Santos (ASX:STO) explores for and produces natural gas, crude oil, condensate, naphtha and liquid petroleum gas. The Company conducts major onshore and offshore petroleum exploration activities at oil and gas fields in Australia (Cooper/Eromanga Basins), the United States (Gulf of Mexico), Indonesia and Papua New Guinea. STO is Australian based and is member of S&P/ASX 200.
Santos revealed its fourth quarter production was down 9% on-year, whilst revenue was up 25% in the same period to $750 million.
The company also reported full year production down 5%, with a 14% increase of revenue to $2,530 million.
STO reaffirmed the 2012 guidance provided in November, which was a production range of 51-55 million barrels of oil.