STO - Santos Limited

Ferret said:

Very odd that this didn't warrant an ASX announcement.

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Since "Climate Change" is the biggest scam since the invention of God, Using indigenous peoples willingly as pawn in the scam....... This will get overturned in a serious higher court where grandstanding and wokeisms are usually reversed.

Great work Santos. Rip these morons apart.




Santos has sought a subpoena to access communications between the Environmental Defenders Office and four climate activist groups in a bid to determine the identities of the financial backers behind a debunked legal claim that caused delays to its $5.4bn Barossa gas project.

Santos in January won a landmark case that threatened significant delays to its Barossa LNG project, which it has earmarked for growth. Santos had indicated it would seek costs but not from the Tiwi Islander who launched the legal action.

The novel move from Santos marks an escalation of its quest for compensation, which could significantly damage to all five environmental activist groups.

Santos chief executive Kevin Gallagher has signalled the company will seek damages from the EDO and others behind the claim, which was forcefully rejected by Justice Natalie Charlesworth in a ruling earlier this year.

In a court hearing on Friday, Santos lodged a subpoena to access communications between the EDO and Market Forces, Sunrise Movement, Jubilee Australia and the Environmental Centre Northern Territory.

Lawyers acting on behalf of Santos argued the four environmental action groups had publicly declared via social media statements that they were involved in the action.

They will just indemnify themselves by disbanding and forming another loser group.

Dead wood???? Efficiencies???

The Carlyle Group and APA weighing up Santos’ WA and Alaskan interests​

By BRIDGET CARTER

• 8:00PM MAY 19, 2024
  

Two US-based suitors are understood to be sizing up Santos assets, with The Carlyle Group thought to be interested in its Western Australia portfolio and Apache Corp (now known as APA) weighing a purchase of its Alaskan interests.
It comes after APA entered into a farm-down lease agreement on assets in Alaska with the APA last year.
DataRoom reported this month that two high-profile oil and gas investors were understood to be in the data room considering the purchase of a 10 per cent stake in the Pikka project in Alaska, jointly owned by Santos and Repsol.
It is understood APA had been assessing an acquisition a few months ago, although it remains unclear if it is still around the hoop and it is one of the two parties in the data room.
Sources say few energy operators have a mandate to carry out projects in Alaska for environmental reasons or they do not have the operational expertise.
Experts believe a deal makes most sense for ConocoPhillips because it has the infrastructure there to extract the most value.
However, it’s unclear whether ConocoPhillips would be prepared to enter into a deal with Santos after tensions emerged over Santo’s Barossa acquisition north of Australia from ConocoPhillips.
Santos renegotiated a contingent payment up to $US200m that was to be made when the project reached final investment decision and the upfront purchase payment was reduced.
Santos had hired Moelis to work on the Alaska sale at least 18 months ago after inheriting the asset in a $21bn merger with Oil Search in 2021.
It owns a 51 per cent interest in Pikka and Repsol owns the remainder, and both owners had earlier been hoping to reduce their interests by about 15 per cent.
The project was earlier estimated to be worth between $US1.5bn and $US2bn, but now may be worth far more on the back of the rising oil price – as much as $US3bn.
Santos and Repsol are half way through the construction of the Pikka project that is due to be finalised in 2026, and should it sell the asset now, it would be at a discount to what it would be worth once finished.
Meanwhile, after missing out on Woodside Energy’s Macedon and Pyrenees assets when withdrawn from the market, it is understood Carlyle may now be holding talks about buying domestic gas assets from Santos in WA.
These include domestic gas plants at Varanus Island, Devils Creek and Macedon and gas, condensate and oilfield offshore projects John Brookes and Reindeer fields.
Santos is the second biggest producer of domestic gas in WA and has been operating since the early 1980s.
The assets could sell for hundreds of millions of dollars, but they are declining assets with abandonment liabilities, and with liabilities included they assets would likely be offloaded for a nominal sum.
A possible deal would be part of a move by Carlyle to gain a presence in the Australian energy exploration market.
It also come as speculation mounts that Santos is preparing to relaunch its sale process for its stake in the Dorado oil and gas project off the coast of WA.
Last year, Santos had Goldman Sachs assessing suitable offers for the interest in the project that it jointly owns with Carnarvon Energy.
A 10 per cent stake in Dorado is Canarvon’s main asset and it is also believed to be placing itself up for sale through investment bank JPMorgan.
CPC has already bought 10 per cent of Dorado from Carnarvon.
Santos has an 80 per cent interest in Dorado and the thinking has been that it remains keen to reduce that exposure to about 60 per cent.

