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Highlights
- Australia-based exploration company Whitehaven Coal operates four mines in the Gunnedah basin, New South Wales.
- Stanmore Resources acquired 80% interest in the South Walker Creek from BHP Group Ltd.
- Warrego Energy increased the estimates of its EP469 project by 41% following successful drilling and appraisal results.
The energy sector consists of companies dealing with the exploration and development of oil or gas reserves, oil and gas drilling, and downstream activities like refining. Since energy can be changed from one form to another, this enables modern civilization to exist and evolve with time. With changing times and new challenges, there is a shift towards the generation of clean and renewable energy.
Any company’s stocks dealing with the energy sector can be referred to as energy stocks. They were generally dominated by oil and gas companies, but with innovations and new demands, alternative energy companies are also gaining importance in energy stocks.
Based on their annual performance, let us look at some ASX-listed energy stocks:
Whitehaven Coal Ltd. (ASX:WHC)
Australia-based exploration company Whitehaven Coal operates four mines in the Gunnedah basin, New South Wales, of which three are open-cut and one is underground. The company produces high-grade metallurgical and thermal coal. The exports are focused on advanced and developing economies in North and Southeast Asia. The assets are also complemented by two high-quality development projects- Vickery in Gunnedah and Winchester South in the Queensland Bowen Basin.
Recently, Whitehaven revealed that the continuous La Nina phenomenon had impacted production at open mines. The run-of-mine production for open mines has also decreased. The events have made Whitehaven moderate its target for upcoming financial year.
At the same time, the company has upgraded its guidance for Narrabri due to a stronger performance. The run-of-mine Narrabri coal production in the September quarter was higher than 9% from the June quarter.
Stanmore Resources Ltd. (ASX:SMR)
Australia-based Stanmore Resources is a coal exploration and mining company with a focus on metallurgical coal in Queensland. The company also has ownership interests in the Isaac Plains Complex, South Walker Creek, and Poitrel coal mines.
Stanmore updated coal resources for Stanmore SMC Pty Ltd. South Walker Creek resources were re-classified by Palaris. The new Resource Estimate is less than the earlier estimate by 1%.
Also, Stanmore has acquired an 80% interest in South Walker Creek from BHP Group Ltd. (ASX:BHP).
Data: ASX as on 20 December 2022
Warrego Energy Ltd. (ASX:WGO)
Warrego Energy is a petroleum exploration, development, and production company based in Australia. The prime projects of the firm include the Tesorillo project in Spain, and EP469 and EPA-0127 in Western Australia.
The independent certification of EP469 increased the estimates by 41% after successful drilling and positive appraisal results. Warrego completed a feasibility study in the Mid-West region and confirmed that the region was suitable for the production of Blue Hydrogen and Carbon Capture and Storage.
The company has also applied to drill three additional infill wells in El Romeral. The front-end engineering design (FEED) of the renewable co-generation facility is proceeding with land negotiations and an environmental impact assessment.
Image: © Bazil8 | Megapixl.com
MC Mining Ltd. (ASX:MCM)
MC Mining Limited is based in South Africa and emerging as a developer-producer of high-grade thermal and coking coal. The key projects of the company are: Uitkomst Colliery (metallurgical coal), Makhado Project (hard coking and thermal coal), Vele Colliery (semisoft and thermal coal) and Greater Soutpansberg Projects (coking and thermal coal).
MC Mining announced that run-of-mine coal production in Uitkomst Colliery was higher than 5% on a year-to-year basis. Minxcon Ltd. completed the assessment of potential alternative development scenarios for the Makhado project in order to optimise the overall cost.
