Blog archive
Oil price, DGO, GKP, Ascent Resources, Petro Matad And finally…
A slight, hardly noticeable pick up in crude prices as the US waits for its $2tn and the Saudi/US alliance....DGO has announced an extended Ohio asset agreement again demonstrating its commitment to its asset retirement programme. GKP has decided to suspend both dividend and share buy-backs as Shaikan expansion is stopped by the virus and lack of payments for its crude. Ascent has started the process of coming back to life with a potential move in to the Caribbean and Hispanic areas. Finally, delayed from yesterday a quick look at Petro Matad who have an update out.
Oil price, Shell, Sundry
Friday went pear shaped again as a combination of demand led factors brought oil back. Today a quick mention of Shell who have found around $10bn of cost cuts from the portfolio. Sundry companies will delay results after a request from the FCA and Petro Matad had an operations update I will talk about tomorrow after a chat with Mike Buck.
Sound Energy
Sound Energy make progress with the approvals for building the gas treatment plant, including a possible LNG option. The deal also covers most of the planning needs for the pipeline.
Oil price, Hurricane, Genel, Rockhopper, Jadestone.
After yesterday's disaster oil has rallied today but not enough methinks. Today i look at the Hurricane results which are incredibly good after the Lancaster EPS has delivered up with guidance but what a time to do so. Genel follow up yesterday's report with results that show how resilient they are at $30 with a flexible capex structure and able to pay a big divvi. Rockhopper , like others are keeping their heads down and still talking to Navitas whilst Jadestone just had a lucky black cat moment...
Oil price, JOG, Genel.
Oil continues to fall as traders see an open door to push against, until someone draws a line in the sand it will remain uncertain. JOG has updated again with the bottom line being relatively positive as it puts its head down to develop the GBA. Genel, with figures tomorrow has a reserves update today which show that despite some reductions the way that it has built a model with resilience to low oil prices is highly creditable.
Echo Energy, Kosmos Energy
Echo Energy is making costs cuts in order to hopefully be operationally more positive on cash flow at Santa Cruz Sur in Argentina. Meanwhile Kosmos has indicated some $100m of capex will probably fall as will the dividend, either way the company remains very strong.
Oil price, JOG, GKP…
Its Black Monday with the Fed cutting rates to zero, making asset purchases of $700bn making no difference, as I write Wall Street is down 2400 points, the UK down 400, oil is off 10%.Jersey Oil & Gas is holding its own as it announces good news from the Greater Buchan area. GKP concludes the buy-back but suspends a well and may slight delay its plan for 55/- bopd.
Oil price, IOG, Premier, Reabold, Tower, BPC, President, VOG, Pharos, SDX -And finally…
It seems that despite the occasional up day like today most are down, except the shipping market which is like Christmas Day at the moment. Today i look at iog with a very decent plan for the project, Premier which like others is struggling, Reabold with cheap production in California, Tower an up to date CPR, President with prices in Argentina might be sticking, VOG with new CEO Roy Kelly, Pharos looking ok but Egypt might take the brunt and a success for SDX. And BPC who have delayed their well...
Oil price, RockRose, Trinity, PetroTal, Wentworth Resources, DGO – And finally…
The oil price has fallen further and faster than virtually ever before, today it recovered, stand by for stormy weather. Stock-wise i'm talking about RockRose, Trinity , PetroTal, Wentworth and DGO from yesterday, with apologies.
Hurricane, Echo
Hurricane updates on the GWA JV agreements ahead of the Capital Markets day and Lancaster is still producing20,000 b/d. Echo update on operational and corporate with production going well and increasing debt as a precaution in case of demands on working capital.