While 2016 represented the annus horribilis for oil and gas in Australia, 2017 has struck a chord, resonating to an upbeat tempo. The sector has grown nearly 40% on the Australian Securities Exchange (ASX) in the 12 months ending Jan. 31, albeit out of a very deep hole dating back to  January 2016 when Brent crude had fallen to $27.67 per barrel (bbl)—its lowest price in 13 years. With Brent crude trading in the mid-$50/bbl  range, the oil and gas sector has stirred on the ASX with billion-dollar market cap companies leading a recovery with year-on-year growth of 39%, aided by middle-tier companies, which expanded 79%.
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