In September 2017, Santos announced:
The company’s focus remains on debt reduction and we are on track to achieve our target of US$2 billion in net debt by end of 2019.
In October, they said:
Compared to the end of 2016, our net debt position is US$700 million lower at US$2.8 billion.
So they have more than 2 years to reach their target of reducing net debt by US$800 million.
And I expect that they will have sufficient cash flow to commence paying dividends in 2018 and still achieve their target net debt level by the end of 2019.
Time will tell.
STO Price at posting:
$4.77 Sentiment: Buy Disclosure: Held
