Santos Expects Australia’s First Shale Gas Sales in October
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Santos Ltd., Australia’s third-largest oil producer, said it will begin sales from the nation’s first commercial shale gas project after successful drilling results, driving the stock to the highest level in two months.
The energy company expects first sales in October following the drilling at the Moomba-191 well in the Cooper Basin of central Australia, Adelaide-based Santos said today as it reported a 48 percent decline in first-half profit.