Oil 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 territory but have been on the recovery ever since and overnight topped $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.

Stockhead 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.

Code Company Price %Mth %SixMth %Wk %Yr MktCap
SAN Sagalio Energy Ltd 0.026 100 1200 4 1200 $ 5,321,163.38
ENX Enegex Limited 0.056 -7 198 0 837 $ 7,950,936.95
BUY Bounty Oil & Gas NL 0.03 88 114 -21 650 $ 32,892,029.46
KKO Kinetiko Energy Ltd 0.14 -3 100 -7 600 $ 82,343,898.70
XST Xstate Resources 0.0205 156 583 105 583 $ 39,142,573.04
JPR Jupiter Energy 0.05 4 127 2 400 $ 7,668,884.65
PGY Pilot Energy Ltd 0.078 123 333 66 333 $ 15,503,777.12
SXA Strata-X Energy Ltd 0.225 162 275 18 302 $ 26,428,269.14
ICN Icon Energy Limited 0.018 6 80 0 260 $ 10,756,924.88
EXR Elixir Energy Ltd 0.165 -6 101 -3 259 $ 133,649,681.55
OXX Octanex Ltd 0.025 56 92 14 257 $ 6,070,596.00
SGC Sacgasco Ltd 0.115 60 297 49 238 $ 37,744,617.11
RLE Real Energy Corp 0.094 203 370 29 236 $ 37,485,388.98
IVZ Invictus Energy Ltd 0.079 46 163 7 204 $ 37,477,586.33
TNP Triple Energy Ltd 0.025 0 317 0 178 $ 1,799,901.35
NGY Nuenergy Gas Ltd 0.05 317 400 163 178 $ 88,857,329.82
GGX Gas2Grid Limited 0.008 220 300 100 167 $ 8,015,981.91
GGE Grand Gulf Energy 0.015 36 200 7 150 $ 5,756,242.17
ANA Ansila Energy 0.029 -19 38 -19 123 $ 49,916,847.40
GLV Global Oil & Gas 0.021 75 127 31 108 $ 15,826,120.93
PKO Peako Limited 0.029 7 83 0 107 $ 5,185,462.78
ODY Odyssey Gold Ltd 0.078 81 81 4 81 $ 34,844,845.04
ROG Red Sky Energy. 0.003 50 140 20 80 $ 13,804,266.59
LIO Lion Energy Limited 0.033 -18 136 14 74 $ 6,844,259.07
STX Strike Energy Ltd 0.3 -8 35 -2 70 $ 516,451,105.20
RMP Red Emperor Resource 0.017 -15 42 0 70 $ 8,929,977.19
TPD Talon Petroleum Ltd 0.005 25 67 11 67 $ 21,758,947.63
CE1 Calima Energy 0.009 29 80 29 50 $ 19,864,117.01
TMK Tamaska Oil Gas Ltd 0.013 44 160 18 44 $ 11,635,000.00
IPB IPB Petroleum Ltd 0.039 -5 255 8 44 $ 10,326,775.25
MAY Melbana Energy Ltd 0.014 17 75 0 40 $ 32,435,919.77
BRK Brookside Energy Ltd 0.009 0 80 13 29 $ 10,800,000.00
NWE Norwest Energy NL 0.006 -25 100 0 20 $ 30,440,660.46
SXY Senex Energy Limited 0.355 8 31 3 13 $ 519,782,216.24
WGO Warrego Energy Ltd 0.225 -4 29 0 13 $ 217,167,191.56
DOR Doriemus PLC 0.046 -23 48 -10 10 $ 2,667,223.75
GLL Galilee Energy Ltd 0.63 -2 9 -1 9 $ 186,014,150.28
CTP Central Petroleum 0.14 8 56 8 4 $ 101,281,934.46
NZO New Zealand Oil&Gas 0.46 -5 2 -7 2 $ 75,638,130.28
KAR Karoon Energy Ltd 1.11 -1 49 5 0 $ 600,706,368.96
NSE New Standard Energy 0.004 0 0 0 0 $ 3,554,995.46
MPO Molopo Energy Ltd 0.14 0 0 0 0 $ 34,865,690.72
LKO Lakes Oil NL 0.0015 0 0 0 0 $ 50,515,629.72
