Sachinsyd just because a company is bigger doesn't make them...

Sachinsyd
just because a company is bigger doesn't make them safer .
Sto have peaked debt wise , are short gas for their LnG and are suffering cash flow wise from fall in oil price - DLS is much healthier
wpl supported by big dividend . They have ageing fields and need next growth project which they will fund with debt given current SP ( equity not a great option ) and can flows and divi likely impacted . They all have a higher net debt % than DLS

i like both sto and wpl , but I do think DLS is simpler to value and operationally less risky . Remember also that DLS benefits from a fall in aud so although it increases AUD debt is also increases the realised oil price. DLS gets a few dollars premium to brent which is currently 85 aud , so I would estate realised oil price about 87-88 . Cash flows are still robust as is production and future production