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Eddie Rigg says operators are pushing fees for drillers down to an unsustainable level. Photo: Attila Csaszar

Fracking moratorium hit to under-pressure gas plays

The state government's moratorium on fracking is the latest hurdle for onshore energy hopefuls in the Perth Basin, in an environment beset by low oil prices and a lack of confidence in capital markets.

The temporary ban, which was flagged prior to the March election and will remain in place while the government undertakes an independent scientific inquiry, was one factor behind the decision by Whitebark Energy, until recently known as Transerv Energy, to enter the Canadian market.

Transerv had been pursuing gas at the Warro field, 50 kilometres east of Jurien Bay, in an unconventional drilling campaign that met with mixed success, given joint venture partner Alcoa took a $52 million impairment on the project in January.

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Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 31/10/17

1 year TSR5 year TSR
228thBuxton Resources34%-25%
282ndHot Chili23%-40%
468thWhitebark Energy-7%5%
566thRubicon Resources-22%-22%
791stJupiter Energy-72%-33%
726 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

24/07/17
$0 Issued
24/07/17
$0 Issued
24/07/17
$0 Issued
Total value as at the date of the transaction
Source: Morningstar

Revenue

108th↑Buxton Resources$1.5m
109th↓Jupiter Energy$1.5m
110th↑Whitebark Energy$1.4m
111th↑Hot Chili$1.3m
112th↑Rubicon Resources$1.3m
491 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Whitebark Energy

295thStephen Keenihan$394k
942ndCharles Morgan$55k
Ranked by total remuneration from all listed WA companies

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