A flash blog today as I am away from my desk, oil fell yesterday as the dollar rose on inflation concerns. Challenger has updated on Saffron-2 which looks very exciting and VOG has announced details of a financing with Meridian Capital, again more later.
Savannah has announced that it is looking at a deal involving Exxon's assets in Chad and Cameroon, this involves a suspension as it will be a RTO.
Tomorrow I am speaking at the Frontier European E&P Summit, first 10 get free tickets next get 50% off exec tickets normally £100.
Oil is still in the doldrums, trading in a narrow range whilst the vaccine rolls out but Covid is still rampant in some areas of the world. JOG has made an inspired call in their new NED, Les Thomas former CEO of Ithaca Energy with his detailed knowledge of the North Sea. And Coro have given an updated operational update following the recent acquisition of the Global Energy Partnership.
It looks like West Newton has come in big time, well done the believers. And Zephyr are getting closer to drilling in the Paradox Basin.
Sound has crept in with a fund raise, possibly two today, getting funded through to March 2021 is a fine achievement and longstanding supporters should be pleased.
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.
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.
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.
Good figures from Premier and update from Angus, very much in haste from US.