What I like about the announcement is the effect that it will...

What I like about the announcement is the effect that it will have on the free cash flow break-even position - a reduction of $4/bbl to $32/bbl. The synergies and efficiencies that will be created through the acquisition will generate higher value from the QE assets than what they were achieving. The cost reductions that STO have implemented in the Cooper and GLNG will be rolled out across the QE without doubt and I suspect they'll find some great cost efficiencies throughout the process. And STO is now a 75+mmboe producer, not too short of WPL's annual production volumes.

The acquisition of these assets is fully aligned with Santos’ growth strategy to build on existing infrastructure positions around their core businesses.

I think they've penned a great deal here for STO holders. Half year results out today too... I wonder if there will be any nice surprises in there also.