Latest from the Blog
Oil price, Predator, Solo, Zephyr, TMS.
WTI $40.83 -5c, Brent $42.62 -31c, Diff -$1.79 -26c, NG $2.80 +2c Oil price A very modest fall yesterday, today it's a small rise but no massive direction from the market. Yesterday the meeting of the Opec JMMC gave some cheer to the market by saying that it would 'support the market' whilst the KSA is still emphasising its 'commitment and intent' to the oil price. The continuing return of Libyan crude will be worrying the JMMC but it's probably the aggressive rise in Covid numbers hitting demand that is of bigger worry. Retail gasoline prices are still flat, at $2.150 per gallon it is down 1.7c on the week, 1.8c on the month and 66.2c y/y. There is still activity in the US shale in terms of corporate and M&A, yesterday ConocoPhillips confirmed that it was buying Concho for $9.7bn in the biggest deal in the space since prices fell and it looks like Pioneer are planning a takeover of Parsley, which is mainly interesting as it pitches father v son who are CEO's of the two companies... Predator Oil & Gas PRD announces that with regard to its CO2 EOR operation in Trinidad that the Energy Ministry has ...
Oil price, Zephyr Energy, Total Market Solutions Podcast. And finally…
Oil is drifting and was around even on the week. Zephyr Energy has announced a raise of £2.25m which is more than enough to cover their costs of the dual use well in the Paradox Basin. I link to a Podcast with Total Market Solutions as part 1 of 2.
Oil price, JOG, Providence/Lansdowne, Trinity. And finally…
Back down again today as world markets dive on the increased virus numbers. I link to the JOG story of Buchan video which is very much worth watching, meanwhile I follow up on a meeting with Alan Linn, CEO of Providence Resources. Finally I cover the Trinity update where they continue to produce well from existing well stock.
Oil price, Union Jack, President, Touchstone, GMS. And finally…
Oil rallied yesterday as Chinese oil imports rose m/m and y/y quite substantially. Union Jack has bought a large chunk of North Kelsey from operator Egdon who now both have a 50% stake. President has spudded the EVN-1 well at Estancia Vieja whilst its workover rig is prepping LB-1001 for testing and production. Touchstone has hit paydirt at the Chinook well making 3/3 significant gas finds. Finally the mess that is GMS and Seafox is coming to a head, quite what these shenanigans are supposed to gain for shareholders is not clear.
Disclaimer: Malcy’s Blog is provided for general information about the international oil and gas industry and the companies that operate within it. It does not constitute investment advice and Malcy does not buy or sell shares, warrants or bonds in any company written about within the blog. Information is taken from publicly available sources and any comment is that of the author who does not take any third party comment in the publication.