Deal Insight

Santos and Oil Search agree merger

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11 August 2021

Santos and Oil Search agree merger

Report summary

Santos and Oil Search have provisionally agreed to an all-share merger that will create the largest Australia-listed E&P. With a combined market capitalisation of over US$16 billion, the company will surpass that of local rival Woodside Petroleum. The complementary nature of Santos and Oil Search's interests in Papua New Guinea will increase the combined entity's LNG-focus, a strategically important resource theme for the transition to lower-carbon sources of energy.

Table of contents

Tables and charts

This report includes 9 images and tables including:

  • Executive summary: Table 1
  • Santos and Oil Search production (excluding Alaska)
  • Base case NPV10 (US$50/bbl long-term)
  • Oil & gas pricing and assumptions: Table 1
  • Oil & gas pricing and assumptions: Table 2
  • Combined production outlook and 2P commercial reserves
  • Santos and Oil Search share price performance
  • Santos and Oil Search combined free cash flow and capex
  • Santos and Oil Search combined emissions

What's included

This report contains:

  • Document

    Santos and Oil Search agree merger

    PDF 1.50 MB