Oil companies with low debt

[Stomp101]

Oil will continue to be used for the foreseeable future. However, with all the ESG pressure on the Finance industry there will be a rush to stop / reduce funding to the Oil industry. As a result I believe that those oil companies that are not reliant on debt will benefit and so will their shareholders. Do such Oil companies exist and if so who are they?

[Dod101]

Although oil is a fossil fuel I doubt that anyone really accepts that we can do without oil for quite some time. In any case they can and are actively reducing their harmful emissions so I feel fairly relaxed on your point. You may be right though but I cannot help with your actual query.

Dod

[Wyneric]

As a result I believe that those oil companies that are not reliant on debt will benefit and so will their shareholders. Do such Oil companies exist and if so who are they?

Serica Energy (SQZ)
Price 195p
Shares 286M
Mkt Cap around 522M?

No debt, in fact I think they still have some tax credits.?
Production currently around 26,000 boed (all North Sea, 80% gas 20% oil), imminently to increase by aound 3,500 boed with production starting from Columbus, and a substantial increase in receipts from the Rhum field, when the current deal with BP comes to an end in 6 weeks time.
SQZ supply around 5% of UK gas
As of end of June, £92 million in the bank...and this was before the gas price really took off.
Expenditure next year looks like being just the North Eigg drill, which if successful, would swiftly connect to their existing Bruce platform.
They recently started paying a reasonable dividend.

IMHO
The share price has dropped in the last 2 or 3 weeks, I believe, mainly due to Institutional selling (although COP26 probably didn't help). GRG started selling in January and are just about finished having offloaded around 18%? of SQZ. AXA have just now started but they are known to trade back and forth. In both cases, the sell off "appears" to be related to ESG more than anything else.
Here is a recent announcement from AXA
https://www.fnlondon.com/articles/axa-i ... y-20211108

Blackrock and JPMorgan have since bought a few. BP still hold around 5% but difficult to see why they might hold on beyond this year if the price is right.

Last presentation
https://www.serica-energy.com/downloads ... tation.pdf

Current major shareholders
https://www.serica-energy.com/shareholder-information

Also worth looking at some of the chat on LSE and ADVFN for some interesting thoughts and projections for next year.
I do hold SQZ
aimo & dyor