0429 GMT - Could a new round of energy M&A be coming to the Perth Basin of Western Australia, ponders Euroz Hartleys analyst Declan Bonnick. Beach Energy and Mitsui, partners in the Waitsia JV, are likely interested in more natural gas, given recent reserves downgrades and some poor exploration results, Euroz Hartleys says. "Hancock has shown their interest in the basin and the WA domestic gas market, with a hefty balance sheet to be able to make further acquisitions," such as consolidating ownership of the West Erregulla field, Euroz Hartleys says. Also, major gas users like Wesfarmers have been hit by high gas prices in a tightly balanced market, it adds. They could act pre-emptively to protect margins of products such as ammonia as the local gas market nears a supply shortage around the end of the decade. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
September 18, 2024 00:29 ET (04:29 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。