Take Over Target???

Up over 4%

@UMike
from 'Market Matters' morning report:
" Santos (STO) will be in focus first up today with news reports of two separate suitors running their ruler over the Adelaide based energy company."

Not Held

finicky said:

https://www.reuters.com/business/energy/saudi-aramco-adnoc-likely-studying-bids-australias-santos-bloomberg-news-reports-2024-07-03/

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I wonder how Extinction Rebellion will take this news.

Santos shares spike on takeover talk​

Shares in Santos rose this morning after reports two state-owned Saudi oil giants may be looking to take over the Adelaide-based company.

Santos shares were up by nearly 6 per cent in morning trade following a report that Saudi state-owned companies Aramco and Abu Dhabi National Oil Co were planning separate takeover bids for the South Australian energy company.

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At 11am every Monday, Extinction Rebellion protesters gather outside the Santos building, prompting the oil and gas giant to lock its front doors.

Every Monday for more than a year, protesters have gathered outside Santos headquarters in Flinders Street – but it’s an independent cafe inside that feels the heat.

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JohnDe said:

View attachment 179965

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Was it Churchill or some other notable who told the story of propositioning a very proper young lady whether he could bed her for a shilling or a guinea. When she replied with NO to the shilling and " what sort of lady do you think I am? " to the guinea, he said, "We have established what sort of a lady you are, we are now merely haggling over the price."

If some NOC from the Middle East offers me a good $ price for my STO loot, it is gone.

The FT reported today on it as Saudi Aramco and Adnoc out of Abu Dhabi which process LNG from other foreign companies they have taken over.

The reputed figure for STO is $17bn which is $USD I hope.

gg

Thanks @UMike and @finicky for klutzing me about STO on Thursday.

gg

Garpal Gumnut said:

Was it Churchill or some other notable who told the story of propositioning a very proper young lady whether he could bed her for a shilling or a guinea. When she replied with NO to the shilling and " what sort of lady do you think I am? " to the guinea, he said, "We have established what sort of a lady you are, we are now merely haggling over the price."

If some NOC from the Middle East offers me a good $ price for my STO loot, it is gone.

The FT reported today on it as Saudi Aramco and Adnoc out of Abu Dhabi which process LNG from other foreign companies they have taken over.

The reputed figure for STO is $17bn which is $USD I hope.

gg

Thanks @UMike and @finicky for klutzing me about STO on Thursday.

gg

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Does that mean that you would sell your soul for the right price?

JohnDe said:

Does that mean that you would sell your soul for the right price?

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Lol

We all would ….

Unless you don’t believe in capitalism

… I hate capitalism it’s ruined the world ….. but I have something (an asset) and won’t sell it for less than I want …..

Carch22

/s

(Sacsasm)

Gunnerguy said:

Lol

We all would ….

Unless you don’t believe in capitalism

… I hate capitalism it’s ruined the world ….. but I have something (an asset) and won’t sell it for less than I want …..

Carch22

/s

(Sacsasm)

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You speak of yourself. It’s true that the majority would sell everything for the right price, but there are the few that have a principle and fortitude to say no. And there are plenty of examples throughout history.

While the general consensus value for this stock is well over $8.50, for many years it has not reached it.

Might be time to personally reevaluate this, buy the dip and off load them around the $8 or just under mark.

It’s a dog.

Unloaded them a while ago.

Glad I did.

I’m buy and hold. But I don’t hold dog shite for ever.

STO is one of my picks in the 2025. @mullokintyre and it really hasn’t done much price wise over the last few years. It’s an energy stock, more gas LNG than oil unlike WDS to which it is often compared.

It pays a high dividend 6.6% ff but lost over 9% in the past year. It should do better this year as lng is preferable to oil among investors atm. It had a half hearted attempt at being taken over a few years ago by the Saudis and regularly gets marched against by the Greens and other undesirables who don’t wash and who put me off using trams in Melbourne because of their nepo odour.

I feel it is a safer bet than WDS in the Energy sector.

gg

If you bought into Santos in 2004 and kept them, you have gone nowhere.
I bought against my better judgement and when the IMO useless management didn't accept a takeover premium, I sold.
I definitely don't regret it, management keeps telling the shareholders they will do better, but IMO they don't.
Unfortunately one of my never to buy again stocks, I may miss out on a 10bagger, but I wont lose sleep over it.
Let's be honest it doesn't get much better for LNG companies than the last few years.
My two cents worth.