Oil prices rally on talk of 1.4m b/d cuts, Sound are at TD in Tendrara and Echo have an upbeat operational update. Zenith figures only the start if things go well this quarter and at Faroe and Cairn they have a success at Agar but Cairn has a duster at Ekland. Premier are operationally in fine form again with much to come, Catcher the star but Tolmount and Mexico looking exciting with appraisals upcoming. Wentworth are still being paid which is good but man cannot live on Mnazi Bay alone, over at Enteq things are improving for Martin Perry.
A properly bad day for oil yesterday after Opec reduced demand forecasts and pushed back the 100m b/d day until next year. Faroe have had a duster in the Norwegian North Sea and JOG have appointed a new CFO.
Oil remains weak, proper action will be needed on Dec 6th. More good news from President with another good well and it looks like more to come, Hurricane’s Aoka Mizu has paused in Spain for re-crewing, refueling and some minor repairs. With Wick and Colter now in sight Reabold, Upland and United Oil & Gas are ready for action. Providence Resources have pressed the button and partners have approved the budget for Dunquin South. Meanwhile over at Velocys its change the guard again and there is much to do.
Another poor week for oil but a decent rally today after Saudi Arabia announced a cut of 500,000 b/d for December. Rockhopper has good results in Egypt and are being paid more with receivables down again, JOG are confirmed to be drilling the Verbier appraisal 1Q 2019 whilst Zenith top up after their recent admission to the Merkur Market.
More woe for the oil price this week ahead of the Opec+ meeting at the weekend. Disappointment but not all over yet for Far in The Gambia, Infrastrata have a major gas trader on the hook and Gaffney Cline serve up good news for Empyrean.
Oil prices still under pressure but rallying a bit today ahead of the Opec+ meeting at the weekend where production cuts are on the agenda. Africa Oil Week continues and Plexus Holdings have results today.
Oil remains weak with Iran settling at around 1m b/d of exports. The Mid-term elections were inconclusive and the inventory stats unhelpful. Tower have got three blocks offshore Namibia and Zenith has received approval to trade on the Merkur market.
Oil prices remain weak as sanctions start today. Trinity start the process on Galeota with the first phase of the FDP and Sound are at 2nd casing point at TE-9. Reabold announce another investment, this time onshore UK and Columbus are set to leave La Lora to decommissioning fate in Spain.
Crude prices are still subdued as inventories build and production exceeds demand, for the time being. Savannah are close to the Seven Energy deal completing which has significantly enhanced their position in Nigeria. Talking of completing, Eco Atlantic has completed its farm-out to Total in Guyana and are now in a position of considerable strength. Frontera have confirmed that they are still talking to another industry major and Serica has received OGA approval for the Columbus FDP. Afren crooks locked up and also a link to this week’s podcast.
With less than a week to go until sanctions apply to Iranian oil it looks like the market is supplying enough, even for this quarter and all eyes should be on what will be a weaker start to next year. Another very positive RNS from President where the numbers are really coming through after highly successful drilling programmes this year. At Frontera the major oil company they are working with is Baker Hughes who should be a significant help as they develop Block 12 in Georgia. Finally, Faroe are increasing and extending their RBL to be ‘fully fit for purpose’ and be ready to repel boarders as they plan for continued growth although it does look like another addition to the defence document.