Santos' decommissioning liability matches a quarter of its $22b value, but its disclosures to investors fared poorly against the latest accounting standards, according to an international survey.
Australia's biggest oil and gas producer has posted record production and cut costs, but weak fossil fuel prices have weighed on profits
Investors beware: after spending more than $40 million in the Canning Basin, the US-owned company's continued pursuit of remote gas appears to be throwing good money after bad.
Equus Energy floated on the ASX in December 2025. Before that, it was called Western Gas: a small company that bought the Equus gas fields in the Carnarvon Basin from US company Hess in 2017 to develop an LNG project.
Western Gas is looking east, at petrochemicals, at WA buyers and the North West Shelf LNG plant to find a market for its Equus gas.
If Western Gas' Equus LNG project does not take off in these tough times neither the small company nor regulator NOPTA have an answer to how making safe the wells is paid for.
Western Gas believes it will have the Equus gas field producing by 2023 — something oil major Hess failed to achieve despite spending $1.5 billion.
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