V-Con: Oil & Gas – robust price action and a supply squeeze
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V-Con is Stockhead’s investing focused video conference series, bringing you expert insights, panel discussions and presentations from leading analysts, listed small caps and industry players. This latest video conference focuses on the oil and gas sector.
Crude oil is in ascendancy with the benchmark Brent crude trading above the US$75 per barrel mark due to concerns about US production and a faster than expected economic recovery.
The latter has OPEC forecasting that demand could exceed pre-pandemic levels, or about 100.8 million barrels per day in 2022.
Global gas prices have also hit record levels with extreme summer weather following on a cold winter to deplete gas stockpiles in Europe while China’s strong economic rebound has contributed to high prices in Asia.
Australia’s gas market has been largely insulated from northern hemisphere pricing due to the tyranny of distance with average prices in August almost halving from July.
However, this price holiday is unlikely to last as gas supplies on the east coast continue to decline. The west coast gas market is in considerably better shape, but could still need new supplies by the end of this decade.
Speaking with a handful of emerging companies making waves in the sector, along with industry experts, we find out what’s in store for the oil and gas industry.
Sky News and CNBC business journalist Oriel Morrison interviews Peter Strachan, oil & gas expert and independent corporate strategist.
Peter is a capital markets veteran, resources analyst and corporate strategist. Prior to moving into the finance sphere in 1983, Peter completed a Bachelor of Science in Metallurgy and Geology at University of Melbourne and after travelling the hippy trail, worked in Zambia and PNG as a metallurgist and as a business analyst in Melbourne with CRA, now Rio Tinto. From 2003-2019, Peter was the brains behind the popular weekly “StockAnalysis” investment letter.
Buru Energy Ltd (ASX:BRU)
Eric Streitberg, Executive Chairman
Buru is an ASX oil and gas exploration and production company focused on exploring and developing petroleum resources in the Canning Basin, in the southwest of the Kimberley region of Western Australia.
Pilot Energy Ltd (ASX:PGY)
Brad Lingo, Executive Director and Chairman
Pilot Energy is an oil and gas exploration and production company that is aggressively pursuing the diversification and transition to the development of integrated renewable energy, hydrogen and carbon management projects leveraging existing oil and gas assets to cornerstone these developments.
ADX Energy Ltd (ASX:ADX)
Ian Tchacos, Executive Chairman
ADX is focused on becoming a leading European energy producer and the provider of energy solutions for a low carbon society. They are a producer, explorer and project developer – operating projects in Austria, Romania and Italy.
Red Sky Energy Ltd (ASX:ROG)
Andrew Knox, Executive Director
Red Sky Energy is an Oil & Gas Exploration and Development Company with a number of exciting projects including Killanoola and Innamincka in South Australia
Metgasco Ltd (ASX:MEL)
Ken Aitken, CEO
Metgasco is an Australia-focused oil and gas exploration and production company with an exploration focus in the prolific onshore Australian Cooper/Eromaga and Perth Basins.
Invictus Energy Ltd (ASX:IVZ)
Scott Macmillan, Managing Director
Invictus is an oil and gas exploration company focused on high impact energy resources in sub-Saharan Africa. The company’s asset portfolio consists of a highly prospective portion of the Cabora Bassa Basin in Zimbabwe.