The oil price has stayed at the overnight price which looks good, today sees a dry hole from Petro Matad but progress being made at Heron. Block Energy has announced a new CFO joining the board and I catch up on a recent meeting with CEO Paul Haywood.
A cracking discovery from Hurricane this morning as the Lincoln Crystal well comes in strongly. Amerisur have interim results which show strong production and the resulting cash flow puts them in a strong position as the vultures gather in Bogotá. Coro also has interims but the progress in Asia is still looking most exciting with drilling imminent at the Mako field. DGO announce a proposed move to the premium segment of the Main Market with all the governance etc that brings and IGas also have good figures but the market is focusing on Spings Rosd.
Solo move on with the new strategy by cutting key deals with support service companies, what could be next? IOG announce results from Harvey which has found a modest but likely commercial gas column.
Good news from Genel this morning as Chevron gets underway with the CPF at the Sarta field ahead of start-up next year. Columbus and Predator announce that work on the CO2 project has moved on successfully and EOR operations are significantly advanced.
Rose has updated on management changes whilst Echo is making proper progress in Tapi Aike. Finally Range Resources has shot the lights out by selling their Trinidad assets to LandOcean for around $95m.
On the move today will cover more later, in the meantime DGO confirms that the EdgeMarc Energy deal has been approved adding a modest but valuable portfolio to the company. Reabold and Union Jack have announced that testing at West Newton has resulted in what represents a potentially significant oil and gas discovery. This should be transformational for both companies. Finally PetroTal has 2Q figs but subsequent events are pushing the company fast forward with much more to come.
Excellent progress by PetroTal this morning with the latest well converted to an oil producer at above pre-drill estimates. Also good news for patient Bahamas shareholders as it looks like, subject to funding of course that a well could be drilled in 1H 2020.
An excellent set of interims from DGO with increased production and a continued vice like grip on costs. Genel announce the continuation of its accretive buy-back programme.
Excellent 1H figures from Genel, s thong cash flow and continued returns to shareholders.
Tagged with: Genel Energy
Flash blog today as Rockhopper announces submission of the PIM for Sea Lion. For those of us who have watched the process develop over many years it has now become worth the while as the project builds up a head of steam.