MARKETS

Aussie shale battler boosts production by a mile

AUSTRALIS Oil & Gas increased production in the third quarter after shutting in much of its US onshore Tuscaloosa Marine Shale acreage when oil prices were at their worst and the company's share price hit 0.8c compared to a January price of 9.5c and mid-2019 highs of over 20c.

Tuscaloosa Marine Shale

Tuscaloosa Marine Shale

The company was shed from the All Ordinaries in mid-June and revenue fell 51% in the June quarter over the prior. Australis has now bounded back somewhat, re-opening wells which briefly outperformed due...

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