Santos Confirms Oil Search Interest
After Oil Search admitted on Tuesday morning it had recently rejected a takeover approach, Santos issued a statement revealing its proposed $4.25 per share offer.
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Santos Shops Around Part of Dorado Stake
Santos is starting engineering and design work on the Dorado oil discovery off the WA Carnarvon Basin coast as it looks to bring another partner into the venture by selling part of its 80% stake.
Read MoreSTO – UBS rates the stock as Buy
UBS retains a Buy rating and $8.30 target.
Read MoreSantos Goes Ahead With Barossa
Santos has given a green light to the Barossa gas/LNG project, underpinning confidence in the outlook.
Read MoreSTO – UBS rates the stock as Buy
Barossa has achieved a final investment decision which de-risks the project. Santos has an agreement to sell 25% of Darwin LNG and Bayu-Undan on achieving FID at Barossa. UBS retains a Buy rating and raises the target to $8.35 from $8.20.
Read MoreSantos Barossa Project Officially a Go
Santos has given the go-ahead to its $4.7 billion Barossa gas project north of Darwin after its plans were put on hold last year amid the coronavirus-driven market crash.
Read MoreSantos Ready to Pop the Cork on Barossa
The start of work on the Barossa LNG project off northern Australia has moved a step closer with Santos revealing that it has awarded the project’s single largest and most important contract.
Read MoreSTO – UBS rates the stock as Buy
UBS lifts Brent oil price forecast for 2021 to US$65.50/bbl, from US$57/bbl, and 2022 to US$62/bbl from US$60/bbl. Santos remains the preferred exposure across the energy sector with short-term growth catalysts. Buy rating retained. Target is raised to $8.20 from $7.90.
Read MoreENN Sale Sends Santos Shares Southward
Santos shares fell more than 2% yesterday after Chinese group ENN offloaded part of its holding in a $A700 million plus share sale.
Read MoreSTO – UBS rates the stock as Buy
2020 underlying earnings were below UBS estimates because of higher corporate costs and a change in inventory. Buy rating retained. Target is raised to $7.90 from $7.70.
Read MoreSTO – Citi rates the stock as Downgrade to Neutral from Buy
Energy analysts at Citi have increased price expectations for cude oil and LNG. The 2021 Brent oil price forecast moved to US$59/bbl from US$52/bbl. The team sees oil peaking at US$61/bbl in 1Q22. The new price target for Santos is $7.58. Rating has been downgraded to Neutral from Buy.
Read MoreSTO – Morgans rates the stock as Add
With plans for several projects underway, Morgans considers Santos has an attractive combination of growth and solid underlying fundamentals.
Read MoreBullish View Opens Up For Oil
A robust outlook for oil prices is emerging after a volatile and difficult 2020, as high levels of inventory are wound back and producers adjust to the absence of supply investment
Read MoreSantos Shares Unmoved Despite Greenlight For Gas Project
Santos shares fell yesterday in the wider market slide, despite its controversial northern NSW gas project moving one step closer. The NSW Independent Planning Commission announced that it had given “phased approval” for Santos’ $3.6 billion Narrabri gas project in the northeast of the state.
Read MoreSantos, Origin Earnings Slump As Virus Smashes Energy Prices
As forecast, two more oil and gas players have revealed massive slides in earnings – Origin Energy (full year) and Santos (half-year). Santos will still pay a small interim dividend despite a big half-year loss. Meanwhile, Origin Energy just missed the red ink when it reported a 93% plunge in earnings for the year.
Read MoreSTO – Macquarie rates the stock as Neutral
June quarter production and sales were in line with expectations. The company continues to progress Dorado, Barossa and the Moomba carbon capture/storage project. Infill drilling is also being considered to extend the Bayu-Undan field life.
Read MoreSantos Revenue Tanks Despite Record Production
Santos has reported an 18% drop in second-quarter revenue due to lower its oil and gas prices following the massive collapse in April and fitful recovery since then. That was despite record production of 20.6 million barrels of oil equivalent (mmboe) in the June quarter, up from 18.6 mmboe June quarter of last year.
Read MoreSantos Slashes Asset Values As Energy Price Pressures Persist
Oil and gas giant Santos has become the latest local oil and gas group to take the axe to its balance sheet and slash the value of key assets because of the plunge in global prices is expected to continue for much longer than previously forecast.
Read MoreSTO – Macquarie rates the stock as Outperform
Santos has completed its US$1.5bn acquisition of the northern Australia/Timor-Leste assets. Macquarie notes some improvement in the settlement terms.
