A bounce from lows yesterday when WTI ducked below $50 at one stage, recovered with talk of Russian production cuts. At the Tullow CMD they bigged up Guyana, a new and ‘game changing’ project, imagine what it means for Eco Atlantic with 2/3 wells to be drilled next year. Providence have delayed Barryroe but hopefully by only a quarter.
As Malcy Looks Down The Barrel Of The Oil Market, What’s Next? Listen on the Total Market Solutions website: https://total-market-solutions.com/2018/11/29/malcy-talks-oil-gas-vi/
Oil prices remain weak ahead of the uncertainty that is G20 and Opec+. For IOG it’s a delay for the Blythe and Vulcan hub project until better times for financing appear and for the Wressle partners the amateur army at North Lincs Council continue to have their Luddite way…
Flash blog on President completing Rio Negro acquisition with all the benefits that brings. Pantheon finally bring on VOS#1 albeit at a modest level and Eco Atlantic completes its farm-out to Total thus firing the starting gun for Orinduik …..
An up day for oil as speculators suspected some production falling ahead of the Opec+ meeting next week. Rose Petroleum do a canny deal with Encore and their database keeping exposure, enjoying Vanadium and chance to get stuck into the Paradox Basin. President spud well three in Puesto Flores and IGas spud Tinker Lane, at long last. Faroe start their defence campaign and i comment on a dry hole for Petro Matad and a good move from Lamprell.
Malcy talks about the following stocks: Faroe Petroleum #FPM, SDX Energy #SDX, President Energy #PPC, Amerisur Resources #AMER, Petro Matad #MATD and Rockrose Energy #RRE
Another bad day for crude as supply worries persist ahead of the Opec+ meeting next week. Good figures from SDX as expected and also as expected an opportunistic bid for Faroe from DNO. Frontera also announce mobilisation of a workover rig to the Taribani field.
Thanksgiving Holidays make for thin volume and volatile markets ahead of Dec 6th. Amerisur reveal a significant farm-out to Occidental Andina in Colombia worth $93.25 accelerating their programme and franking value in the portfolio. Elsewhere Reabold announce plans to drill two wells in California and RockRose announce a 95.2% take up of their tender offer. Finally Infrastrata have completed their FEED early and on budget and now need to find the project funder and EPC contractor.
Malcy talks about the following stocks: Sound Energy #SOU, Premier Oil #PMO, President Energy #PPC, Faroe Petroleum #FPM and Empyrean Energy #EME