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Mixed energy results for Australia's Santos

July 19, 2013 at 7:28 AM   |   Comments

ADELAIDE, Australia, July 19 (UPI) -- Australian energy company Santos said Friday its second quarter natural gas production was 6 percent lower than the same time last year.

Santos released second quarter production figures Friday, saying production was at 8.9 million barrels of oil equivalent, or 6 percent lower year-on-year. It posted an increase in production from some of its assets in Australia but those gains were offset by lower production in Indonesia.

Its primary gas outlook was buoyed by discoveries off the western coast of Australia.

Santos announced Thursday it made a natural gas discovery at its Winchester-1 exploration well in the Carnarvon basin off Western Australia. The company said the well revealed significant amounts of natural gas.

Santos said its crude oil production for the second quarter was 27 percent higher than the previous quarter because of new start-ups in Australia.

Sales revenue for the company was up 8 percent from first quarter 2013 to $797 million, which Santos attributed to higher prices.

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