Santos takes $US690m hit due to oil prices
- Thread starter OddTrader
- Start date
Not much of an impact on the stock though... -2.5%... meh...
DJ Santos' GLNG Write-Down Spooks Investors -- Market Talk
0030 GMT - The US$690 million 1H write-down Santos (STO.AU) plans to record on its GLNG gas-export project isn't a surprise to Macquarie. But it adds the size was slightly larger than anticipated, yet offset by a gain on the Cooper Basin assets. Investors may not have been as prepared as the investment bank, which remains bullish on Santos' stock. Shares are down 2.4%. (robb.stewart@wsj.com; @RobbMStewart)
DJ Santos' GLNG Write-Down Spooks Investors -- Market Talk
0030 GMT - The US$690 million 1H write-down Santos (STO.AU) plans to record on its GLNG gas-export project isn't a surprise to Macquarie. But it adds the size was slightly larger than anticipated, yet offset by a gain on the Cooper Basin assets. Investors may not have been as prepared as the investment bank, which remains bullish on Santos' stock. Shares are down 2.4%. (robb.stewart@wsj.com; @RobbMStewart)