Oil was up a bit on the week and a little higher today. Chevron have released 2Q results a few days early, beating the whisper and also pointing out that they could pay all the divvis and the capex at prices well below $50 oil. AND, they paid out $7.2bn last quarter. On Friday Angus updated the market on debt and hedging as well as production data.
Oil fell yesterday on the Moodys downgraded its China views. Today I look at the UOG update as well as the Angus news from last Friday. I also note that Gulfsands has stepped up Project Hope with a video from Syria.
A modest fall yesterday as markets worried about US inflation data due tomorrow but in China the Government extended the loans to the property sector in a bid to perk up the economy. US retail gasoline was inconsequential, up a tick last week, down 4 cents m/m but still over a dollar off this time last year. Chariot has raised money as it gains a fascinating block near Anchois and Predator have now moved to rigless testing now MOU-4 reaches TD. Eco Atlantic has also raised money, about $10m but with no dilution as it prepares for action on Block3B/4B in South Africa. And Angus updates on its bridge facility.
Oil is down today after a small bounce while markets adjusted for 4th July. Today I look at Touchstone which has good news on the way from Cascadura and I PetroTal announce record production in Q2. Hunting have also blown the lights out with numbers looking materially ahead of expectations and Petro Matad have finally received approval for block XX. Finally Prospex should be congratulated for first gas at the Selva field.
Oil mixed but better today, Challenger complete the award of the AREA OFF-3 licence, offshore Uruguay, Angus update on production and Longboat acquire some production. Petrofac win another big contract, i the home territory of the UAE.
Oil fell ahead of the Fed meeting which announces rates tomorrow. Today Sound have a sparkling update, Pharos have blocks 125/6 extended by two years which is excellent. IOG also update and news there is good as well. Touchstone have won their preferred block in the Trinidad licence round as have Trinity. Angus have shown flexibility at Saltfleetby and Predator have updated with a difficult but what looks like an ultimately successful MOU3. I update on SDX and Reabold from yesterday on a policy I can't understand.
Oil fell today as uncertainty rips through Washington about the debt ceiling. Today excellent news from Arrow and Kistos with results and Southern had good quarterlies. Hunting made a really good contract and upped guidance and Angus goes from strength to strength at Saltfleetby. Longboat announce a rig fora. well in 3Q 2024...Empyrean raise and update, Prospex is delayed in Italy because of the bad weather. Reabold and RKH have figures and IGas are in for a hospital contract. PetroTal move towards its social contract.
Oil was down just over a dollar last week with the short term influences winning over the long term. The election in Turkey is delaying the decision to re-open the Iraqi pipeline. Today IOG has much better news from the Blythe field, UJO has excellent results and Angus step up production at Saltfleetby.
Oil is weak today ahead of the Fed tomorrow. IOG talk the Blythe well, Zephyr announce good hedges and Chariot tie up with Vivo in Morocco. Arrow are in great shape and will hit targets while Longboat have JVd with Japex in Norway. SDX are partnering with Aleph on alternative energy projects, PetroTal appoint a COO and Angus update on Saltfleetby.
Oil drifted as the greenback rose, Chinese data though is picking up...Today IOG have some operational problems, nothing that hasnt been seen before though. Southern Energy release full year results, nothing to add to recent updates but holding back some production until prices rise again. Angus gave a brief update but all appears well at Saltfleetby whilst Afentra are looking good in Angola with things on the move there. Finally Hurricane updated, Prax still waiting there and UOG confirmed yesterday about extending their own long-stop date.