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An announcement from Santos Limited ( (AU:STO) ) is now available.
Santos Limited announced that the XRG Consortium, led by a subsidiary of Abu Dhabi National Oil Company, has withdrawn its indicative proposal to acquire Santos. Despite the withdrawal, the consortium maintains a positive view of Santos. The decision was influenced by delays in agreeing on the Scheme Implementation Agreement and concerns over regulatory risks and risk allocation. Santos remains focused on its strategy to deliver shareholder value through its ongoing projects and expects a substantial increase in production and cash flow in the coming years.
The most recent analyst rating on (AU:STO) stock is a Buy with a A$8.30 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 oil and gas industry, focusing on the exploration, development, and production of natural gas and oil. The company is known for its disciplined low-cost operating model and is actively engaged in major development projects such as Barossa and Pikka phase 1, which are expected to significantly increase production by 2027.
Average Trading Volume: 12,563,162
Technical Sentiment Signal: Buy
Current Market Cap: A$24.82B
See more insights into STO stock on TipRanks’ Stock Analysis page.