12 Best Gas Stocks To Buy According to Hedge Funds

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10. Shell plc (NYSE:SHEL)

Number of Hedge Fund Holders: 48

Shell plc (NYSE:SHEL) is a major British multinational oil and gas company operating in over 70 countries. It is one of the largest energy companies globally, with a growing focus on natural gas as an essential part of its business strategy. Shell plc (NYSE:SHEL) ranks among the best energy stocks to invest in.

In July 2024, the company announced the final investment decision (FID) for the Manatee project, an undeveloped gas field in Trinidad and Tobago. This project will enhance Shell plc’s (NYSE:SHEL) Integrated Gas business and is expected to start production in 2027. Manatee is expected to reach peak production of about 104,000 barrels of oil equivalent per day (boe/d). The Manatee project builds on Shell plc’s (NYSE:SHEL) existing operations in the East Coast Marine Area, which includes some of the country’s most productive gas fields.

In August 2024, Shell plc (NYSE:SHEL) and PetroChina announced plans to develop Phase 2 of the Arrow Energy Surat Gas Project in Australia. This phase is projected to contribute around 22,400 boe/d at peak production and will supply gas to the Shell-operated QCLNG facility. This initiative reflects Shell plc’s (NYSE:SHEL) commitment to increasing gas supply in line with long-term contracts.

Additionally, on December 16, 2024, Shell plc (NYSE:SHEL) also confirmed the final investment decision for the Bonga North project off Nigeria’s coast. This deep-water project will involve drilling 16 wells. Bonga North has estimated recoverable resources exceeding 300 million barrels of oil equivalent (boe). Shell plc’s (NYSE:SHEL) strategic investments in gas projects and its commitment to expanding production capabilities position it well for future growth.

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