Oil Search boasts large, high-quality, liquids-rich gas resources in PNG.
Our AUD 5.25 fair value estimate for Oil Search stands. Company rhetoric remains there is even more expansion potential in the wings, though a sated LNG market stays our hand for now. We agree expansion on PNG LNG is sensible, given it represents capital-efficient growth. However, we don’t see it as sufficient to drive a moat for the company as existing LNG trains went over budget. In our base case oil price regime, Oil Search is not expected to generate midcycle returns on invested capital abov...Oil Search is engaged in the exploration, development and production of oil and gas deposits in Papua New Guinea. This is carried out as both the operator of producing and exploration joint ventures and as a non-operator participant in exploration and production joint ventures. Co.'s properties include the Kutubu oil project, Central Moran oil project, Gobe oil project, Hides GTE project, SE Mananda field, and Nabrajah. Co. also has interests in seven concession areas in Yemen, three concession areas in Egypt, and one concession area in Libya. Co. maintains operations in Papua New Guinea, Yemen, Egypt, Libya, Iraq, Tunisia, and Australia.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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