Read MoreOil War Helps Santos Complete Purchase of ConocoPhillips Assets At A Discount
The COVID-19 pandemic’s impact on demand for oil and gas, on top of the destabilising price war in March and April and the slump in global prices, has come to the aid of Santos.
Read MoreCuts To Oil Production Unlikely To Be Enough
The US has brokered an historic oil production agreement between OPEC, Russia and the G20, although brokers are sceptical about whether this will have enough impact on supply/demand dynamics.
Read MoreWho (Eventually) Benefits From The New Oil Shock
In more normal times – and nothing is normal at the moment – low oil prices benefit the global economy and stocks such as manufacturers and transport companies. Tim Boreham outlines those Australian companies which stand to benefit from significantly lower energy prices.
Read MoreSantos Doubles Down On Production Target After Record Year
Santos has boosted its 2025 production target 20% from the already ambitious target it set only in December.
Read MoreResurgent Santos Overshadows Woodside
Woodside Petroleum and Santos produced very different quarterly reports yesterday.
Read MoreSTO – UBS rates the stock as Neutral
Santos will acquire ConocoPhillips’ northern Australian assets for $1.39bn. The transaction will be funded from free cash flow and $750m in new debt facilities as well as a 25% equity sell-down of Bayu-Undan and Darwin LNG.
Read MoreSantos Seals Deal For ConocoPhillips LNG Assets
Energy producer Santos has announced its second big acquisition in just over a year with the news that it will acquire ConocoPhillips’ Northern Australia assets for $US1.39 billion ($A2.05 billion).
Read MoreSantos Taps “Highest Ever” Oil Flow Rate From Dorado-3 Well
Santos shares are on the rise following a better than expected test report from the much anticipated Dorado-3 well being drilled off the Northwest WA coast.
Read MoreMaterial Matters: Iron Ore, Coal & Rutile
A glance through the latest expert views and predictions about commodities. China infrastructure; iron ore miners; Indian industry; coking coal; oil; and rutile.
Read MoreSTO – UBS rates the stock as Neutral
UBS slightly reduces forecasts for oil prices through to 2021 but retains a long-term oil price at US$70/bbl, which is expected through 2022-24. The revised outlook for the next couple of years reflects a more subdued view on global demand, in line with economic forecasts.
Read MoreQuadrant Rounds Out Strong Year For Santos
The acquisition of WA-baed Quadrant Energy last year for $US2.15 billion (around $A2.9 billion) continues to pay off for Santos and its shareholders with better quality revenue and earnings and yesterday, a near doubling in interim dividend.
Read MoreSantos Eyes Dorado Upgrade After Record Half
Unlike its peer, Woodside Petroleum which revealed a weak June quarter performance, Santos yesterday reported record gas production in the second quarter thanks to a solid performance across its Western Australia gas assets.
Read MoreSantos Upgrades Dorado Oil Find
With US oil prices in a bear market (that’s a 20% plus fall from the most recent peak), you’d think it would not be a good time to be talking up an oil field, especially in Australia. However, that’s what Santos has done.
Read MoreSantos In ‘Exciting’ WA Gas Discovery
Gas is back in the news – suddenly with Santos revealing a huge gas-rich find on the North West Shelf that will add to the company’s reserves in the area and help supply Western Australia (and others) for years to come.
Read MoreEnergy Stocks Hit By Norway Exit
Shares in major ASX listed oil and gas groups were sold off yesterday after Norway’s huge sovereign wealth fund decided to sell billions of dollars of shares in energy groups.
Read MoreSantos Confirms Bumper 2018
2018 turned out to be a big year for Santos – it was a year of record revenue – a year for narrow escapes and a major expansion.
Read MoreSantos Swallows Quadrant
Santos says it has completed the acquisition of Quadrant Energy, a deal that cements its future after the run in with private equity earlier in the year.
Read MoreWoodside, Santos Ride Higher Oil Prices
Solid Q3 production reports from energy majors Woodside and Santos show them catching the recent oil price surge with higher production and sales.
Read MoreResurgent Santos Doubles Down On Growth Targets
Santos shares are up more than 33% this year, topping the 28% advance in the price of Brent crude futures – the key global oil price.
Read MoreSantos Shares On Surge On Return To Profitability, Dividends
A big thumbs up from investors to Santos’ interim result, resumption of dividends and the $2.9 billion buy of Quadrant Energy.
Read MoreResurgent Santos Turns From Hunted To Hunter
Three months after rejecting a $14 billion plus takeover offer from US private equity Santos has gone on the takeover trail itself, buying Quadrant Energy for $US2.15 billion or $A2.9 billion.
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