This Data Book provides a reference guide to the listed oil and gas equities, and their performance.
Contained within it is the principal valuation metrics listed by company, which are used to compile the OGA Valuation Book, which is published contemporaneously.
The sector continues to face headwinds, which don't include the oil price, at least for the foreseeable future.
The underinvestment in the sector has had a significant impact on prices in the 12 months since our last publication, but this has been nothing compared with the vilification of the sector by the majority of incumbent ruling parties.
As with ESG metrics continue to undermine sector valuations, despite increasingly healthy cash flows.
Nevertheless, liquidity is becoming more scarce, and the number of regions that are investment grade for oil and gas is diminishing.
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