Santos finished an eventful half-year with more big news. The US$2.15 billion acquisition of Quadrant Energy creates a bigger, more domestically orientated company. The recent Dorado oil discovery also gives Santos much needed medium to longer-term growth potential. The other stand-out was the reinstatement of dividends after a two-year hiatus. Higher prices, asset sales in Asia and solid operational performance have given Santos sufficient flexibility to return cash to shareholders.