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Oil price, DGO, Union Jack/Reabold, Scirocco, Aminex, Kistos, GKP. And finally…
WTI $42.42 +52c, Brent $44.96 +76c, Diff -$2.54 +8c, NG $2.65 +6c Oil price Another good week making one believe that there are indeed better opportunities should the current good news on the vaccine front come through. Today's news that the Oxford/AstraZeneca vaccine has also been a success, can be produced swiftly in bulk and more easily delivered and the efficacy is in the 70-90% range dependent on dosage. This is not a sight of the sunlit uplands per se but deserves optimism and we have seen enough sharp spikes in different leading country GDP's already to know that it doesnt take much to stimulate demand. Crude oil prices, up another dollar this morning are reflecting this and also that the worlds leading oil suppliers have taken it on board ahead of the biannual Opec meeting which is now only a week away. Finally the Baker Hughes rig count last Friday showed a fall of 2 units overall to 310 and down 5 in oil to 231. Diversified Gas & Oil DGO announces that the Company’s bank lending group, led by KeyBank National Association, has completed the semi-annual redetermination of the Company’s senior secured credit facility and reaffirmed the existing ...
Oil price, PetroTal, Block, Pantheon. And finally…
Oil is quiet and should end the week decently up. PetroTal has announced 3Q figures which have been hit by the unrest but will pick up before long. Block make some beneficial changes to the Schlumberger deal and Pantheon have raise some £23m in the absence, so far, of a farm-out deal.
Oil price, Zephyr, SDX. And finally…
Oil was up on the day but might have been better after a mixed inventory bag brought prices down a touch. Zephyr Energy has announced that it is full speed ahead on the operations to prepare the site for the 16-2 well in the Paradox Basin and 9m results from SDX are in line with expectations.
Oil price, BPC, Echo.
Oil rallied again as another vaccine was announced to the market. In the meantime the Opec JTC met and stated that October saw 96% compliance ahead of today's JMMC meeting which will advise the main meetings at the end of the month. Bahamas Petroleum are geeing up the market ahead of Perseverance#1 which surely wont need any more publicity. Finally Echo update the market on their VAT position in Argentina.
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.