I normally roll my eyes a bit at takeover speculation but Busuttil makes a good point. The ESG discount on O&G stocks is reaching ridiculous levels. Look at the Brent and JKM price and then compare to, say, WPL or OSH.
Santos is probably the best-performing Australian oiler post-COVID but even STO is a very long way off the sort of SP it would have been pre-COVID with this sort of Brent price. I doubt they are terribly interested in Buffalo but that extra 20% of Dorado, plus nearby targets, must look pretty attractive.
Takeover Murmurings, page-2
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