Australia energy giants Woodside and Santos in talks to create $52 billion gas powerhouse
Publishing timestamp: 2023-12-07 23:33:38
Summary
Santos, an Australian oil and gas company, is in talks to merge with Woodside Energy, another Australian oil and gas producer. The potential merger could create a $52 billion oil and gas behemoth. Both companies have emphasized that there is no certainty that a deal will take place. The talks come amidst a wave of consolidation in the oil and gas industry. Santos shares jumped 11% on the news, while Woodside shares slipped 0.7%. The biggest challenge in the potential merger is finding the right value that would satisfy Santos shareholders.
Sentiment: NEUTRAL
Tickers: PXD, BHP-AU, STO-AU, XOM, WDS-AU,
Keywords: energy, exxon mobil corp, james byrne, santos ltd, oil and gas, bhp group ltd, pioneer natural resources co, environment, woodside energy group ltd, australia, business news, santos,