Blog archive
Oil price, IGas, President, Coro, Longboat, Africa Energy, Falcon. And finally…
Oil has rallied today after a bad day yesterday when virus worries hit markets very hard. Today there is some modest relief but don't hold your breath. IGas interims show that good management counts, President continue to succeed in workovers and the drilling programme is underway. Coro figures are irrelevant but the increase in resources at Mako is substantial whilst Longboat are patiently stalking their targets. Africa Energy raise more than expected for drilling with Total in South Africa and Falcon update the market from the Beetaloo.
Oil price, Union Jack. And finally…
Oil has bounced, after the JMMC yesterday the meeting warned on member adherence but more significantly the KSA has said it will take on the 'gamblers' in the oil market, if necessary holding an extraordinary meeting to keep the market tight. Union Jack Oil raised £7m in a significantly oversubscribed placing and subscription yesterday which keeps them well funded for a very long time.
Oil price, IGas, Premier, Block.
Oil has rallied for two days now despite mixed messages from the market. In company news IGas is making an interesting move into geothermal heat by taking over GT Energy for shares. Premier are now being forced to speak to other market players which is all they need at the moment. Finally another TR-1 from Block Energy makes one think that the pantomime season isn't far away...He's behind you........
Oil price, DGO, President, Genel, Rockhopper.
Oil continues to drift but news is mixed, the virus vaccine is back into trials and economic data from China is better. Tropical Storm Sally is headed towards shore and the GoM is shutting in but this one may hit refineries more with flooding. DGO has confirmed its super dividend for UK shareholders and President report more operational success in Argentina. Rockhopper remains an interesting geared option on Sea Lion and its arbitration case. Finally, Genel has announced publication of its first comprehensive sustainable report and looks to be well placed and very investible.
Oil price, Union Jack.And finally…
Oil continues to drift tracing the rise in virus numbers worldwide, Tropical Storm Sally is about to become a Cat 2 hurricane as it approaches Louisiana. Union Jack Oil has interims and has been working hard to get its three key developments drill ready and is looking for 'significant progress'.
Oil price, Genel, Sound, Pharos, Hurricane. And finally…
Oil has drifted again today, the delayed EIA inventory stats were hit by Laura, although crude built 2m barrels products drew as refinery utilisation fell with some refineries still closed. Genel announces that they may raise up to $300m to replace existing facilities, wise move from a position of strength. Sound's interim statement is short, nothing new but we know the new management are flat to the boards right now. Pharos has received permission for the full field development plan at TGT and Hurricane have taken a sharp knife to the CPR under new management..
Oil price, Serica, Jadestone.
Oil rallied off Tuesday's lows but the API stats and the STEO were mainly downbeat. Serica announces results and looks in an incredibly strong position with £101m of cash and rising gas prices. Jadestone also has interims which show that despite reducing guidance for this year the outlook is more than promising.
Oil price, Kosmos, PetroTal, Echo, Premier. And finally…
Oil fell hard, previous Saudi action to offset lower Asian demand as well as lower domestic demand as two major refineries remain closed hit the market. Kosmos has sold a package of assets to Shell and PetroTal hope to get the Bretana field up and running 'imminently'. Echo Energy has splashed out, albeit on the strap, on 4 gas compressors previously leased as well as bring back some shut-in production. Finally, in case you missed it in the late blog yesterday I rerun the link to my interview with Premier Oil CEO Tony Durrant.
Oil price, Premier Oil, United Oil & Gas. And finally…
Oil has cracked down as equity markets are worrying about Covid-19 and demand knock on effects. I have today interviewed Premier Oil CEO Tony Durrant about operational performance and the upcoming financial restructuring. I also look at United Oil & Gas after an interview with CEO Brian Larkin, it looks most interesting with defensive capabilities and plenty of upside.
Oil price, Chariot, Jadestone, i3, Pantheon, Deltic. And finally…
Oil fell at the end of last week as Aramco started to cut prices to its Asian customers as demand falters in the region. It's Labor Day today so the US is on holiday but elsewhere oil had dropped around 70 cents. Chariot has announced yet another significant upgrade at Anchois on the Lixus licence in Morocco, it gets better and better. Jadestone has rearranged its offtake agreement saving c.20% in the process and i3 has completed the Gain deal which looks pretty interesting. Pantheon are now double handed with applications in for both Alkaid and Talitha in Alaska and I speak with Deltic looking at their 32nd round awards.