Oil is off a bit this morning but is up nearly $4 on the week, another good show for the asset class. Jadestone issue 2021 guidance and announce a return to investment and growth. And I interview George Lucan CEO of ANgus Energy.
Oil bounced back and Brent is back over $67. Eco Atlantic has produced results and an operating update, the company looks in great shape.
After a booming start to the week oil was quiet yesterday, it started well but after I published Wall Street panicked about Fed Chairman Powell and all started to fall. After the close the API stats were a mixed bag and not as good as forecast but with concerns that some oil production shut-in in Texas might never return rallied the market today. PetroTal has announced a useful set of reserves numbers with a decent upward revision. I look at Savannah where i saw an article about the Calabar power station helpful for SAVE long term. Echo has upgraded facilities in Argentina and Lamprell has won a contract from Saudi Aramco as part of the LTAP.
After a quiet week oil is off to the races again, a combination of good virus and vaccine news from the US and continued loss of production and refining from Texas will hinder US supply for the tie being. Coro Energy has made an acquisition in SE Asia which brings with it a new CEO and the company is raising some £5m. i3 Energy has announced a good update with potential for more.
After all the Hullabaloo oil was even last week, today however it has tipped upwards again. I look at Chariot who have signed a collaboration Agreement with Subsea Integration Alliance for Anchois. Angus Energy are positive after news that their loan has seen substantial subscription. President update on 2020 and give guidance for 2021 whilst Echo publish their bond restructuring details.
Oil is weaker today after the storm in Texas shows signs of moderating, the US are taking the expected anti Saudi Arabian stance as well as resuming talks with Iran. The EIA inventory stats showed a big crude draw and an expected build in gasoline and draw in distillate stocks. Union Jack has announced a 200:1 share consolidation and confident statement whilst Wentworth join the United Nations Global Compact. Finally Sterling Energy have announced big changes, Waterford and Mistyvale have sold their stakes which have been placed with institutions and HNW's. This paves the way for ex Tullow team of Paul Mc Dade and Ian Cloke to come in and utilise their expertise in West Africa.
Oil is up another 50 odd cents today so the squeeze continues, with bad weather across the USA oil and natural gas production is still sharply down as is refining capacity. PetroTal has announced its 2021 capital budget
Oil powers on, up again today WTI is up 82 cents and Brent over a dollar up at $64.43, even Sea Lion goes at this price...!It was all about the storms in the US which now run from Dallas to Boston and are here to stay. Even the Houston Ship Canal was shut last night... PetroTal has completed its $100m bond issue which puts it in a very strong position to reorganise the debt and invest in the Bretana field growth. Far is on the receiving end of another Non-Binding offer this time from Lukoil and I look at Remus Petroleum who have been involved in both these companies recently.
Crude oil continues to rise with Texas freezing over and the market a shambles as companies buy power on the market. With vaccinations rising and Covid cases falling 'dramatically' the US is looking up. Genel update on reserves and resources and remain in a strong position, BPC meanwhile update on post P#1 news and plans for Trinidad, Suriname and Uruguay. Block are selling gas in Georgia at last and GKP also have a positive reserves report on Shaikan.
Oil is continuing to rise, the US is closed today but the favourable winds are blowing. Predator are looking very strong with good news from Trinidad, drilling in Morocco looks like to be going ahead shortly and even the Irish LNG project is back on the front burner again. Pantheon have prelim results from Talitha #A which looks good and is testing. Finally UOG has initial results from ASH-3 which seems positive.