WTI $64.50 -$1.06, Brent $69.02 -44c, Diff -$4.52 +62c, NG $3.19 +3c

Oil price

The general drift continues and yesterday indices fell in advance of the State of the Union address, this morning oil is also down by around 40 cents.

Echo Energy

An update from Echo this morning in which the company announces that it has completed the acquisition in Argentina and is now ready to initiate the 2018 work programme. Tenders for the planned seismic programme have been issued and also a slot has been reserved for the four exploration well programme scheduled to start in Q2 2018. With $32m in the bank Echo is fully funded for this years exciting programme which one might expect to hear about in a few months time.

Range Resources

Quarterly update time for Range where production is up 9% on the previous period at 651 b/d. The two acquisitions in Indonesia and Trinidad were completed so investors can look forward to these providing significant interest this year. After the quarter end the GY 684 development well at Beach Marcelle was brought onstream at 120 b/d.

i3 Energy

i3 has raised £2.57m at 30p and has other ‘multiple funding options at an advanced stage’. Farming out of Liberator appears to be close to completion and also some of its applications in the 30th round. One to watch although plenty to do.

And finally…

Briefly, last night Prem programme saw the Swans continue their winning ways by seeing off the Gooners 3-1, the HubCap Stealers won any way you like at Huddersfield and the Hammers and the Eagles drew 1-1. The rest of the programme tonight sees the Red Devils at Wembley against Spurs, Chelski play the Cherries and the Noisy Neighbours host the Baggies amongst other fixtures.