Oil and gas explorers Carnarvon Petroleum Ltd [ASX:CVN] and Santos Ltd [ASX:STO] have done it. Their persistence in WA has paid off after they finally found what they were looking for: oil.
Oil Search Ltd [ASX:OSH] shares were up by over 1.5% this morning, following a sharp spike in oil prices overnight. The price of gold might be down, but Australia’s energy sector appears to be clearly leading the charge...
Santos’ Mahalo Joint Venture (MJV) is working towards submitting its IPD for the Petroleum Lease Application Submission to the Australian government.The MJV has already come to an agreement on many core inputs and is set to finalise others during this month.
Integrated producer and retailer Origin Energy Ltd [ASX:ORG], who has oil and gas producing assets in Queensland – will be exposed. At the time of writing Origin Energy's share price is trading 0.28% lower, to $7.17 a share.
Oil prices have continued to fall with West Texas Intermediate crude entering a bear market and Brent briefly tumbling below US$60 after US petroleum inventories ballooned.As a result many Australian oil shares have been under pressure with...
It has been a solid 12-month period for the stock. The latest news out of the company is its full-year results, which reveal improved cash flow and growth in reserves.
Of the ASX oil stocks, Beach Energy was the worst hit, down 9.95%, trading at $1.63. These moves mirror the decline in oil price, with WTI Crude down 0.51% today — trading at $52.37.
The share price of oil and gas producer Santos Limited [ASX:STO] jumped 4.78% today, adding $0.28 to trade at $6.24 per share.
Santos shares rose 2.6% yesterday, following a sharp spike in oil prices. The comanpy has had a promising year in general. Earlier this year, they issued a new and attractive dividend policy designed to pay out in these intermittent oil price booms.
If you shut out the noise and just follow one thing — the price action — then the signals are that it may be time to start looking at re-positioning your portfolio.