The Santos Ltd (ASX: STO) share price is charging ahead of the S&P/ASX 200 Index (ASX: XJO) today.

Shares in the ASX 200 energy stock closed yesterday trading for $5.49. At the time of writing, shares are swapping hands for $5.66 apiece, up 3.0%.

That's well ahead of the 0.3% gains posted by the benchmark Aussie index at this same time.

In a better like-for-like comparison, the S&P/ASX 200 Energy Index (ASX: XEJ) is up 2.7% today, buoyed by an uptick in oil prices. Brent crude oil gained 0.5% overnight to trade for US$66.16 per barrel.

The Santos share price also looks to be getting a boost following the release of the company's quarterly report for the three months ending 31 March.

Here are the highlights.

Santos share price lifts on production uptick

The Santos share price is burning bright after the company reported producing 21.9 million barrels of oil equivalent (mmboe) over the quarter, up 2% from the December quarter.

Sales volumes of 23.3 mmboe dipped 1% quarter on quarter, with the 3% increase in LNG sales offset by lower liquids sales.

Sales revenue slipped 8% to US$1.29 billion. However, Santos achieved strong free cash flow from operations of around US$465 million, up 9% on the prior quarter.

Investors will also have taken note that capital expenditure was down 12% from the prior quarter to US$613 million.

On the major project front, Santos reported Barossa LNG is now 95.2% complete.

And Pikka phase 1 is 82.2% complete. First production is still expected in mid-2026, but Santos hinted that an early startup could be in the works.

What did management say?

Commenting on the results helping to boost the Santos share price today, CEO Kevin Gallagher said:

The business remains strong and resilient, maintaining free cash flow from operations breakeven oil price less than US$35 per barrel in 2025.

Despite volatile capital markets and commodity prices, Santos stayed focused on operational and project execution excellence, and the company continued to perform well. Our LNG contract portfolio provides flexibility and positions Santos to capitalise on emerging market opportunities amid ongoing volatility.

As for the growth project, Gallagher added, "When the Barossa and Pikka projects come online, production is expected to increase by more than 30% by 2027."

What might investors expect next for the Santos share price?

While energy prices remain outside of the company's control, Santos pleasingly did reaffirm its full year guidance.

The ASX 200 energy stock expects to produce 90 to 97 mmboe, with sales volumes of 92 to 99 mmboe. Unit production costs are forecast to come in the range of US$7.00 to US$7.50 per barrel of oil equivalent.

With today's boost factored in, the Santos share price remains down 16% in 2025.