Woodside ceases merger talks with Santos

Offshore staff

PERTH, Australia —  Woodside Energy has ceased discussions regarding a potential $52 billion merger with Santos Ltd. 

Woodside says it continuously assesses a range of organic and inorganic growth opportunities. CEO Meg O’Neill added that for every opportunity Woodside assesses, it conducts thorough due diligence and will only pursue a transaction that is value accretive for its shareholders.

“We continue to be disciplined in our approach to mergers and acquisitions and capital management 
to create and deliver value for shareholders," O’Neill said. "While the discussions with Santos did not result in a transaction, Woodside considers that the global LNG sector provides significant potential for value creation.”

02.06.2024