Santos Agrees to Sell Stake in Queesland JV to Comet Ridge

MT Newswires Live

Dec 17, 2025

Santos (ASX:STO) agreed to sell its 42.86% stake in the Mahalo Joint Venture in Queensland to energy firm Comet Ridge (ASX:COI) for an upfront payment of AU$40 million, according to a Wednesday filing with the Australian bourse.

Under the deal, the company can also earn a contingent payment tied to meeting production milestones of up to AU$20 million, the filing said.

The company also sold its entire stake in the Tern fields and 42.71% stake in the Petrel gas fields in Northern Australia to Eni Australia, the filing added.

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