Mar. 16 at 11:57 AM
$EEENF just sharing
The Bulls N’ Bears Runner of the Week is Alaskan oil baron 88 Energy. While everything else was caught in a sea of red on Monday, 88 Energy was charging ahead with the spiking oil price.
As oil surged 25 per cent, 88 Energy’s share price more than doubled after news hit the market of its proposed oil hub on Alaska’s prolific North Slope.
The North Slope is home to some of the largest oilfields in the United States, with the company’s acreage sitting in the same neighbourhood as heavyweight operators such as ConocoPhillips, ExxonMobil and Hilcorp Energy. The company is particularly highlighting the prospectivity of its flagship Prudhoe project near the giant Prudhoe Bay Oil Field.
As the crude prices surged, the narrative around secure domestic US supply took hold and 88 Energy’s shares flew off the shelves on Monday, while almost everything else struggled to catch a bid.
Continues in comments….
