Santos' decommissioning liability matches a quarter of its $22b value, but its disclosures to investors fared poorly against the latest accounting standards, according to an international survey.
Australia's biggest oil and gas producer has posted record production and cut costs, but weak fossil fuel prices have weighed on profits
Investors beware: after spending more than $40 million in the Canning Basin, the US-owned company's continued pursuit of remote gas appears to be throwing good money after bad.
The Perth Basin extends 1300km north of Perth and has supported onshore and limited offshore oil and gas production. Major companies in the basin include Mitsui E&P, Beach Energy, Hancock Energy and Strike Energy.
Pilot Energy is a going concern, but its accounts report "a material uncertainty which may cast significant doubt" on that continuing.
The Belisama project inland from Dongara could supply up to 20 per cent of WA's demand from 2029.
A struggling deal between two companies will determine if an unused oil platform off the WA coast is used for carbon storage or needs to be decommissioned.
All the info and a bit of comment on WA energy, industry and climate every Friday