FDM Freedom Oil Gas 0.011 0 0 0 0 $ 11,847,248.07
GAS State GAS Limited 0.595 7 32 3 -1 $ 102,954,221.48
BRU Buru Energy 0.155 29 65 3 -3 $ 66,971,507.36
MEL Metgasco Ltd 0.031 19 37 -3 -12 $ 17,037,641.79
HPR High Peak Royalties 0.079 0 20 4 -12 $ 14,927,555.52
ADX ADX Energy Ltd 0.007 17 0 0 -13 $ 17,208,105.60
EEG Empire Energy Ltd 0.34 -4 10 -3 -13 $ 113,379,694.40
STO Santos Ltd 7.02 1 23 4 -15 $ 14,623,123,607.82
CVN Carnarvon Petroleum 0.28 -10 51 6 -15 $ 430,479,477.18
TOU Tlou Energy Ltd 0.06 9 62 -10 -16 $ 32,562,340.42
TEG Triangle Energy Ltd 0.037 37 28 23 -18 $ 21,726,721.84
ATS Australis Oil & Gas 0.06 0 114 5 -19 $ 61,129,748.04
KEY KEY Petroleum 0.004 -33 0 0 -20 $ 7,871,712.50
BPT Beach Energy Limited 1.87 -2 30 11 -22 $ 4,163,433,922.20
PRM Prominence Energy NL 0.012 71 157 9 -23 $ 7,258,293.43
AJQ Armour Energy Ltd 0.04 -29 90 -25 -24 $ 52,306,284.64
WPL Woodside Petroleum 25.53 3 25 2 -25 $ 24,440,535,675.60
PCL Pancontinental Oil 0.0015 0 50 0 -25 $ 10,813,430.97
BAS Bass Oil Ltd 0.0015 0 0 0 -25 $ 3,342,140.10
HZN Horizon Oil Limited 0.086 34 51 23 -28 $ 109,366,426.26
FPL Fremont Petroleum 0.0035 -13 17 17 -30 $ 16,374,793.82
OSH Oil Search Ltd 4.21 -1 38 6 -32 $ 8,581,523,242.32
TDO 3D Oil Limited 0.054 -5 -10 -2 -33 $ 14,320,172.09
CUE CUE Energy Resource 0.078 3 -40 1 -42 $ 53,755,218.44
PVE Po Valley Energy Ltd 0.034 13 -11 0 -43 $ 22,007,727.50
HCD Hydrocarbon Dynamic 0.024 -20 -11 4 -44 $ 10,566,962.54
COE Cooper Energy Ltd 0.31 -22 -18 -9 -45 $ 497,462,962.03
WEL Winchester Energy 0.026 13 4 8 -46 $ 15,177,790.06
BYE Byron Energy Ltd 0.16 0 -14 0 -47 $ 166,447,216.32
COI Comet Ridge Limited 0.076 -6 -4 1 -49 $ 60,923,302.36
OEX Oilex Ltd 0.0015 -25 -25 -25 -50 $ 6,243,195.00
ABL Abilene Oil & Gas 0.001 0 0 0 -50 $ 397,614.35
88E 88 Energy Ltd 0.011 22 120 0 -50 $ 117,277,494.74
OEL Otto Energy Limited 0.01 0 43 11 -56 $ 47,950,097.73
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
PSA Petsec Energy 0.021 0 0 0 -63 $ 8,580,346.40
E2E Eon Nrg Ltd 0.001 0 0 0 -67 $ 769,888.93
FAR FAR Ltd 0.011 0 -8 0 -71 $ 109,767,132.17
KPE Kina Petroleum Corp 0.115 -30 -89 -30 -91 $ 1,460,156.73

 

But now, ASX oil and gas investors are responding to positive company news.

One company with news was California focused Sacgasco (ASX:SGC) which rose 20 per cent today along with its joint venture partner Xstate 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 was Brookside 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 focused Ansila 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 Stockhead, we tell it like it is. While Ansila Energy is a Stockhead advertiser, it did not sponsor this article.