Woodside Energy and Santos confirm merger talks

Australian oil and gas firms Woodside Energy and Santos confirmed on Thursday that they are in discussions about a potential merger.

Responding to press speculation, Woodside said: "Discussions remain confidential and incomplete, and there is no certainty that the discussions will lead to a transaction.

"As a global energy company, Woodside continuously assesses a range of opportunities to create and deliver value for shareholders."

In a separate statement, Santos said it was assessing a range of alternative structural options "with a view to unlocking value as referred to on Santos’ investor day on 22 November 2023".

Santos said the consideration of any merger is at an early stage and there is no agreement between the parties.