After the Opec+ meeting didnt change output oil is on the move this morning, Brent well over $80 and WTI over $72. Today I look at results from Trinity E&P and its exciting, debt free future and also President who have spudded the first of three wells on Puesto Flores. Tullow only found water bearing sandstones but the prognosis for the basin is still very optimistic.
As Opec+ prepares for the Algeria summit oil is perky today and likely to be up on the week. I discuss the Savannah Petroleum deal adding to the Seven assets and notice that SDX may be looking at the huge BP portfolio in Egypt. Soco are also buying in Egypt but more modestly and I look at RockRose after their figures. Reabold have two pieces of news, especially going well in California, Petro Matad has a duster in Mongolia and Providence unveils more Barryroe wells.
Oil prices firm up ahead of the Opec+ meeting next Sunday, today’s EIA inventory stats will be important after a mixed bag from the API. I look at results from Rockhopper and comment on Sea Lion as well as further comment from Frontera. Catching up from yesterday I look at the UOG fund raise and news from i3 regarding their partner problem.
A quiet start to the week with oil up around 40+ cents today after last weeks gains. I look at Frontera who have problems with Yorkville but operationally looking pretty good. Also Reabold and Upland are now shortly able to spud the Wick well and Soco adds a new RBL plus an accordion.
Time to take a look at the crude market after agency reporting week and meetings between China and Russia and Rick Perry getting involved in the process. I look at IOG who have completed their latest funding and are planning the Harvey appraisal well. I’ve heard news of a new investment opportunity which may be quite hot… And its a monumentally big weekend for sports fans…
Another rise in the oil price, mainly on the inventory stats, Hurricane are moving inexorably towards first oil and Amerisur have a very good set of results. With Sound progressing in Morocco the autumn drilling is looking exciting and talking of exciting Total smash into Eco’s acreage in Guyana. and I take a look at the changes at Ophir where Alan Booth says that he is ‘no nightwatchman’.
Another up day for oil with the bulls in charge, for the moment…Plenty of news with President making more moves in Argentina, Echo and IGas results and Chariot looking forward to spinning the drill bit in Namibia. Plenty of press comment in Niger about potential farm-outs for Savannah Petroleum and the Genel CFO reveals more good news at the Pareto conference.
Oil perks up after an indifferent week whilst Savannah announce the spud of their 5th well in Niger. Columbus receive an extension for their Cory Moruga Block and Getech announce a delay in Sierra Leone. I talked to Tom Kelly and Gas Bisht of Empyrean with excitement at fever pitch in China and much potential to come in Indonesia.
After a busy week I take a look at a mixed time for the oil price after the Labor Day weekend. Amerisur is going well with production improving and a big well spudded and drilling on. Echo Energy starts the exciting process of seismic at Tapi Aike ahead of next years drilling programme which the CPR recommends highly… I interviewed Peter Levine, Chairman of President Energy this week and also chatted to James Menzies of Coro Energy. Finally after a successful raise this week I talk to Stephen Williams co-CEO of Reabold Resources.
Labor Day in the US when the driving season finishes but demand for products remains high. I look at Coro Energy’s first deal in Indonesia which looks a very good start in the region and Hurricane announce a farm-out Greater Warwick area licences to Spirit Energy.