Santos to Cut Debt by A$3.5 Billion Amid Rout in Oil Prices

  • Santos plans to sell A$2.5 billion stock to shareholders
  • Mitsui buys Kipper gas field holding for A$520 million

Santos Ltd., the Australian oil and gas producer that rejected a takeover bid last month, plans to raise A$3.5 billion ($2.5 billion) selling shares and a stake in a gas field as it seeks to cut debt after the plunge in energy prices.

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