Oil was down last week after the worries over Jerome Powell's comments on the Hill but the aggression on rates has dissipated somewhat after the concerns over SVB and other banks. Today Arrow have delivered yet another successful well which was drilled quicky, cheaply and efficiently.
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 has picked up sharply today with markets worrying about the Opec+ meeting on Sunday. JOG get an extension at Verbier to match the GBA whilst Sound restructure the Phase 1 Micro LNG. Eco has results which are history and Arrow has its best ever quarter. Finally Zephyr publishes a new presentation, worh a glance.
Oil had a big bounce yesterday in thin volume and was also up on the week as well. The usual reasons are plain to see, Wall Street shed over 1,000 points after the hawkish comments by the Fed Chief Jerome Powell. Today results from Arrow follow good CPR news last week and Longboat spuds Copernicus. Finally Predator CEO Paul Griffiths issues a press release on Irish energy polocy.
Oil had a big day on the back of the KSA interview about Opec, elsewhere Arrow has had a very good few months in London and Coro try again to sell the Italian assets, now worth much more than when they fell through before. But most of all interest is that Rockhopper has won its arbitration case with the Republic of italy and been awarded €190m plus interest...
Another rally from oil after the comments about Opec+ production crept into the market. At Union Jack the capital reduction update paves the way for a dividend. Predator have FY 2021 figures and Angus are very close to first gas at Saltfleetby. I speak to Marshall Abbott, CEO of Arrow Energy Corp which is highly illuminating and Trinity starts a six well drilling programme and SDX spud MSD-23.