Santos (ASX:STO) produced 21.5 million barrels of oil equivalent (mmboe) in the fourth quarter ended Dec. 31, 2024, a 1% slide compared with 21.6 mmboe in the prior three-month period and a 5% fall from 23.4 mmboe in the same period a year earlier, according to a Thursday filing with the Australian bourse.

Sales revenue rose 10% quarter on quarter to $1.4 billion, the filing said.

For the full year 2024, production reached 87.1 mmboe, down 5% from 91.7 mmboe a year earlier. Sales revenue declined 9% to $5.38 billion from $5.89 billion.

The oil giant set a 2024 production guidance of 84 mmboe to 90 mmboe.

Santos expects production volumes in the range of 90 mmboe to 97 mmboe for the current year.

The company's shares were up 0.8% in recent trade.