Phoenix Global Resources has issued an operational update in respect of the the fourth quarter of 2018. The Company produces approximately 10,000 boe/d, mainly from conventional oil and gas reservoirs in Argentina. However, Phoenix also has exposure to 560,000 net acres in the unconventional Vaca Muerta shale play. Production from this area is rising rapidly as it attracts considerable investment and some holdings have changed hands for over US$13,000/acre. We reiterate our Buy recommendation
07 Mar 2019
Making unconventional progress
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Making unconventional progress
- Published:
07 Mar 2019 -
Author:
Richard Slape -
Pages:
4
Phoenix Global Resources has issued an operational update in respect of the the fourth quarter of 2018. The Company produces approximately 10,000 boe/d, mainly from conventional oil and gas reservoirs in Argentina. However, Phoenix also has exposure to 560,000 net acres in the unconventional Vaca Muerta shale play. Production from this area is rising rapidly as it attracts considerable investment and some holdings have changed hands for over US$13,000/acre. We reiterate our Buy recommendation