)
Business
Adelaide-based Cooper Energy will buy back the Orbost Gas Processing Plant in Victoria for at least $270 million, as east coast spot gas prices continue to rise.
)
Business
Santos has posted record quarterly revenue from oil and gas sales, with the company cashing in on surging commodity prices and its merger with Oil Search.
Get InDaily in your inbox. Daily. The best local news sent straight to your inbox every workday at lunchtime.
Thanks for signing up to the InDaily newsletter.
Adelaide-based oil and gas company Cooper Energy has reported a statutory net loss after tax of $86 million, citing value write-downs and project delays.
South Australia’s largest company Santos has reported a $402 million ($US289 million) loss for the first half of 2020, following months of low oil and gas prices and the coronavirus pandemic.
South Australia’s largest company Santos has reported an 18 per cent drop in second-quarter revenue due to lower realised prices for its oil and gas, but said production from its core assets is expected to remain steady in the near term.
Adelaide-based oil and gas producer Santos has posted a seven per cent rise in annual net profit, as a jump in production helped offset weaker commodity prices across the year.
