Oil & Gas Equity Capital Market Valuations Report 1Q 2021

In This Edition

The outlook in this quarter has been dominated by the vaccine program, or rather the rate at which vaccines are being rolled out and “normality” can return. In this respect, everything else has become of secondary importance.

Supply, at the moment at least, is not even being considered, which for the consumer is a good thing, but for those that need to set long-term plans and promotion strategies to ensure supply security, this is beginning to be a significant headache.

The increased optimism and stronger commodity pricing have both been reflected in improving valuations in the equity markets, across the board we have seen 20 to 30% increases in underlying implied values, and with more confidence in the forward price, which is now comfortably in excess of $50/bbl, the debt market is starting to open up once again.