I don't know if this has been discussed before. But how much control does Santos stake in ESG give it in regards to how the reserves are developed?
There was an interesting article on page 20 of the AFR today called "CSG minefield for Origin"
It basically discusses the legal minefield that majors like Origin are exposed to by being the operator on only 67% of their reserves.
Where BG and Santos operate 100 and 97 per cent respectively. This gives the pair the over-riding and say on when and how their reserves are developed.
Could it then be assumed that a company like Santos would end up seeking controlling interest eventually. It would be strange for them not too.
Thoughts?
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