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BPT - Beach Energy News Story

A$1.7 0.0  2.7%

Last Trade - 5:10am

Sector
Energy
Size
Mid Cap
Market Cap £2.10bn
Enterprise Value £2.14bn
Revenue £839.3m
Position in Universe 133rd / 1847

BUZZ-Aussie energy firms: RBC sees revenue recovery in Q4 as prices rebound

Tue 19th January, 2021 12:04am
** RBC sees a recovery in Q4 sales revenue for most
Australian energy firms on the back of a rebound in crude and
LNG prices
    ** Forecasts Brent oil prices averaging $54/bbl for 2021,
and anticipates the firming to continue into 2022 
    ** Says Oil Search  OSH.AX  and Karoon Energy  KAR.AX  have
the highest oil price leverage and will benefit most from robust
prices
    ** Sees potential for LNG prices to stay at elevated levels
over coming months backed by locked in forward pricing and
logistical constraints
    ** Forecasts average realised LNG pricing to rebound in 4Q
for all LNG producers, with the exception of Origin Energy
 ORG.AX  
    ** Adds Woodside Petroleum  WPL.AX  is most exposed to spot
LNG prices with ~30% of its 2020 LNG sales sold at spot
equivalent pricing
    ** Santos Ltd  STO.AX  remains broker's top large-cap pick;
lauds the defensiveness in Santos' low-cost operating model
    ** Beach Energy  BPT.AX  is our preferred mid-cap for its
valuation metrics and strong growth outlook - RBC
    ** RBC's top pick in small-caps is Karoon Energy  KAR.AX ;
believes co's Baúna project has relatively low-risk production
growth upside

 (Reporting by Shruti Sonal in Bengaluru)
 ((Shruti.Sonal@thomsonreuters.com; Twitter: @shrutisonal26))
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