A Glimpse On Three Energy Stocks-FDM, SXY, ORG?

  • May 04, 2019 AEST
  • Team Kalkine
A Glimpse On Three Energy Stocks-FDM, SXY, ORG?

Freedom Oil & Gas Limited

Freedom Oil & Gas Limited (ASXL FDM) is a Houston-based independent oil and gas company, which primarily focuses on its Eagle Ford Shale (EFS) tenement, as it is a pivotal asset of the company. The company initiated a development drilling program at the Eagle Ford Shale formation in 2017 and completed 15 horizontal wells, and three wells are under development and awaiting completion. As per the company, out of 15wells, six wells are currently placed on production. The production is currently with gross IP-30 initial rates, and the average output is around 733 BOED (barrels of oil equivalent per day) form three Katherine Brown wells and 612 BOED from three Persimmon wells respectively. The company recently presented its average production data for the EFS.

Freedom is astute over the development process of the Eagle Ford Shale tenement, and the key asset and its further development could help the company to take advantage of high oil prices in the global market. As per the company, during the quarter it realized average oil prices of US$3-$5 per barrel above WTI pricing and hedged 157,205 barrels of crude oil for CY2019 at US$62.67 per barrels.

Freedom hedged 111,243 barrels for CY2020 at US$61.45 per barrels, and 43,493 barrels for first seven months of CY2021 at US$59.67 per barrel.

The share of the company closed at A$0.053 (as on 3rd May 2019), down by 10.169% as compared to its previous close.

Senex Energy Limited

Sensex Energy Limited (ASX: SXY) is an oil and gas explorer and producers, which primarily focuses on its Atlas project, which is a flagship project of the company. The company recently secured a gas sales agreement from the project. The company initially won a sales agreement with CSR Limited (ASX: CSR), and the company agreed to deliver 3.25 petajoules of natural gas to CSR Limited.

Apart from CSR Limited, the company secured another domestic gas sales agreement with Orora Limited (ASX: ORA) to deliver 9.9 petajoules of natural gas.

Both the agreements contain a term that would allow the companies to extend the sales agreement further respectively, and the company will supply the gas to Wallumbilla Gas Hub in Queensland as per both the sales agreement.

The flagship project of the company- Project Atlas, will mark its first sales at the end of 2019, and the terms of the contact are set to deliver the gas from the beginning of the years 2020.

Senex is taking extreme care and proceeding towards the development of its core asset.

The share of the company closed at A$0.365 (as on 3rd May 2019), up by 1.389% as compared to its previous close.

Origin Energy Limited

Origin Energy Limited (ASX: ORG) is an integrated company, which is into a business of retail power generation and natural gas production.

The company produced around 63.3 petajoules (PJ) of natural gas in the March 2019 quarter and sold 63.4PJe. The company generated higher commodity revenue; the commodity revenue stood at A$763.9 million, which marked an increase of 3% as compared to the average revenue of 740.9 in the December 2018 quarter.

The total energy sales of the company stood at 9.3TWh, which marked an increase of 7% as compared to 8.7Twh in December 2018 quarter.

The share of the company closed at A$7.520 (as on 3rd May 2019), down by 1.828% as compared to its previous close.


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