88 Energy Limited (ASX: 88E) is an oil and gas exploration company listed on the Australian Securities Exchange (ASX) and the London Stock Exchange (LSE). The company’s primary focus is on the exploration and development of oil and gas resources in Alaska. The 88e Share Price as of this post is at 0.53 GBx.
As of September 2021, the stock price of 88 Energy Limited on the ASX was around 0.4 cents per share.
88 Energy Limited is an oil and gas exploration company established in 2005. The company’s headquarters are in Perth, Western Australia, and its offices are in Houston, Texas, and Anchorage, Alaska.
In its early years, 88 Energy focused on acquiring exploration licenses and conducting seismic surveys in the United States, particularly Alaska. In 2015, the company acquired a 77.5% working interest in Project Icewine, located on the North Slope of Alaska, and covered an area of approximately 271,000 acres.
Since then, 88 Energy has been focused on exploring and developing the resources in Project Icewine, which is believed to contain significant oil and gas deposits. In addition, in 2020, the company announced a significant oil discovery at its Peregrine well on the North Slope of Alaska.
Over the years, 88 Energy has raised capital through various means, including private placements, rights issues, and share placements. As a result, the company is listed on the Australian Securities Exchange (ASX) and the London Stock Exchange (LSE), allowing investors to invest in its exploration and development activities.
- Strong focus on exploration and development. 88 Energy Limited is focused on exploring and developing oil and gas resources in Alaska. The company has invested significant resources in conducting seismic surveys and drilling wells. In addition, it has made significant discoveries of oil and gas resources. This intense focus on exploration and development can yield solid returns for investors if these resources are successfully extracted.
- Experienced management team. 88 Energy Limited’s management team has significant experience in the oil and gas industry. The team has a strong track record of successfully managing exploration and development projects in challenging environments and profoundly understands the local regulatory and business environment.
- Portfolio diversification. Investing in 88 Energy Limited can potentially provide diversification benefits for investors’ portfolios, particularly those looking to invest in the energy sector. The company operates in a different geographic location and focuses differently than other oil and gas companies, potentially reducing risk through diversification.
- Access to capital. 88 Energy Limited has raised significant capital over the years through various means. This includes private placements, rights issues, and share placements. This access to capital can provide the company with the resources it needs to continue exploring and developing its resources in Alaska, potentially leading to strong returns for investors.
Main Competitors of 88 Energy Limited
88 Energy Limited operates in the oil and gas exploration and production industry. Some of the company’s main competitors in the industry include:
- ConocoPhillips. ConocoPhillips is a major global oil and gas exploration and production company. The company has significant operations in Alaska, including on the North Slope, where 88 Energy’s Project Icewine is located.
- ExxonMobil. ExxonMobil is one of the world’s largest oil and gas companies and has significant operations in Alaska. The company has been active in Alaska for several decades and has significant experience operating in the challenging Arctic environment.
- BP. BP is another major oil and gas company with significant operations in Alaska. The company has been active in Alaska since the 1950s and has invested significant resources in exploring and developing the state’s resources.
- Royal Dutch Shell. Royal Dutch Shell is a multinational oil and gas company with operations in Alaska, including in the Arctic. The company has significant experience operating in challenging environments and has invested significant resources in exploring and developing Alaska’s resources.