2315 GMT - Santos's 4Q production report could disappoint investors, says Goldman Sachs. Santos is due to update the market on Jan. 23 and Goldman's production forecast is 2% below consensus hopes while the bank also anticipates a 1% miss on sales volumes. "We estimate LNG sales improved 20% quarter-on-quarter and our estimates are 5% above consensus primarily from seasonal shaping at GLNG," says Goldman, referring to Santos's gas-export project in Australia. Still, it projects domestic gas sales were 13% below consensus due to lower production at Moomba and Devil Creek, and because it prioritized supply from GLNG toward export markets. "We expect Santos will provide 2025 guidance, and estimate 92 million BOE total production and US$2.3 billion total capex for the year," Goldman says. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
January 15, 2025 18:16 ET (23:16 GMT)
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