March 23 (Reuters) - Santos Ltd STO.AX :
* COVID-19 RESPONSE AND BUSINESS UPDATE
* FORECAST CAPEX IN BASE BUSINESS IN 2020 REDUCED BY $200 MILLION WHILST MAINTAINING PRODUCTION AND SAFE OPERATIONS
* SANTOS LTD ANNOUNCES $550 MILLION REDUCTION IN 2020 CAPITAL EXPENDITURE DUE TO COVID-19
* CONOCOPHILLIPS ACQUISITION IS EXPECTED TO COMPLETE IN FIRST HALF OF 2020
* TARGET 2020 FREE CASH FLOW BREAKEVEN OIL PRICE OF $25 PER BARREL
* REDUCTIONS IN EXPENDITURE IN BASE BUSINESS ARE NOT EXPECTED TO IMPACT 2020 PRODUCTION GUIDANCE
* TO DEFER FID ON BAROSSA UNTIL BUSINESS CONDITIONS IMPROVE
* ANNOUNCES $50 MILLION REDUCTION IN 2020 CASH PRODUCTION COSTS DUE TO COVID-19