent in the quarter with sales revenue up to $974 million. 
     
    CEO David Knox said the start-up of the PNG LNG project had driven the sound second quarter result and built momentum for a stronger second half. 
     
    Guidance for 2014 is maintained at 52-57 million barrels of oil equivalent.
     
    Santos reported a net profit of $516 million in the 2013 calendar year.
 
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