In this note, we analyze the indebtedness of 35 international E&Ps publicly listed in the UK, Canada, Norway, Sweden and the USA. For each company, we look at (1) cash position, (2) level and nature of debt (including covenants), (3) debt service and principal repayment framework and (4) Brent price required from April to YE20 to meet all the obligations and keep cash positions intact. We also estimate YE20 cash if Brent were to average US$20/bbl from April to YE20. While the oil demand and oil ....
19 May 2020
DEEP DIVE INTO E&P INDEBTEDNESS
Aker BP ASA (ARC:FRA), 0 | Africa Oil Corp. (AOI:TSE), 0 | Canacol Energy Ltd. (CNEC:BOG), 0 | Cairn Energy PLC (CNE:LON), 164 | Diversified Gas & Oil PLC (DGOC:LON), 114 | VAALCO Energy, Inc. (EGY:LON), 175 | Energean Plc (ENOG:LON), 847 | EnQuest PLC (ENQ:LON), 16.4 | Genel Energy PLC (GENL:LON), 168 | Gulf Keystone Petroleum Limited (GKP:LON), 173 | GeoPark Ltd (0MDP:LON), 0 | Gran Tierra Energy Inc. (GTE:LON), 55.0 | Hurricane Energy Plc (HUR:LON), 2.5 | Independent Oil & Gas Plc (IOG:LON), 21.6 | Jadestone Energy, Inc. (JSE:LON), 63.0 | Kosmos Energy Ltd. (KOS:LON), 193 | Lundin Energy AB (LYV:FRA), 0 | Maha Energy AB Class A (0GEA:LON), 0 | OKEA ASA (3SX:FRA), 0 | Orca Energy Group Inc. Class B (ORC.B:TSX), 0 | Panoro Energy ASA (0N08:LON), 0 | Pharos Energy PLC (PHAR:LON), 26.8 | Harbour Energy Plc (HBR:LON), 18.5 | PetroTal Corp. (PTAL:LON), 17.2 | Parex Resources Inc. (PXT:TSE), 0 | Rockrose Energy (RRE:LON), 0 | SDX Energy PLC (SDX:LON), 17.0 | Seplat Petroleum Development Co. Plc (SEPL:LON), 80.1 | Tethys Oil Ab (TETY:STO), 0 | TransGlobe Energy Corporation (TGL:LON), 116 | Tullow Oil plc (TLW:LON), 45.4 | Touchstone Exploration Inc (TXP:LON), 114 | Wentworth Resources (WRL:LON), 0
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Stephane Foucaud
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18 pages
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DEEP DIVE INTO E&P INDEBTEDNESS
Aker BP ASA (ARC:FRA), 0 | Africa Oil Corp. (AOI:TSE), 0 | Canacol Energy Ltd. (CNEC:BOG), 0 | Cairn Energy PLC (CNE:LON), 164 | Diversified Gas & Oil PLC (DGOC:LON), 114 | VAALCO Energy, Inc. (EGY:LON), 175 | Energean Plc (ENOG:LON), 847 | EnQuest PLC (ENQ:LON), 16.4 | Genel Energy PLC (GENL:LON), 168 | Gulf Keystone Petroleum Limited (GKP:LON), 173 | GeoPark Ltd (0MDP:LON), 0 | Gran Tierra Energy Inc. (GTE:LON), 55.0 | Hurricane Energy Plc (HUR:LON), 2.5 | Independent Oil & Gas Plc (IOG:LON), 21.6 | Jadestone Energy, Inc. (JSE:LON), 63.0 | Kosmos Energy Ltd. (KOS:LON), 193 | Lundin Energy AB (LYV:FRA), 0 | Maha Energy AB Class A (0GEA:LON), 0 | OKEA ASA (3SX:FRA), 0 | Orca Energy Group Inc. Class B (ORC.B:TSX), 0 | Panoro Energy ASA (0N08:LON), 0 | Pharos Energy PLC (PHAR:LON), 26.8 | Harbour Energy Plc (HBR:LON), 18.5 | PetroTal Corp. (PTAL:LON), 17.2 | Parex Resources Inc. (PXT:TSE), 0 | Rockrose Energy (RRE:LON), 0 | SDX Energy PLC (SDX:LON), 17.0 | Seplat Petroleum Development Co. Plc (SEPL:LON), 80.1 | Tethys Oil Ab (TETY:STO), 0 | TransGlobe Energy Corporation (TGL:LON), 116 | Tullow Oil plc (TLW:LON), 45.4 | Touchstone Exploration Inc (TXP:LON), 114 | Wentworth Resources (WRL:LON), 0
- Published:
19 May 2020 -
Author:
Stephane Foucaud -
Pages:
18 -
In this note, we analyze the indebtedness of 35 international E&Ps publicly listed in the UK, Canada, Norway, Sweden and the USA. For each company, we look at (1) cash position, (2) level and nature of debt (including covenants), (3) debt service and principal repayment framework and (4) Brent price required from April to YE20 to meet all the obligations and keep cash positions intact. We also estimate YE20 cash if Brent were to average US$20/bbl from April to YE20. While the oil demand and oil ....