Santos Ltd

STO: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Santos Earnings: Decade-Low Unit Costs, First Barossa Gas and Pikka on Track

Mark Taylor

Feb 18, 2026

Australian hydrocarbon producer Santos reported a 25% decline in 2025 underlying net profit after tax to AUD 898 million. The result reflects steady production of 88 million barrels of oil equivalent, but a 10% decline in average pricing to USD 52.80 per boe. A USD 10.3 cent dividend was declared.

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Santos Ltd

Santos Earnings: Decade-Low Unit Costs, First Barossa Gas and Pikka on Track

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