Santos (ASX:STO) reported first-quarter sales revenue of about $1.27 billion, down from $1.29 billion in the year-ago period, according to a Thursday filing with the Australian bourse.
Sales volume for the quarter was 24.2 million barrels of oil equivalent (mmboe), up from 23.3 mmboe a year earlier, while total production increased to 22.5 mmboe in the first quarter from 21.9 mmboe a year ago, per the filing.
The company maintained its 2026 guidance, including for production volume of 101 to 111 mmboe, sales volume of 101 to 111 mmboe, and capital expenditure of about $1.95 billion to $2.15 billion.
Santos said its Barossa LNG project's floating storage and offloading facility is expected to commence ramping up production in the next week following the completion of the flushing and cleaning of heat exchanger trains.
The company's shares gained nearly 2% in recent Thursday trade.