Takeover Talk: SYD, SXY, API
Three deals advanced to the closing rounds of their respective games yesterday, involving Sydney Airport, Senex Energy and Australian Pharmaceutical Industries.
Read MoreTag: SXY
SXY – Macquarie rates the stock as Outperform
Senex Energy’s CSG production continues to ramp up gradually, Macquarie notes. The broker sees production broadly tripling to FY23. Outperform and 45c target retained.
Read MoreSXY – Morgans rates the stock as Add
Senex Energy has announced the sale of its Cooper Basin assets to Beach Energy ((BPT)) for $87.5m, which sits at a premium to Morgans $54m valuation.
Read MoreSenex Deal Sees Beach Energy Expand Cooper Basin Footprint
Shares in the Kerry Stokes-controlled Beach Energy jumped yesterday after it announced plans to buy Senex Energy’s assets in Cooper Basin for $87.5 million.
Read MoreSenex Energy At Forefront Of Gas Expansion
Senex Energy is forging ahead with its gas expansion in Queensland, acquiring new acreage to enable a doubling of capacity from that previously outlined at the FY20 results. Is capital management next?
Read MoreSXY – Morgans rates the stock as Add
Senex Energy has been awarded preferred tenderer status on two new blocks in the Surat and Bowen Basins.
Read MoreSXY – Credit Suisse rates the stock as Outperform
FY20 earnings were at the top of guidance although interest expenses were higher than Credit Suisse estimated because of the lease accounting.
Read MoreSXY – Macquarie rates the stock as Outperform
FY20 earnings guidance has been upgraded by around 10% to $45-55m because of the narrowing of production guidance.
Read MoreSXY – Credit Suisse rates the stock as Upgrade to Outperform from Neutral
First-half results were in line with expectations. Operating expenditure was ahead of expectations and this, along with sustaining capital expenditure, remains the key uncertainty and driver of value, Credit Suisse suggests.
Read MoreSXY – Credit Suisse rates the stock as Neutral
The strong ramp-up in gas production in the December quarter has been offset by softer prices. Credit Suisse suspects declining LNG netbacks stemming from weak LNG spot pricing will have limited impact on Senex Energy because of term contracting.
Read MoreSXY – Credit Suisse rates the stock as Neutral
The Roma North gas facility was commissioned on May 27. The company is on track to deliver processed sales gas to GLNG by mid-2019. The main concern for Credit Suisse is the pace of the production ramp-up upstream rather than the processing facility.
Read MoreSXY – Credit Suisse rates the stock as Downgrade to Neutral from Outperform
Credit Suisse believes Senex Energy is well positioned to benefit from higher domestic gas prices, as Project Atlas ramps up over the next two years. Yet, while the company has been touted as a takeover target, no bid has emerged.
Read MoreSenex Wins Surat Basin Gas Project
Senex Energy shares jumped almost 6% yesterday after it became the preferred tenderer for the first major gas project in the Surat Basin to produce for supply for domestic consumption only.
Read MoreSenex Joins The Cutting Brigade
BHP Billiton’s (BHP) US oil and gas cuts naturally dominated business news yesterday. So a much smaller hacking and slashing by oil and gas tiddler, Senex Energy (SXY) was overlooked by most investors.
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