Lower volumes due cyclone activity but revenues hold steady.

Improving pricing offsets severe weather impact on sales volumes.

Santos reports a solid quarter on the back of higher commodity prices - yet the shares look undervalued.

High debt levels and low commodity prices were a concern, but agreed sell-downs and a ramp-up of key operations should help.

Shares surged after the announcement of first half fiscal 2026 guidance.

Our view on the chaotic energy markets.

Impressive cost control and record production leads to higher dividend.

Our view after lower earnings.

Our fair value is updated as progress is made on new development projects.

Barossa at 75% capacity and Pikka undergoing commissioning.