On Thursday, oil and gas company Santos Limited (ASX: STO) announced a new strategy to re-focus its business on its five key assets, PNG, LNG, GLNG, Cooper Basin, WA and Northern Australia at its Investor Day in Sydney. The company said its focus on these core assets reflects their materiality to Santos’ valuation, along with expectations for stable production, long asset lives, and upside opportunities via high-margin growth opportunities. The remaining assets will be repackaged into a new non-core unit, which will be run as a standalone business based in Sydney. With his previous strong track record, we believe Chief Executive Officer Kevin Gallagher (who joined Santos in February) will continue his run of reducing costs and optimising core assets. Shares in Santos closed down 1.6% for the week. We own Santos as a market-driven investment in the WAM Capital, WAM Leaders and WAM Active portfolio.


Please sign in to comment on this wire.