(Reuters) – Australian oil and gas producer Santos posted a 7% fall in first-quarter sales revenue on Thursday, hurt by lower crude sales volumes and weak realised prices for domestic gas and oil-linked LNG sales contracts. The country’s second-largest independent gas producer said sales revenue for the three months ended March 31 came in at […]
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Australia’s Santos posts 7% fall in first-quarter sales revenue
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(Reuters) – Australian oil and gas producer Santos posted a 7% fall in first-quarter sales revenue on Thursday, hurt by lower crude sales volumes and weak realised prices for domestic gas and oil-linked LNG sales contracts.
The country’s second-largest independent gas producer said sales revenue for the three months ended March 31 came in at $1.29 billion, missing a Visible Alpha consensus estimate of $1.32 billion.
It reported $1.40 billion in sales revenue a year ago.
(Reporting by Aaditya Govind Rao & Sherin Sunny in Bengaluru; editing by Alan Barona)