Morgans Blog | Morgans

Woodside Petroleum: Preparing for next investment phase

18 February 2021, 12:30 PM

Woodside Petroleum reported earnings well short of consensus expectations for 2H20. Growth projects remain reliant on Woodside’s ability to deal its equity in these projects.

Santos: Impressive FCF in tough half

By Adrian Prendergast

18 February 2021, 10:00 AM

Santos' second half result followed expectations. Unsurprisingly, the result focused on the FX-impacted cost guidance for 2021, in-line with pressure being felt across the resources industry.

Beach Energy: Western Flank uncertainty dragged on result

By Max Vickerson

15 February 2021, 12:30 PM

Beach Energy's (BPT) 1H21 underlying EBITDA was slightly below our expectations while NPAT was significantly ahead. Uncertainty on the performance of BPT’s Bauer oil field looks to be weighing on the share price.

Oil and Gas: Turn in oil market starting to materialise

By Adrian Prendergast

26 November 2020, 12:00 AM

An eventual Covid recovery, building supply response, and the prospect of a weakening US dollar have combined to leave us bullish on our oil & gas coverage. We have made short- and medium-term upgrades to our oil price forecasts.

Woodside Petroleum - A difficult path to deviate from

By Adrian Prendergast

16 July 2020, 11:55 AM

Along with its June quarter result, Woodside Petroleum (ASX:WPL) flagged impairments at its upcoming August result. Overall we saw a better Q2 result than expected, albeit realised LNG prices plummeted. As a result. we maintain our Hold rating on WPL.

Oil & Gas: Trade War 2.0?

By Adrian Prendergast

14 May 2020, 8:50 AM

The recent recovery in oil & gas stocks has been positive, but some have materially outpaced oil prices, and in doing so have essentially priced in a rapid v-shaped recovery that is looking increasingly unlikely.

Oil market: Second phase of downcycle starts

By Adrian Prendergast

21 April 2020, 1:15 PM

We expect the panic selling to continue in oil futures markets and ETF’s and for it to extend into June. We have been waiting for this kind of oil price volatility (waiting for it to hit rock bottom) so we can gain conviction on our buy ideas, and it looks like it is quickly approaching.

Podcast - Oil Price & OPEC

By Adrian Prendergast

16 April 2020, 12:52 PM

I provide an update on the latest developments in the oil market, following the announcement from OPEC+ of record supply cuts. I also detail our top picks across the sector.