https://unauthorised investment advice/energy/at-60-per-barrel-asx-investors-are-getting-excited-about-oil-and-gas-again/
At $60 per barrel, ASX investors are getting excited about oil (and gas) againOil prices are on the rise again and that’s good news for ASX oil and gas stocks as well as some icing on the cake for a handful this morning.
For a brief period last April prices fell into negative territorybut have been on the recovery ever since and overnighttopped $60 per barrel.
While this is still off the highs seen in the middle of the 2010s, it is the highest price since COVID-19 broke out.
For several months now,most noteworthy gains among oil and gas stocks have been mysteriously off the back of no news.
*analysis has found that the average ASX oil and gas stock is up 81 per cent in the last 12 months – although it goes without saying there’s an enormous gap between the top winners and losers.
88E 88 Energy Ltd 0.011 22 120 0 -50 $ 117,277,494.74 ABL Abilene Oil & Gas 0.001 0 0 0 -50 $ 397,614.35 ADX ADX Energy Ltd 0.007 17 0 0 -13 $ 17,208,105.60 AJQ Armour Energy Ltd 0.04 -29 90 -25 -24 $ 52,306,284.64 ANA Ansila Energy 0.029 -19 38 -19 123 $ 49,916,847.40 ATS Australis Oil & Gas 0.06 0 114 5 -19 $ 61,129,748.04 BAS Bass Oil Ltd 0.0015 0 0 0 -25 $ 3,342,140.10 BPT Beach Energy Limited 1.87 -2 30 11 -22 $ 4,163,433,922.20 BRK Brookside Energy Ltd 0.009 0 80 13 29 $ 10,800,000.00 BRU Buru Energy 0.155 29 65 3 -3 $ 66,971,507.36 BUY Bounty Oil & Gas NL 0.03 88 114 -21 650 $ 32,892,029.46 BYE Byron Energy Ltd 0.16 0 -14 0 -47 $ 166,447,216.32 CE1 Calima Energy 0.009 29 80 29 50 $ 19,864,117.01 COE Cooper Energy Ltd 0.31 -22 -18 -9 -45 $ 497,462,962.03 COI Comet Ridge Limited 0.076 -6 -4 1 -49 $ 60,923,302.36 CTP Central Petroleum 0.14 8 56 8 4 $ 101,281,934.46 CUE CUE Energy Resource 0.078 3 -40 1 -42 $ 53,755,218.44 CVN Carnarvon Petroleum 0.28 -10 51 6 -15 $ 430,479,477.18 DOR Doriemus PLC 0.046 -23 48 -10 10 $ 2,667,223.75 E2E Eon Nrg Ltd 0.001 0 0 0 -67 $ 769,888.93 EEG Empire Energy Ltd 0.34 -4 10 -3 -13 $ 113,379,694.40 ENX Enegex Limited 0.056 -7 198 0 837 $ 7,950,936.95 EXR Elixir Energy Ltd 0.165 -6 101 -3 259 $ 133,649,681.55 FAR FAR Ltd 0.011 0 -8 0 -71 $ 109,767,132.17 FDM Freedom Oil Gas 0.011 0 0 0 0 $ 11,847,248.07 FPL Fremont Petroleum 0.0035 -13 17 17 -30 $ 16,374,793.82 GAS State GAS Limited 0.595 7 32 3 -1 $ 102,954,221.48 GGE Grand Gulf Energy 0.015 36 200 7 150 $ 5,756,242.17 GGX Gas2Grid Limited 0.008 220 300 100 167 $ 8,015,981.91 GLL Galilee Energy Ltd 0.63 -2 9 -1 9 $ 186,014,150.28 GLV Global Oil & Gas 0.021 75 127 31 108 $ 15,826,120.93 HCD Hydrocarbon Dynamic 0.024 -20 -11 4 -44 $ 10,566,962.54 HPR High Peak Royalties 0.079 0 20 4 -12 $ 14,927,555.52 HZN Horizon Oil Limited 0.086 34 51 23 -28 $ 109,366,426.26 ICN Icon Energy Limited 0.018 6 80 0 260 $ 10,756,924.88 IPB IPB Petroleum Ltd 0.039 -5 255 8 44 $ 10,326,775.25 IVZ Invictus Energy Ltd 0.079 46 163 7 204 $ 37,477,586.33 JPR Jupiter Energy 0.05 4 127 2 400 $ 7,668,884.65 KAR Karoon Energy Ltd 1.11 -1 49 5 0 $ 600,706,368.96 KEY KEY Petroleum 0.004 -33 0 0 -20 $ 7,871,712.50 KKO Kinetiko Energy Ltd 0.14 -3 100 -7 600 $ 82,343,898.70 KPE Kina Petroleum Corp 0.115 -30 -89 -30 -91 $ 1,460,156.73 LIO Lion Energy Limited 0.033 -18 136 14 74 $ 6,844,259.07 LKO Lakes Oil NL 0.0015 0 0 0 0 $ 50,515,629.72 MAY Melbana Energy Ltd 0.014 17 75 0 40 $ 32,435,919.77 MEL Metgasco Ltd 0.031 19 37 -3 -12 $ 17,037,641.79 MPO Molopo Energy Ltd 0.14 0 0 0 0 $ 34,865,690.72 NGY Nuenergy Gas Ltd 0.05 317 400 163 178 $ 88,857,329.82 NSE New Standard Energy 0.004 0 0 0 0 $ 3,554,995.46 NWE Norwest Energy NL 0.006 -25 100 0 20 $ 30,440,660.46 NZO New Zealand Oil&Gas 0.46 -5 2 -7 2 $ 75,638,130.28 ODY Odyssey Gold Ltd 0.078 81 81 4 81 $ 34,844,845.04 OEL Otto Energy Limited 0.01 0 43 11 -56 $ 47,950,097.73 OEX Oilex Ltd 0.0015 -25 -25 -25 -50 $ 6,243,195.00 OSH Oil Search Ltd 4.21 -1 38 6 -32 $ 8,581,523,242.32 OXX Octanex Ltd 0.025 56 92 14 257 $ 6,070,596.00 PCL Pancontinental Oil 0.0015 0 50 0 -25 $ 10,813,430.97 PGY Pilot Energy Ltd 0.078 123 333 66 333 $ 15,503,777.12 PKO Peako Limited 0.029 7 83 0 107 $ 5,185,462.78 PRM Prominence Energy NL 0.012 71 157 9 -23 $ 7,258,293.43 PSA Petsec Energy 0.021 0 0 0 -63 $ 8,580,346.40 PVE Po Valley Energy Ltd 0.034 13 -11 0 -43 $ 22,007,727.50 RLE Real Energy Corp 0.094 203 370 29 236 $ 37,485,388.98 RMP Red Emperor Resource 0.017 -15 42 0 70 $ 8,929,977.19 ROG Red Sky Energy. 