Santos Aims to Cut Debt by $2.5B, Reduce Capex by 2030
Santos Targets $2.5B Net Debt Reduction by 2030, $300M Capex Savings
Santos (ASX: STO), Australia's second-largest oil and gas producer, announced on Tuesday its goal to reduce net debt by $2.5 billion by 2030 and save $300 million in capital expenditure between 2027 and 2030. The company will pursue a strategy focused on financial discipline and operational efficiency to achieve these targets.
Debt Reduction and Capital Savings
Santos aims to strengthen its balance sheet by cutting net debt by $2.5 billion by 2030. Additionally, it plans to save $300 million in capital expenditure from 2027 to 2030. These measures are intended to improve cash flow and enhance shareholder value.
Strategic Focus
To meet its financial goals, Santos will focus on portfolio optimization, cost reduction, and investment prioritization. The company seeks to reduce its debt burden while allocating resources to growth projects.
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