Page 14 - AsianOil Week 07 2021

AsianOil NEWS IN BRIEF AsianOil

1.56 MMboe) and sales volumes of 2.9 – 3.1 mmboe, free cash flow of US$740 million then commence drilling the 12-1/4” second
MMboe (FY20: 1.54 MMboe). and underlying profit of US$287 million. The intermediate hole section.
“With our acreage located for cost results reflect significantly lower oil and LNG STRIKE ENERGY, February 18, 2021
competitive supply to south-east customers prices compared to the previous year due to
and strong gas market fundamentals, Cooper the impact of the COVID-19 pandemic on Woodside full-year 2020
Energy is ideally positioned to continue global energy demand.
growing production, revenue and cash flow”, The reported net loss after tax of US$357 results
Mr Maxwell said. million includes the previously announced
COOPER ENERGY, February 15, 2021 impairments, primarily due to lower oil price Woodside delivered record full-year
assumptions. production of 100.3 million barrels of
Origin reports half-year final dividend of US5.0 cents per share oil equivalent and its best-ever safety
The Board has resolved to pay a
performance despite the difficult external
results 2021 fully-franked, in-line with the previous conditions in 2020.
year’s final dividend. This brings
The reported net loss after tax of US$4,028
Origin Energy today announced a statutory full-year dividends to US7.1 cents per million was impacted by the non-cash
profit of $13 million for the half-year ended 31 share fully-franked, representing 20% impairments and onerous contract provision
December 2020, reflecting lower underlying of free cash flow and in-line with the announced in July 2020. Sustained operational
profit of $224 million largely due to subdued company’s sustainable dividend policy excellence helped deliver underlying net profit
economic conditions and lower commodity which targets a range of 10% to 30% after tax (NPAT) of US$447 million.
prices associated with the ongoing impacts of payout of free cash flow. The directors have declared a final
the COVID-19 pandemic. Santos Managing Director and Chief dividend of US 12 cents per share (cps),
Underlying EBITDA was $1,154 million, Executive Officer Kevin Gallagher said Santos bringing the full-year dividend to US 38 cps.
down $436 million, as lower commodity delivered record annual production and sales The dividend was based on the underlying
prices flowed through into revenue for both volumes in 2020, and strong free cash flow NPAT of US$447 million.
Energy Markets and Australia Pacific LNG. of US$740 million despite significantly lower Woodside CEO Peter Coleman said production
This was partially offset by lower operating commodity prices. topped 100 million barrels of oil equivalent for the
costs and a net gain in Origin’s oil hedging. SANTOS, February 18, 2021 first time in Woodside’s history.
Free cash flow remained strong at $655 “Strong production outcomes were
million, driven by lower working capital Strike provides West delivered even though we weathered a
requirements, with $265 million in cash direct hit from Tropical Cyclone Damien in
distributions from Australia Pacific LNG Erregulla update February, followed by operational challenges
as well as reductions in capital expenditure, posed by the pandemic.
interest, and tax payments. The strong cash Strike Energy provides an update on the “The outstanding performance of our
flow position enabled Origin to continue drilling operations at WE4 behalf of the base business in 2020 was reflected in our
to invest in growth, reduce debt by a EP469 Joint Venture. low unit production cost of $4.8 per barrel of
further $460 million during the half to $4.7 Since the last update, Strike has oil equivalent and the high reliability of our
billion and continue to deliver returns to successfully completed drilling the 17-1/2” operated LNG facilities.
shareholders. first intermediate hole section to 2,635m and “The decisions to defer the targeted
The board determined an unfranked is currently running the 13-3/8” casing. final investment decision (FID) on our
interim dividend of 12.5 cents per share. Prior to reaching the casing point, Scarborough and Pluto Train 2 developments
Origin CEO Frank Calabria said, hydrocarbon shows were observed in the and the review of the value of our assets were
“Throughout the first half, Origin continued Cattamarra Coal Measures as seen during the appropriate responses to extraordinary market
to navigate the very challenging operating drilling of WE2 and WE3. uncertainty caused by the pandemic and
conditions facing the sector, as the pandemic Strike will finish casing and cementing of lower oil and gas prices.”
caused a reduction in energy demand and the first intermediate hole section and will WOODSIDE, February 18, 2021
depressed prices across key commodities.
“Our two businesses were able to continue
to generate strong cash flow, allowing Origin
to further reduce debt, pay a dividend to
shareholders and invest in select growth
opportunities aligned to our strategic
priorities.”
ORIGIN ENERGY, February 18, 2021
Santos reports record

annual production and
sales volumes

Santos today announced its full-year results
for 2020, reporting record annual production
of 89 mmboe and sales volumes of 107

P14 www. NEWSBASE .com Week 757 18•February•2021