STO’s Investor Day highlighted its renewed emphasis on upstream...

STO’s Investor Day highlighted its renewed emphasis on upstream QLD CSG growth to supplement its underutilised GLNG facility. STO is rapidly improving drilling outcomes across its QLD gas portfolio, a well-timed endeavour as third-party supply contracts roll off over the coming years,



QLD CSG drilling improvementsSTO only produces ~70% of gas delivered to GLNG; its purchase contracts are expiring over the coming years. STO needs to replace two key contracts for ~160TJ/d. Recently, STO’s ability to produce more gas from individual CSG wells has improved markedly (Figure 6).This is bringing QLD growth back in focus (Figure 7).We believe this bodes well for future development, particularly for gas beyond 2026 as contracts roll off, with STO able to leverage recent success at new fields.from Petra
STO’s Investor Day highlighted its renewed emphasis on upstream QLD CSG growth to supplement its underutilised GLNG facility.