Tag: Santos
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Top Santos exec quits
Santos chief financial officer Sherry Duhe – who was appointed in September 2024 – resigned today. It comes after a tumultuous year, including a failed takeover bid, for South Australia’s largest company. She will be replaced on an acting basis by Lachlan Harris, who will head up the financials for the state’s largest company. Duhe…
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Santos floating factory gets first gas from Barossa
Santos says it has reached a crucial milestone in putting the Barossa gas field off Darwin into production. A massive floating factory that is the production centrepiece of the $4.7 billion project has received its first gas, the company announced on Monday. The BW Opal is one of the most advanced floating production, storage and…
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Santos shares slide after multibillion-dollar takeover abandoned
Shares in SA-based Santos are down more than 11 per cent in early trade after Abu Dhabi National Oil Company withdrew its proposed takeover offer, believed to be worth $36 billion. ADNOC’s foreign investment arm XRG alongside Abu Dhabi sovereign fund ADQ and private equity firm Carlyle, will not make a binding offer for Santos,…
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Santos name disappears from botanic building
The news emerged that Santos is no longer the naming rights partner of Adelaide’s Botanic Gardens Museum, as protestors urged the oil and gas company to fix a gas leak in Darwin. InDaily understood that a deal with Santos for funding to the Museum of Economic Botany gave it the naming rights until 2029. A…
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Santos profit slumps as suitors get more time
Santos’ profit for the half year ending 30 June 2025 was more than $600 million, down 31 per cent on the prior year. The Adelaide-based oil and gas company said the results were “strong”, with revenue more than $2.5 billion and earnings of about $2 billion for the period. Production volumes of oil were comparable…
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Santos suitors given extra time to finalise $30b deal
Santos has extended its exclusivity period with a consortium so it can complete due diligence and progress to a binding $30 billion transaction. Announced today, the consortium – led by a subsidiary of Abu Dhabi National Oil Company called XRG P.J.S.C. and including Abu Dhabi Development Holding Company and global investment firm Carlyle – has…
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Former Santos boss dies aged 80
Ross Adler, former managing director and chief executive officer at energy giant Santos, has died at age 80. Adler joined the company in October 1984 as Managing Director and was formally appointed Chief Executive in November of that year. He served in that role until his retirement in November 2000. Santos’s current Managing Director and…
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Protestors call for Santos to foot the algal bloom bill
South Australian members of the national environmental activist group Rising Tide gathered at Santos’ offices on Wednesday morning. The group attempted to deliver a box of letters from the community to Santos CEO Kevin Gallagher, but were not allowed in the building. Santos Principal Security spoke to organisers, and the box was taken inside by…
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Santos opens its books to suitor
Santos announced on Friday that the XRG Consortium – a combination of a subsidiary of Abu Dhabi National Oil Company and private equity behemoth Carlyle – has been granted exclusive due diligence access for a period of six weeks. The due diligence follows the signing of a process and exclusivity deed with XRG Consortium as…
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What are the chances of a Santos buyout?
The fact that the Santos share price is languishing well below the takeover offer the company announced this week tells you all you need to know about the prospects of this foreign takeover going through – somewhere between slim and none. On Tuesday morning, the Santos share price actually slipped, down 1.5c to $7.70, well…