The Energy Report: Five Companies in Australia's Cooper Basin Worth Watching
The Energy Report: Five Companies in Australia's Cooper Basin Worth Watching: Canaccord Genuity's Johan Hedstrom. Canaccord Genuity energy analyst Johan Hedstrom is tasked with scouring the Australian oil patch looking for good deals even as prices slip and slide. In an interview with The Energy Report, Hedstrom minces no words: Pricing and rig costs are obstacles to taking large profits. But there is a silver lining to the energy price cloud-Australian gas exports. Drillsearch Energy Ltd. (DLS:ASX) has a $488 million ($488M) market cap. It is a strong oil producer in the Cooper Basin with low operating costs. Its cash costs are about $25/bbl. After adding on depreciation and amortization charges at $20/bbl, Drillsearch is making money at the current price of $55–60/bbl for Tapis crude, which is used for Cooper Basin oil pricing. (VIEW LINK)
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