Oil Search loses its way
Oil Search loses its way
ALSO: LNG industry sullies ‘net zero’, Chevron’s CCS flop + MORE
The energy transition has made life tough for mid-size oil companies, which are prey to hostile takeovers. But a mega-merger with Santos might offer a handy exit for crisis-hit Oil Search, if only the company can get its house in order to avail itself of the opportunity.
That’s the lead story in today’s edition of Energy Flux, which looks like this:
⚡Transition lines – Oil Search in crisis; not zero LNG; Chevron’s CCS flop + MORE
🧠Energised minds – Demographics and energy; need for energy materials innovation
⚡Transition lines
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OIL SEARCH LOSES ITS WAY: Mid-sized oil companies can’t afford to look a gift horse in the mouth. Crisis-hit Oil Search has spurned a generous A$22 billion all-shares merger offer from Australia’s Santos, which valued Oil Search stock at A$4.25 per share. The independent oil company’s share price has enjoyed barely 30 days above this price since the February 2020 Covid-induced oil crash. Worse st…