Santos Limited (STO) Q4 2025 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:01.668 -- 00:00:06.694 Good morning and welcome to the presentation of Santos' 2025 full year 00:00:06.694 -- 00:00:08.236 results. 00:00:08.236 -- 00:00:11.780 I'm speaking today from the traditional lands of the Gardiner people of the Adelaide 00:00:11.780 -- 00:00:16.406 Plains and pay my respects to elders past and present. 00:00:16.406 -- 00:00:21.352 I also acknowledge and recognise the support of traditional owners and indigenous people 00:00:21.352 -- 00:00:25.634 everywhere Santos operates around the world. 00:00:26.017 -- 00:00:32.423 Before we start, I draw your attention to the usual disclaimer on slide two. 00:00:34.405 -- 00:00:39.211 Santos delivered a strong result despite lower commodity prices, with the base business 00:00:39.211 -- 00:00:45.159 continuing to demonstrate the resilience of our disciplined, low-cost operating model. 00:00:45.159 -- 00:00:49.244 I'll begin with an overview of our results before handing over to our Chief Financial 00:00:49.244 -- 00:00:53.309 Officer, Lockie Harris, to present the financial details. 00:00:53.309 -- 00:00:57.655 Our Chief Operating Officer, Brett Darley, will then discuss the operational performance 00:00:57.655 -- 00:01:01.860 of our base business. Following Brett's presentation, I'll take you through our outlook 00:01:01.860 -- 00:01:04.865 and strategic priorities for 2026. 00:01:04.865 -- 00:01:08.186 Then we'll open the call up to questions. 00:01:09.069 -- 00:01:10.791 In 2025, 00:01:10.791 -- 00:01:15.615 personal and process safety performance were outstanding, with Santorff ranking the top 00:01:15.615 -- 00:01:20.740 quartile of our sector globally for personal safety and outperforming 00:01:20.740 -- 00:01:23.803 the global benchmark for process safety. 00:01:23.803 -- 00:01:29.86...