EnergyQuest claims listed companies operating in the Cooper basin have lost an average of 70% of their market values since oil prices began their steep decline in June last year.
According to the group, this has increased the likelihood of new mergers and acquisitions of players active in the region.
“In a comparison of oil and gas company share prices as of 11 September this year compared with early in June 2014, prior to the oil price weakness, the only Australian company in the group which has escaped the impact of lower oil prices is AGL, which has minimal oil price exposure,” EnergyQuest chief executive Graeme Bethune said.
“The biggest falls have been for Cooper basin players, averaging a 70% downturn in the...
