Analysts back Santos' Conoco buy

SANTOS’ announcement yesterday that it was buying ConocoPhillips’ Northern Australia assets was not unexpected with analysts and market watchers long waiting for another acquisition by the Adelaide oiler after the success of its Quadrant Energy buy last year. 

Analysts back Santos' Conoco buy Analysts back Santos' Conoco buy Analysts back Santos' Conoco buy Analysts back Santos' Conoco buy Analysts back Santos' Conoco buy

Coverage positive for Adelaide’s expansive oiler 

Santos will spend close to US$1.4 billion to take a 56.9% interest in the Darwin LNG project, up from its 11.5% interest now, a 56.9% interest in the Bayu-Undan field reserves also up from 11.