ADNOC, Carlyle Offer $18.8B for Australia's Santos Ltd.
Santos Ltd. has received a non-binding proposal from a consortium of...
Santos Ltd. has received a non-binding proposal from a consortium of buyers valuing the Australian oil and natural gas producer at $18.78 billion, the company said in a June 15 press release.
The XRG Consortium—led by Abu Dhabi National Oil Co. (ADNOC), which includes subsidiary Abu Dhabi Development Holding Co. and Carlyle—offered Santos $5.76 (AUD$8.89) per share— a 28% premium over the company’s June 13 closing price.
The company said the offer is the third made by a consortium for Santos, but the first made public. Santos' operations include oil, natural gas, and LNG projects in Australia and the Pikka Phase 1 oil project on the North Slope in Alaska.
Santos said it received the offer on June 13 and described the proposal as a “final non-binding indicative offer” that followed two confidential offers in March: the first for $5.04 per share; the second for $8.60 per share.
Minnesota lawmakers targeted in “politically motivated attack”; suspect apprehended
Authorities say that around 2am local time on Saturday, Minnesota State...
Authorities say that around 2am local time on Saturday, Minnesota State Senator John Hoffman and his wife, Yvette, were shot multiple times at their home in Champlin, and that the same attacker then went to the house of State Representative Melissa Hortman in nearby Brooklyn Park, where he murdered her and her husband, Mark. Police engaged the suspect at Hortman’s home. He fled, but left a vehicle flashing lights that contained a manifesto listing 50 to 70 names of potential targets, many of whom were abortion rights supporters. Police caught the alleged shooter, 57-year-old Vance Luther Boelter, on Sunday evening after a manhunt that lasted more than 24 hours. The Hoffmans survived and underwent surgery to treat their wounds; John was shot nine times; Yvette, eight.
President Trump and other heads of state are meeting in Alberta for the ...
President Trump and other heads of state are meeting in Alberta for the annual G7 summit—the first of Trump’s second term. The Israel–Iran conflict is expected to dominate the agenda, but the global economy and tariffs will also draw considerable attention, with Trump’s self-imposed July 9 trade-deal deadline fast approaching. NATO Secretary General Mark Rutte and Ukrainian President Volodymyr Zelensky are expected to join the summit on Tuesday.
The Fed meets as inflation and the labor market cool: Federal...
The Fed meets as inflation and the labor market cool: Federal Reserve Chair Jerome Powell is expected to hold interest rates steady following the central bank’s Wednesday meeting, continuing a wait-and-see approach due to the fog of uncertainty hanging over the economy. That could provoke an angry response from President Trump, who recently called Powell a “numbskull” for not lowering rates already. Yet a growing number of analysts say the Fed could start thinking about dropping rates soon, given that inflation has stayed cool and the labor market is showing signs of weakness.
US rig count falls for seventh week as drilling hits lowest level since 2021
Energy services firm Baker Hughes said in its closely followed report...
Energy services firm Baker Hughes said in its closely followed report on Friday that U.S. energy firms this week cut the number of oil and natural gas rigs operating for a seventh week in a row to the lowest since November 2021.
The total combined oil and gas rig count, an early indicator of future output, fell by four to 555 in the week to June 13th.
Baker Hughes said this week's decline brings the total count down by 35 rigs, or 6%, from this time last year.
The oil rig count fell by three to 439 this week, its lowest since October 2021, while gas rigs slipped by one to 113.
Total rig counts in the Permian Basin in West Texas and eastern New Mexico, and in the state of Texas fell this week to their lowest levels since November 2021.
In New Mexico, meanwhile, the rig count fell this week to its lowest since December 2021. Oklahoma lost 1 down to 49 rigs.
