Santos Limited · ASX:STO
Santos — Macquarie Australia Conference 2020
10 slides from Santos's conference presentation, May 5, 2020
Slide 1: Macquarie Australia Conference
Macquarie Australia Conference Kevin Gallagher, Managing Director and Chief Executive Officer 5 May 2020
Slide 2: Disclaimer and important notice
Disclaimer and important notice This presentation contains forward looking statements that are subject to risk factors associated with the oil and gas industry. It is believed that the expectations reflected in these statements are reasonable, but they may be affected by a range of variables which c
Slide 3: COVID-19 response and business update
COVID-19 response and business update No confirmed cases within Santos operations. Assurance and verification controls implemented + Dedicated and centralised Pandemic Task Force + Preventative controls defined and in place + social distancing, self-declaration, temperature measurement, additional c
Slide 4: COVID-19 response and business update
COVID-19 response and business update Strong financial measures taken without compromising health, safety, asset integrity or production 2020 CAPITAL EXPENDITURE $550 million 2020 CASH PRODUCTION COSTS $50 million 2020 TARGET FREE CASH FLOW BREAKEVEN OIL PRICE1 US$25 per barrel 1 Free cash flow brea
Slide 5: Balance sheet remains strong
Balance sheet remains strong Well-positioned in a lower oil price environment + $1.15 billion in cash AMPLE LIQUIDITY1 >$3 billion + $1.9 billion in committed undrawn debt facilities ~70% of 2020 forecast production volumes are either: SIGNIFICANT 2020 PRICING + fixed price domestic gas sales contra
Slide 6: Strong operating performance
Strong operating performance Low-cost, reliable and high performance business through the cycle + Focus on safe, low-cost, efficient operations + Disciplined operating model provides the framework to drive STRATEGY UNCHANGED value + Leverage existing assets and infrastructure + $265 million of free
Slide 7: Acquisition of ConocoPhillips northern Australia interests
Acquisition of ConocoPhillips northern Australia interests Delivers operatorship of high quality portfolio of assets and strategic LNG infrastructure Completion Funding + Acquisition expected to complete in the + Net funding requirement ~$800 million first half of 2020, subject to third-party before
Slide 8: Capital management
Capital management No material near-term debt maturities. ConocoPhillips acquisition fully-funded Drawn debt maturity profile1 + No material near-term debt maturities $million + PNG LNG non-recourse project finance is funded from project cash flows $750 million acquisition debt expected to be refina
Slide 9: Summary
Summary Strong financial measures taken without compromising health, safety or asset integrity. Santos well positioned in a lower oil price environment Comprehensive COVID-19 health, safety and business continuity plans in place $550 million (38%) reduction in 2020 capital expenditure $50 millio
Slide 10: Santos
Santos