Strike Energy Could Delay West Erregulla Startup -- Market Talk

Dow Jones10-25

2243 GMT [Dow Jones]--Strike Energy might find it prudent to delay starting up its West Erregulla natural-gas project, suggests Wilsons. Doing so would protect its balance sheet. Analyst James Karakatsanis thinks much hinges on the performance of the Walyering gas field in Western Australia. Wilsons estimates Walyering could generate free cash flow of A$63 million annually for two years. That would bolster Strike's existing liquidity of A$62 million and undrawn debt of A$100 million as it considers developments such as West Erregulla. Still, Wilsons assumes that Walyering produces at materially high rates than it does right now. "We think as a result, we could see West Erregulla first gas be delayed into 2027 as a precaution to better match costs with Walyering free cash flow," Wilsons says. It has an overweight rating on Strike Energy's stock. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

October 24, 2024 18:49 ET (22:49 GMT)

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Doing so would protect its balance sheet. Analyst James ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"STX.AU","symbol_name":"STRIKE ENERGY LTD","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2478690067","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2478690067","pubTimestamp":1729810140,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"2243 GMT [Dow Jones]--Strike Energy might find it prudent to delay starting up its West Erregulla natural-gas project, suggests Wilsons. 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