Price action20 Jan 2022 09:47
Peter Strachan, a Perth-based independent energy analyst, said “the Buffalo field was producing 4,000 BOPD when it was shut down. This result negates any chance that there will be +30 million barrels left. There may be 10 million or 12 million barrels left and that could be a proposition at US$88/barrel oil prices, but for someone else I’d suggest, possibly a group that has access to cheap and mobile production infrastructure.”