Santos's 2Q Sales Revenue Could Miss Consensus Hopes

Dow Jones
07/16
 

2250 GMT - Santos's 2Q sales revenue likely jumped sharply on quarter, but RBC Capital Markets thinks it will fall short of consensus hopes. RBC pencils in quarterly sales revenue of US$1.515 billion, up 19% on 1Q. The estimate reflects stronger oil prices and contributions from Santos's new Barossa LNG project in Australia and Pikka oil field in Alaska. Still, RBC's forecast is below the US$1.553 billion anticipated by the market. Analyst Gordon Ramsay says the market is too aggressive with its estimates for LNG pricing. He points to a fall in the Japan Crude Cocktail oil price, which is used to index liquefied natural gas contract prices. "Overall, we expect Santos to realize US$11/mmbtu for its produced LNG, due to a higher proportion of contractual LNG pricing," RBC says. (david.winning@wsj.com; @dwinningWSJ)

 

(END) Dow Jones Newswires

July 15, 2026 18:50 ET (22:50 GMT)

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