Unfortunately I can see this getting a lot worse.
BPT have proven they can't operate these assets efficiently through what was the perfect Oil market for a number of years. I would argue it doesn't get any better than the conditions we had for the last 2 years.
They now have circa $600mil in net debt. $800mil of capx in front of them. They will be lucky to make any money this year if you believe the forward curves for oil.
I think they will be doing a cap raise in the not too distant future or will have to give up on some of their growth plans.
Chart - BPT, page-704
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Last
$1.26 |
Change
0.005(0.40%) |
Mkt cap ! $2.863B | |||
| Open | High | Low | Value | Volume |
| $1.26 | $1.26 | $1.24 | $9.789M | 7.813M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 170572 | $1.25 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.26 | 20915 | 1 |
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| Last trade - 16.10pm 11/10/2024 (20 minute delay) ? |
| BPT (ASX) Chart |