Australia's Santos slips on Q1 revenue fall

STO

18/04/2024 02:20

** Shares of Santos  STO.AX  fall as much as 0.4% to A$7.690
    ** Australian oil and gas producer reports 14% fall in Q1
revenue to $1.40 bln
    ** STO produced 21.8 million barrels of oil equivalent
(mmboe) in Q1, compared with 22.2 mmboe in pcp
    ** Analysts at Citi say STO's production in line with their
estimates, but future PNG LNG production may be at risk
    ** Brokerage retains price target of A$7.72/shr and
"neutral" rating
    ** Broader energy index  .AXEJ  up 0.2% at 0053 GMT
    ** Stock had risen 1.2% this year, as of last close

 (Reporting by Shivangi Lahiri in Bengaluru)
 ((shivangi.lahiri@thomsonreuters.com))