Financial Performance - Santos reported a net profit of A$818 million ($578.6 million) for the year ending 2025, a 33.9% decrease from A$1.26 billion in the previous year [1] - The underlying profit, excluding significant items, was A$898 million, down 25.2% from A$1.2 billion in 2024 [1] Operational Highlights - The company produced 87.7 million barrels of oil equivalent (mboe), with unit production costs at A$6.78 per barrel of oil equivalent (boe) [2] - Santos executed three liquefied natural gas (LNG) sale and purchase agreements, maintaining high operational reliability [2] Strategic Initiatives - Santos is targeting a headcount reduction of around 10% as major growth projects are integrated into its base business [1][2] - The company achieved its 2030 emissions reduction target of 30% five years early, driven by the Moomba CCS (carbon capture and storage) phase one project [3] Financial Strategy - The financial strategy is underpinned by an operating model targeting less than A$35 per barrel (bbl) free cash flow from operations [4] - Santos has consistently achieved this target since 2016, despite inflationary pressures [5] Growth and Dividends - Strong free cash flow from the base business has supported funding for growth projects and increasing dividends [6] - The company is positioned to expand with financial flexibility to pursue new opportunities while reducing gearing [6]

Group 1: Major Tech Infrastructure Issues - A significant wave of technical difficulties affected major platforms including Cloudflare, Amazon Web Services, and Alphabet, with YouTube reporting over 240,000 user outages in the U.S. [2][3][11] Group 2: Monetary Policy and Economic Outlook - The Reserve Bank of New Zealand maintained its Official Cash Rate at 2.25%, indicating a commitment to an accommodative monetary policy to support economic recovery [4][5][11] Group 3: AI Infrastructure Investment - AI startup Anthropic plans to invest at least $80 billion in cloud services from Amazon, Alphabet, and Microsoft through 2029 to support its AI models [6][7][11] Group 4: Corporate Strategic Moves - Lawson is expanding into the Indian market to leverage growth opportunities amid a saturated Japanese retail landscape [8][11] - Santos is implementing a 10% workforce reduction as part of a cost-saving initiative to enhance operational efficiency in the energy sector [9][11]

Santos is targeting a 10% headcount reduction after Australia’s second-biggest natural gas producer’s profit slumped on lower oil and gas prices https://t.co/Gk2SzW1bpd ...

Geneva sets the tone for mid-February trading, concurrently holding two high-stakes negotiations. The surprisingly positive vibes emanating from US-Iran talks are counterweighed by a much sterner sentiment in the Russia-Ukraine meeting, with the latter being much more bullish for crude amidst intensifying attacks on Russia’s energy infrastructure. ICE Brent has shed more than $1 per barrel after Tehran announced some form of understanding with the US, trading below $68 per barrel.US oil major Chevron (NYSE: ...

An Australian court has dismissed a landmark case against Santos, and more stories on today’s Green Daily https://t.co/lVLCKU3z2d ...

Group 1 - Santos has won a court case against environmentalists who alleged the company misled shareholders about its net-zero intentions [1] - The case was initiated in 2021 by the Australasian Centre for Corporate Responsibility, claiming Santos made misleading statements regarding its plans to achieve net-zero Scope 1 and Scope 2 emissions by 2040 [2] - The Environmental Defenders Office argued that Santos' claims about natural gas being a "clean fuel" and its pathway to net-zero emissions constituted misleading conduct under Australian law [3] Group 2 - The court case was described as a landmark test regarding carbon capture and storage and the environmental impacts of blue hydrogen, which is seen as crucial for gas companies' net-zero strategies [4] - Despite the plaintiffs' efforts, the case did not establish a landmark precedent, as they focused on the language used by Santos regarding its energy transition plans [5] - The rise of greenwashing lawsuits reflects a broader trend where environmental groups are pressuring companies and governments to prioritize emission reductions [6]

A judge dismissed a long-running legal challenge against Santos, which had accused the Australian oil and gas producer of misleading investors over its climate strategy https://t.co/ulfLkKPQIW ...

>> THIS IS "THE ASIA TRADE." I AM SHERY AHN IN TOKYO. >> I AM PAUL ALLEN IN SYDNEY. A BIG WEEK OF EARNINGS AND CENTRAL-BANK DECISIONS.TRADERS LOOKING AT DEEPER FED RATE CUTS. CHINA'S PRESIDENT EMPHASIZES STABILITY AND THE MESSAGE AFTER TOUTING DOMESTIC DEMAND AS THE MAIN DRIVER OF ECONOMIC GROWTH. WARNER BROS.SAID TO CONSIDER REOPENING SALES TALKS WITH GUIDANCE POTENTIALLY EXAMINING A SECOND BIDDING WAR WITH NETFLIX. MARCO RUBIO ISSUES A WARNING TO EUROPEAN LEADERS AT THE MUNICH SECURITY CONFERENCE. SHERY: ...

