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FECCF - Frontera: Misconception Of Risk Leaves This Upstream Oil Stock Heavily Undervalued
Pacific Exploration & Production Corp
Oil stocks have taken a battering since the start of 2020 because of the economic impact of the coronavirus pandemic on energy demand and the outbreak of a price war between Russia and Saudi Arabia. While oil has bounced back to see Brent trading at over $40 per barrel, this along with a poor outlook for oil and natural gas is weighing heavily on energy stocks. Oil is still below the breakeven price for many upstream oil producers, meaning that they are pumping crude at a loss.