2252 GMT - Australian energy company Santos's investor day next month should be positive, says Macquarie. It expects Santos to provide favorable 2025 guidance, forecasting a 6% rise in production and a 35%-40% drop in capex even as it decommissions more facilities. It's hopeful about news of cost-cutting and a better definition of shareholder returns that could see dividend payouts increase. Macquarie also says that a merger between Woodside and Santos, which was discussed by the companies last year, now makes more sense than it did back then. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
October 17, 2024 18:52 ET (22:52 GMT)
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