Barossa Enters Into Exclusive Negotiations with Darwin LNG. No Change to AUD 8.15 FVE.
Santos’ announcement that the Barossa joint venture has entered into exclusive negotiations with Darwin LNG increases our confidence that we are right to forecast about an 80% increase in group production to over 100 million barrels of oil equivalent, or mmboe, by 2025. We maintain our AUD 8.15 fair value estimate, and despite trading at AUD 7.20, the shares remain undervalued.In September 2018 no-moat Santos outlined plans to grow production by two thirds to more than 100 mmboe by 2025 from 20...
Santos is a natural gas company engaged in the exploration for, and development, production, transportation and marketing of, hydrocarbons. Co.'s operating segments consist of five key assets/operating areas of: Cooper Basin; Gladstone LNG; Papua New Guinea; Northern Australia; and Western Australia gas; based on the nature and geographical location of the assets, plus Other non-core assets. Co.'s proved petroleum reserves were 485.0 million barrels of oil equivalent at Dec 31 2016.
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