The 2023 Bucket List is published today, five companies are leaving one way or another and three are joining the group. The Oil and Gas prices both showed consistency in being virtually unchanged on the year although the prices changed at different times during it, see the charts. The blog also announces how the 2022 list fared.
Oil rallied strongly as despite the inventory stats I mentioned yesterday oil jumped on economic news and potential further sanctions against Russia. Today Wentworth updates on the takeover by M&P and Afentra update on Angola. Pharos has an extensive reading and operations update and UOG have some encouraging numbers on Maria.
Oil rallies again ahead of the Fed rate decision and the dollar weakens. Today Savannah has said that its SPA with Petronas in Chad/Cameroon has hit the buffers and Afentra have a slight delay in Angola. Meanwhile IGas has had a bad time, the fraccing decision has cost it a deal and they are still allegedly looking for a new CEO, the shares are down 86% since the last one was dispensed with...
IOG announce board and management changes and Afentra have extended the long stop date 'as a prudent measure' which is most sensible.
Oil rallied as Hurricane Ian headed towards the Gulf of Mexico, it's now veered towards Florida. Today i look at DEC with a deal completion and yesterdays buy-back news and Reabold have madea small acquisition. Getech have results and now need to deliver, and i3 add to yesterday's announcement to say that Graham Heath is leaving. Yesterday was a nightmare with so many results and calls/meetings that they are in today's blog.
Oil continues to drift, even after today's better than expected US CPI numbers markets rallied but not the oil price. Maybe as it's the monthly reporting time that is responsible but I'm convinced that underlying the bulls will out. Last night both Serica and Kistos walked away from hostile activity and will remain independent. Today sees the return of Afentra to the market following suspension after the Excellent deals in Angola and it looks to be very positive indeed and are seriously going places. Finally I caught up with Gran Tierra after figures on Monday.
Oil rallied after the dollar weakened as expectations of a 100bp rise in US rates next week were trimmed. Challenger update on Trinidad and Angus yesterday also updated on Saltfleetby. Predator have a detailed run through but it is Morocco that is of most interest in the next few months. Afentra look to have done a very smart deal topping up in Angola and Tenaz are having to rethink the SDX acquisition.
Not much going on on the oil front but gas is all over the place. An update and results from JOG who are in very good shape at the GBA. Figures and an update from PetroTal which is also in very good shape right now. Afentra reveal that they have bought interests with Sonangol which looks a cracker to me. Finally Hurricane report and looks cheap as chips. And Empyrean regrettably found out that jade was dry.
Oil was down last week and is now off another 3 bucks today. Ineos boss Sir Jim Ratcliffe make a very good case for fraccing in the Sunday Telegraph. DEC have published their sustainability report and Genel detail KRG sales and payments. Angus have done a small raise today, wise given the bidding timetable has overrun a bit. Afentra updates on Sonangol and Coro has signed up on a new deal in Vietnam. Longboat have spudded Cambozola it's one of the biggest gas prospects around. Lamprell, I just don't know what is going on, it seems like good progress in wind but oil & gas going well is up for sale. UOG has confirmed its sale in Italy to Prospex and is now well financed but needs to spend the money.
Oil rallied yesterday, partly due to reasons expressed here but also due to an unexpected outage in Libya. Jadestone has interims today and whilst have had some operational and political problems I'm confident that they will deliver the goods. Coro is under new management with deals changing its nature. Afentra's future is in front of it as they say but I'm confident Paul McDade is in a strong position.