This morning’s announcement also revealed that BHP’s plan to divest its underperforming US shale oil and gas business was nicely on track and that transactions could be completed later in the year.
Today, I’ll take a look at the Aussie dollar gold price, which adjusts for the difference between the US and Aussie dollar exchange rate. This is a far more important price to watch for Aussie gold stock investors.
Oil market has become a crowded trade. Any correction in the oil price could see a swag of hedge funds selling to lock in profits. And that is what we saw this week as oil had its biggest price drop in more than two years.
Caltex Australia Limited [ASX:CTX], an energy corporation, is riding a market wave today. The company stock is up on the back of a Woolie’s deal. As of writing, CTX is up just over 4% by midday.
Service firm WorleyParsons Ltd. [ASX:WOR] has managed an extraordinary turnaround in a short period. If you invested in January 2016, your principal would have grown by over 500% in just two years! How have they accomplished this feat?
Santos Ltd’s [ASX: STO] shares are up by over 2% this afternoon, after the company announced a new dividend payout policy to counter fluctuating oil prices. Additional news that the policy will commence earlier than expected has sent shares rocketing into more than a one-month high.
FAR Limited [ASX:FAR] are making sure they’re not missing out on the mining boom that has taken place. Today the oil and gas exploration company's shares grew by 4.55%, making this increase the largest it has experienced for a whole year.
Today, shares of Lakes Oil NL [ASX:LKO] increased by 50% after its Victorian exploration activities turned over many promising discoveries throughout 2017 and early 2018.Commercial gas and hydrocarbons were located throughout its sites, which contributed to the development of Lakes’ Portland Energy Project.
Project Icewine — an Alaskan-based 3D seismic survey extending to 450 kilometres —had been finalised back in April, and remains on schedule for the rest of the year. The project’s contents and accessibility have now been properly analysed by head office, and further contracts have been set.
The massive investment into liquid natural gas (LNG) over the past decade has resulted in the development of a new export industry. It may finally start to pay off over the next few years.