Drilling Decisions in Periods of Oil and Gas Price Volatility

1989 ◽  
Author(s):  
I.C. Kerridge
Keyword(s):  
Oil And Gas ◽  
Price Volatility ◽  
Gas Price

A Model of Canadian Oil and Gas Price Fluctuations: 2012 Update

2012 ◽  
Author(s):  
Michael David Morgan ◽  
Donald Mikalson ◽  
Leonard Lotar Herchen
Keyword(s):  
Oil And Gas ◽  
Price Fluctuations ◽  
Gas Price

Impact of oil and gas price shocks on the non-performing loans of banks in an oil and gas-rich economy

2018 ◽  
Vol 36 (3) ◽  
pp. 529-556 ◽  
Author(s):  
Abdulazeez Y.H. Saif-Alyousfi ◽  
Asish Saha ◽  
Rohani Md-Rus
Keyword(s):  
Oil And Gas ◽  
Price Shocks ◽  
Gas Price

scholarly journals The Effects of Oil and Gas Risk Factors on Malaysian Oil and Gas Stock Returns: Do They Vary?

Energies ◽  
2020 ◽  
Vol 13 (15) ◽  
pp. 3901 ◽  
Author(s):  
Mohammad Enamul Hoque ◽  
Soo-Wah Low ◽  
Mohd Azlan Shah Zaidi
Keyword(s):  
Risk Factors ◽  
Stock Returns ◽  
Oil And Gas ◽  
Market Value ◽  
Negative Effects ◽  
Firm Level ◽  
Stock Size ◽  
Positive Effects ◽  
Oil And Gas Firms ◽  
Gas Price

This study explores Malaysian oil and gas stocks’ exposure to oil and gas risk factors, paying special attention to subindustry classification, stock size, book-to-market value, and volatility state. The study employs firm-level weekly frequency data of oil and gas firms and several multi-asset pricing models within a GARCH (1,1)-X and Markov-switching framework. The empirical findings reveal that oil price, gas price, and exchange rate exhibit positive effects on the stock returns of all oil and gas sub-industries, but they exhibit negative effects on gas utilities sub-industry stock returns. The empirical findings also reveal that the extent of this effect varies across sub-industry, stock size, book-to-market value, and volatility states. Thus, the findings suggest the existence of asymmetric, heterogeneous, and non-linear exposures.

scholarly journals Do Oil and Gas Risk Factors Matter in the Malaysian Oil and Gas Industry? A Fama-MacBeth Two Stage Panel Regression Approach

Energies ◽  
2020 ◽  
Vol 13 (5) ◽  
pp. 1154 ◽  
Author(s):  
Mohmmad Enamul Hoque ◽  
Soo Wah Low ◽  
Mohd Azlan Shah Zaidi
Keyword(s):  
Risk Factors ◽  
Exchange Rate ◽  
Risk Premium ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Oil Price ◽  
Panel Regression ◽  
Gas Industry ◽  
Systematic Risk Factors ◽  
Gas Price

This study examines whether oil and gas risk factors are priced in the returns of Malaysian oil and gas stocks employing asset pricing model with improved version of Fama-MacBeth two-stage panel regression. The findings reveal that oil price risk, gas price risk, and exchange rate risk are priced factors in the returns of oil and gas stocks, alongside market-based risk factors. Oil price, gas price and exchange rate factors are found to be associated with positive risk premium implying that they are systematic risk factors in the Malaysian oil and gas industry. Investors demand compensation for exposure to changes in oil price, gas price and exchange rate, implying that the risk cannot be eliminated through diversification. The risk premium for common systematic risk factors such as market, book-to-market, and momentum factors are found to be negative. The results suggest that in the Malaysian oil and gas industry, momentum driven strategy produces negative returns and investors receive higher returns from investing in growth oriented oil and gas stocks. Our results offer implications for asset pricing and portfolio management.

The Value of Oil and Gas Price Forecasts

2007 ◽  
Author(s):  
Christopher J. Jablonowski ◽  
Robert Marcus MacAskie
Keyword(s):  
Oil And Gas ◽  
Gas Price
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