Relative Performance, page-41

Also, if producers are forced to spend within cash flow, the true nature of the producer's ability to "grow within cash flow" starts to surface. As shale production declines steeply in the first year, most shale producers have to replace at least 30%-plus of their production volume each year. That means if you stop investing entirely, production volume would decline 30% at least.
From Seeking Alpha.

Shale oil is seriously a glorified version of a Ponzi Scheme... Drill more wells for growth if not production will decline...

It seems Santos is indeed growing within Cashflow

Upstream equity sales gas production was 6% higher than the previous quarter and 36% higher than the corresponding
quarter primarily due to production enhancements in Fairview and stronger field performance in Roma. Forty-one
development wells were drilled in the GLNG fields in the second quarter, with a further 18 top holes batch-drilled and
suspended for further deepening as at the end of the quarter. Santos is now targeting to drill approximately 170 GLNG
wells in 2017, up from original guidance of 130-150 wells.


Hence Santos can drill more wells within CASHFLOW! SANTOS is drilling for profit and drilling to avoid the ADGSM thingy... and now that ENERGY minister has resigned! it seems all good now..

THIS SICK DOG, just tooks some medicine and now walking again, wait till it runs, after 1 Sep when the New minister announce NOPE there is no Shortage.. MOVE ON! EXPORT MORE..... Selling to Domestic @ $4.6 doesn't make sense! and all the people demonize you for exporting and blame you for the high gas price.. when in actual fact, it's not SANTOS.. IT's the pipeline monopoly and the other "middle" men profiteering!