Santos’ March quarter sales have roughly doubled while free cash flow almost trebled as the oil and gas producer reaped the benefits of soaring oil and LNG prices and its merger with Papua New Guinea’s Oil Search.

First-quarter revenue surged to $US1.92 billion ($2.6 billion), up from $US964 million in the same three months of 2021, and 25 per cent higher than in the December 2021 quarter. Free cash flow reached a record $US865 million, up 186 per cent on the year-earlier quarter.