Australia’s Santos Ltd. reported record revenue and production for 1Q2022 from a combination of soaring commodity prices and the end of a merger, despite some offsets from maturing fields.

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The producer posted its first full quarter of earnings since wrapping up a merger with Oil Search Ltd. in December. Management said the volumes and sales numbers ballooned during the period thanks to the addition of liquefied natural gas (LNG) and oil assets in Papua New Guinea and Alaska. 

Soaring oil and natural gas prices pushed those gains even further for a record quarter, especially for its LNG business, according to the company.

LNG sales volumes rose compared to the same period last year, jumping from 1.3 million metric tons (mmt) in 1Q2021 to 1.5 mmt of super-chilled gas...