Financial Data and Key Metrics Changes - The company ended 2025 with a cash balance of $91 million and a drawn debt of $16 million related to the construction of the Sturt Plateau Compression Facility (SPCF) [7][16] - Since the end of the year, Tamboran received $32 million from a PIPE transaction and expects an additional $15 million from an acreage sale to DWE [7][16] Business Line Data and Key Metrics Changes - The second quarter of fiscal 2026 saw the completion of the largest stimulation program in the Beetaloo Basin, achieving 58 stages across a 10,009-foot horizontal section [4] - Construction of the SPCF is approximately 80% complete, with key contracts awarded for electrical work, remaining on budget and on track for first gas in the third quarter of 2026 [5][14] Market Data and Key Metrics Changes - The Beetaloo Basin is connected to three attractive gas markets: the NT local gas market, the Australian East Coast gas network, and the Asia LNG market, which is the largest growing demand center for gas globally [9] - Initial flow rates from well results indicate a comparison to the Marcellus Shale in the U.S., with the Velkerri B showing distinct characteristics [8] Company Strategy and Development Direction - The company aims to deliver significant production growth in 2026, focusing on stimulating three remaining wells and completing the SPCF construction [10][11] - Plans include drilling two backfill wells to mitigate risks and ensure gas supply, as well as participating in two commitment wells with Santos to delineate additional resources [11][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the potential of the Beetaloo Basin as a world-class unconventional gas project, emphasizing the importance of collaboration with stakeholders [3][9] - The company is focused on drilling great wells and learning from every data point to build the investment rationale for large pipelines to transport gas [22][56] Other Important Information - The company is nearing completion of the acquisition of subsidiaries of Falcon Oil and Gas, which will consolidate its interest across the Beetaloo Basin [10] - The farm-out process is ongoing, with credible parties interested, although specific details were not disclosed due to commercial sensitivity [7][36] Q&A Session Summary Question: Background and Opportunities at Tamboran - The CEO discussed his experience in U.S. shale operations and the importance of drilling great wells in the Beetaloo Basin [19][21] Question: Resource Assessment and Well Locations - The CEO clarified that there is no change in strategy, focusing on the Mid-Velkerri B Shale and drilling great wells [25] Question: Soak Period Decision for Well 6H - The CEO explained the decision to extend the soak period to 60 days for consistency with previous wells [35] Question: Expansion of Sturt Plateau Compression and Pipeline - The CEO indicated a strong market for gas sales and the potential for pipeline expansion to support increased production [46] Question: Local Sand Solution Testing - The CEO expressed optimism about local sand lab results and the intention to test it in upcoming wells [51] Question: Operational Cadence and Production Maintenance - The CEO noted that the focus will be on the pilot project, with timelines to be clarified as operations progress [52] Question: Stakeholder Engagement and Government Support - Management highlighted strong support from the government and local communities for the development of the Beetaloo Basin [71][73]

Financial Data and Key Metrics Changes - At the end of 2025, the company had a cash balance of $91 million and drawn debt of $16 million related to the construction of the Sturt Plateau compression facility [7][16] - The company received $32 million from a PIPE transaction in January 2026 and expects an additional $15 million from an acreage sale to DWE [7][16] Business Line Data and Key Metrics Changes - The second quarter of fiscal 2026 saw the completion of the largest stimulation program in the Beetaloo Basin, achieving 58 stages across a 10,009-foot horizontal section [4][12] - Construction of the Sturt Plateau compression facility was approximately 80% complete at the end of January 2026, remaining on budget and on track for first gas in the third quarter of 2026 [5][14] Market Data and Key Metrics Changes - The Beetaloo Basin is connected to three attractive gas markets: the NT local gas market, the Australian East Coast gas network, and the Asia LNG market, which is the largest growing demand center for gas globally [9] - The company is nearing production, which will provide local energy supply and royalties to native title holders and the Northern Territory government [9] Company Strategy and Development Direction - The company aims to focus on drilling great gas wells in the Beetaloo Basin, leveraging the expertise of its management team and partners [56][57] - Plans include stimulating three remaining wells to achieve a plateau rate of 40 million cubic feet per day ahead of initial gas sales [6][11] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the support from local stakeholders, including the government and native title holders, emphasizing the economic benefits of gas development [71][73] - The company is focused on learning from every data point and improving operational efficiency to enhance production outcomes [22][70] Other Important Information - The company is progressing the farm-out process but did not provide specific details due to commercial sensitivity [6][37] - The acquisition of subsidiaries from Falcon Oil and Gas is nearing completion, which will consolidate the company's interests in the Beetaloo Basin [10] Q&A Session Summary Question: Todd's background and its relevance to Tamboran - Todd discussed his experience in remote operations and the importance of working with local stakeholders, emphasizing the need to drill great wells in the Beetaloo [21][23] Question: Changes in resource or well location assessment - Todd clarified that there was no change in strategy and that the focus remains on the Mid-Velkerri B Shale [25] Question: Soak period decision for the 6H well - Todd explained that the soak period was extended to 60 days for consistency with previous wells, aiming to minimize variables in data collection [35] Question: Expansion of the Sturt Plateau compression and pipeline - Todd indicated that there is a market for gas sales and that the pipeline is designed to support expansion up to 100 million cubic feet per day [46] Question: Local sand solution testing - Todd mentioned that lab results for local sand look promising, and they plan to test it in upcoming wells [51] Question: Operational cadence for maintaining production - Todd stated that the focus is on the pilot project, and specific timing for production growth will be assessed as operations progress [52] Question: Stakeholder support and government relations - Todd highlighted strong support from local stakeholders and the government, emphasizing the benefits of gas development for the community [71][73]