Santos Trims 2026 Output Guidance on Alaska Pikka Disruption
Reuters reported on October 22 that Australian oil and gas producer Santos narrowed its full-year 2026 production guidance to 99-102 million barrels of oil equivalent, from 99-105 million previously, and cut its sales guidance to 102-105 million barrels, citing temporary disruption at the Pikka oilfield on Alaska's North Slope.
The company said delays commissioning Pikka's seawater treatment plant, output constraints after a weather event, and a shutdown of the Kuparuk pipeline following a road accident weighed on the outlook. Pikka output briefly exceeded 80,000 barrels a day before quarter-end; Santos plans to hold it near 70,000 barrels a day in the near term before ramping back toward 80,000.
Third-quarter production rose 23% to a record 26.3 million barrels of oil equivalent, and sales revenue jumped 78% to $2.01 billion, with record operating free cash flow of about $1.07 billion. CEO Kevin Gallagher said the long-expected inflection point has arrived as the Barossa and Pikka projects come online. Santos operates Pikka with a 51% stake, alongside Repsol's 49%.
Published by GSM · USA (original Chinese edition)
Photo: 图：跨阿拉斯加输油管道。摄影：Leonid Berger，CC BY-SA 4.0（Wikimedia Commons）。Photo: the Trans-Alaska Pipeline. Photo by Leonid Berger, CC BY-SA 4.0 (Wikimedia Commons).
