Santos Ltd

STO: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Raising Santos' Fair Value Estimate After Upping Assumed Midcycle Brent Price

Mark Taylor

Sep 15, 2025

Business Strategy and Outlook

Santos is the second-largest Australian pure oil and gas exploration and production company (behind Woodside Petroleum, ASX:WPL), with interests in all Australian hydrocarbon provinces, and Papua New Guinea. Santos is now one of Australia's largest coal seam gas producers with substantial reserves. It is the country's largest domestic gas supplier.

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Santos Ltd

Raising Santos' Fair Value Estimate After Upping Assumed Midcycle Brent Price

Business Strategy and Outlook

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