2223 GMT - Santos's output guidance for 2025 exceeds bull Goldman Sachs's forecasts. Santos expects to produce between 90 million and 97 million barrels of oil equivalent this year, supported by the Barossa natural-gas project which is targeted for startup in 3Q. Goldman Sachs had tipped 92 million BOE, so the guidance represents a 1.6% beat at the midpoint of the range. The bank says Barossa output can help to offset the impact of a forecast decline in crude-oil prices, supporting Ebtida of US$3.6 billion this year. Santos ended Thursday at A$7.13, up 12% since hitting a low in December. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
January 23, 2025 17:23 ET (22:23 GMT)
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