We reiterate our Buy rating and retain our 93p target price following Andes Energia’s interim results. Andes benefits from high domestic oil prices in Argentina, production has grown over 20% yoy in Argentina and the company is now funded to fully participate in the aggressive drilling campaign in the conventional Chachahuen oilfield, operated by YPF. Andes is trading at a 32% discount to our core NAV of 34p, which includes just production and development assets, the majority of which a
06 Oct 2015
Growing production at $70/bbl oil prices
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Growing production at $70/bbl oil prices
- Published:
06 Oct 2015 -
Author:
Mark Henderson -
Pages:
4
We reiterate our Buy rating and retain our 93p target price following Andes Energia’s interim results. Andes benefits from high domestic oil prices in Argentina, production has grown over 20% yoy in Argentina and the company is now funded to fully participate in the aggressive drilling campaign in the conventional Chachahuen oilfield, operated by YPF. Andes is trading at a 32% discount to our core NAV of 34p, which includes just production and development assets, the majority of which a