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Santos Limited ( (AU:STO) ) has shared an announcement.
Santos Limited has announced the divestment of its 42.86% interest in the Mahalo Joint Venture to Comet Ridge Limited and has completed the sale of its interests in the Petrel and Tern fields to Eni Australia. These transactions are part of Santos’ strategy to optimize its portfolio by monetizing non-core assets, which are not immediate priorities, thereby reinforcing its capital discipline. The divestments are expected to enhance shareholder returns and reduce future decommissioning liabilities, while allowing partners to develop these assets for the Australian domestic gas market.
The most recent analyst rating on (AU:STO) stock is a Buy with a A$7.25 price target. To see the full list of analyst forecasts on Santos Limited stock, see the AU:STO Stock Forecast page.
More about Santos Limited
Santos Limited is a prominent player in the energy sector, primarily focusing on the exploration and production of oil and natural gas. The company is known for its operations in Australia and has a significant market presence in the domestic gas market.
Average Trading Volume: 12,779,658
Technical Sentiment Signal: Sell
Current Market Cap: A$20.29B
For an in-depth examination of STO stock, go to TipRanks’ Overview page.