0.003 50 140 20 80 $ 13,804,266.59 SAN Sagalio Energy Ltd 0.026 100 1200 4 1200 $ 5,321,163.38 SGC Sacgasco Ltd 0.115 60 297 49 238 $ 37,744,617.11 STO Santos Ltd 7.02 1 23 4 -15 $ 14,623,123,607.82 STX Strike Energy Ltd 0.3 -8 35 -2 70 $ 516,451,105.20 SXA Strata-X Energy Ltd 0.225 162 275 18 302 $ 26,428,269.14 SXY Senex Energy Limited 0.355 8 31 3 13 $ 519,782,216.24 TDO 3D Oil Limited 0.054 -5 -10 -2 -33 $ 14,320,172.09 TEG Triangle Energy Ltd 0.037 37 28 23 -18 $ 21,726,721.84 TMK Tamaska Oil Gas Ltd 0.013 44 160 18 44 $ 11,635,000.00 TNP Triple Energy Ltd 0.025 0 317 0 178 $ 1,799,901.35 TOU Tlou Energy Ltd 0.06 9 62 -10 -16 $ 32,562,340.42 TPD Talon Petroleum Ltd 0.005 25 67 11 67 $ 21,758,947.63 VEN Vintage Energy 0.064 0 -23 -12 -57 $ 38,633,238.21 WBE Whitebark Energy 0.0035 0 17 -13 -59 $ 14,220,939.43 WEL Winchester Energy 0.026 13 4 8 -46 $ 15,177,790.06 WGO Warrego Energy Ltd 0.225 -4 29 0 13 $ 217,167,191.56 WPL Woodside Petroleum 25.53 3 25 2 -25 $ 24,440,535,675.60 XST Xstate Resources 0.0205 156 583 105 583 $ 39,142,573.04 But now, ASX oil and gas investors are responding to positive company news.
One company with news was California focusedSacgasco (ASX:SGC)which rose 20 per cent today along with its joint venture partnerXstate Resources (ASX:XST).
Today it told shareholders a drilling contract had been signed to drill its Borba gas well in the Northern Sacramento Basin.
The rig is now mobilising to the site and drilling will get underway in the next week.
‘The best ASX-listed company leveraged to a very big gas play’
Sacgasco managing director Gary Jeffery admitted it had taken a while to get to this point but the wait for shareholders would be worth it.
The Golden State imports over 90 per cent of its natural gas from Canada and other US states but Sacgasco said finding it locally will be more cost-effective.
“My view is that Sacgasco is without doubt the best ASX-listed company leveraged to a very big gas play,” he said.
“Borba is a most technically compelling, low risk, onshore prospect, located in the massively under-supplied and premium priced natural gas market that is California.”
Xstate also welcomed the news, noting that global oil and gas markets were bullish once more.
“The timing of the drilling of Borba coincides with a sustained increase in the price of oil and gas and complements the recent corporate strategy of the company of increasing its asset base through a growing portfolio interest in attractive production assets,” said Xstate boss David McArthur.
Sacgasco shares rose by over 20 per cent while XState shares rose by 11 per cent.
Sacgasco (ASX:SGC) and XState Resources (ASX:XST) share price chart
Other oil and gas winners
Another ASX oil and gas stock with news today wasBrookside Energy (ASX:BRK)which is also US-focused.
It completed an $8.25 million capital raising to help it fund its Jewell Well. The company said it welcomed “several new high net worth investors looking for exposure to the oil and gas sector” and the Jewell Well was the first well in a potential five-year, 20-plus well development drilling program.
“This is a very exciting time for the company and the team at Black Mesa Energy and we are looking forward to breaking ground on the Jewell Well location very shortly,” declared managing director David Prentice.
Rounding out the list of ASX oil and gas stocks with news was European focusedAnsila Energy (ASX:ANA).
Last week Ansila snapped up British explorer Hartshead Resources and today it told shareholders it had begun activities on a number of workstreams to deliver a field development plan for Phase I assets and the subsurface analysis of Phase II assets.
Both shares saw gains as well.
Brookside Energy (ASX:BRK) and Ansila Energy (ASX:ANA) share price chart
At *, we tell it like it is. While Ansila Energy is a * advertiser, it did not sponsor this article.
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