Oil price, Rockhopper, DGO, SDX, Wentworth

Oil prices vacillated ahead of the Opec+ meeting tomorrow but the EIA STEO yesterday showed yet again lower demand numbers and the US going back to being a net importer this year. Rockhopper showed a good set of figures with further strong cost cutting and the Navitas deal validating Sea Lion. DGO have made an acquisition just as expected in these markets, accretive returns will 'validate' the dividend. SDX have a discovery in Egypt and Wentworth has comforted the market with regard to its 2019 results.

Oil price, RockRose, DGO, JOG, Petrofac

While down around a dollar this morning as the Opec+ meeting is moved to Thursday there is still optimism that a deal will be done. RockRose has leapt out of the starting stalls to release 2019 results as soon as the FCA allow. DGO are looking very smart after not being badly affected by the virus or the hydrocarbon prices. JOG have hired a legend formerly of Shell to help with the GBA which is good and Petrofac have swung the axe like others in the industry.

2020-04-06T14:01:05+01:006 April 2020|Categories: Daily Blog|Tags: , , , |0 Comments

Oil price,BP/Shell, Angus, Hunting

Oil bounces big time, both yesterday and today as President Trump talks to MbS who possibly along with Putin may cut 10-15m b/d, Opec+ announce a virtual meeting on Monday morning, but will Putin dial-in, Zoom or MS Teams it? I interviewed Angus Energy MD, George Lucan yesterday and we had an interesting chat about what is an interesting play. Finally Hunting swap their 6c final with a 3c second interim after yesterday Wood Group withdrew its announced divvi altogether.

2020-04-03T12:25:32+01:003 April 2020|Categories: Daily Blog|Tags: , , , , |3 Comments

Oil price, Genel, GKP, Coro, Egdon

Yesterday was down on economic news and filthy (though expected) inventory stats but today is better as Putin and Trump wish the oil market better again. Genel has received $33.2m from the KRG covering October exports and GKP $12.m. Coro has rung the changes today with a restructuring which has left CEO James Menzies out of the company as cost savings are made in Italy and Indonesia. Finally Egdon have said they need an impairment of some £2.5-3m in the upcoming interims.

2020-04-02T11:55:29+01:002 April 2020|Categories: Daily Blog|Tags: , , , |0 Comments

Oil price, BP, Sound, Echo, Eco, Wentworth

Oil has been very much unchanged over the quarter end and contract rollover and is so today, a lot of talk about who has spoken to MbS... BP have announced 25% capex cuts, in line with others whilst Sound Energy are still discussing their GSA in Morocco. Echo Energy has been restructuring its debt with a number of successes already agreed and Eco Atlantic has pared back costs and remains very well placed when drilling recommences. Finally, I spoke to Wentworth Resources this week and I am convinced that with their very strong model and solid finances they are as good as any in the sector.

Oil price, Predator

This will prove to have been a horrible quarter, some short closing may be wise but there will still be winners long term. One of those could well be Predator who update the market today, with all that time at your disposal I would do some research on it, it might prove time very well spent.

2020-03-31T11:19:23+01:0031 March 2020|Categories: Daily Blog|Tags: |0 Comments

Oil price, RockRose, iog, Block, Falcon

Oil staged a modest rally, given back this morning, as the US Senate passes the Stimulus Bill whilst Secretary Pompeo talks to MbS about global energy security. I look at RockRose who have not put results out but instead a bullish operations update, also iog who have actually announced results today. Block look like they have done a cracking deal in Georgia with the fleeing Schlumberger. Finally Falcon succumb to COVID-19 as drilling stops at Kyalla.

2020-03-26T12:34:42+00:0026 March 2020|Categories: Daily Blog|Tags: , , , |0 Comments