UK E&P - Increasing oil prices
In this short note we update our oil price deck, to bring it more inline with consensus. Although we still believe there may be the “shale ceilingâ€, we believe the risk that Brent crude falls below $50/bbl again has diminished substantially. Whilst there has been a lot of recent speculation around EVs and peak demand, we see upside risk to the oil price in the short to medium term, and as such we believe many of the E&P names, which have production profiles peaking in that time frame, are well placed to exploit this timing, without suffering the longer term strategic issues Big Oil may face.Cairn Energy is an oil and gas exploration and development company. Co. has three groups of business unit: Senegal, which focuses on appraising the discoveries offshore Senegal and to identify further exploration prospects for drilling; U.K and Norway, which includes exploration activities in the North Sea, Norwegian Sea and Barents Sea and management of Co.'s development assets in the U.K. North Sea; and International, which consists of all other regions where Co. holds exploration licenses, including Greenland, Ireland, Morocco, Western Sahara, Mauritania and the Mediterranean. As at Dec 31 2016, Co. had total proved plus probable reserves of 51.5 million barrels of oil equivalent.
Whitman Howard is an independent institutional stockbroking and investment banking business focused on servicing the needs of our corporate clients and institutional investor base.
The company began trading in 2011 with a team of highly experienced market professionals and the goal of building a leading capital markets business in an entrepreneurial environment.
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