Oil is quiet ahead of the Opec meeting which has just started. PetroTal has a huge increase in year end reserves and Zephyr pay the first stage of the shares for the recent acquisition. Arrow issue a very upbeat update, they have10 wells and seismic on the way this spring and Savannah have a high quality NED.
Oil is quiet as managers trim positions ahead of the break. Today sees another upbeat operations update from Arrow Exploration and San Leon repeat the Decklar news. I note the Wentworth comment and cover the interesting news from COPL on Wednesday.
Oil drifted on the last day of what has been a very good month and traders locked in profits. An update from Arrow was excellent and in line with guidance and San Leon have slightly extended the backstop date for the OML18 financing and Challenger update the market on a wet quarter. Finally Jadestone complete the acquisition from BP and COPL also update the market..
Oil is falling on the demand crisis with agencies cutting numbers but it makes sense to do what Opec+ did. A good Q3 update from PetroTal and whilst production was down a bit the outlook is very positive. Arrow continue to deliver the goods and will get better. Scirocco report good news from its EAG investment and Block slightly disappoints. Yesterday Angus upped the game some more with further good flow rates and looks set fair to me.
Oil remains firm after the 2m barrels taken from quotas at yesterday's meeting. I note an erratum in yesterday's blog in my piece about Arrow Exploration and Reabold complete their deal with Shell.
Oil awaits the results of the Opec Meeting, is it maybe 1.8m b/d? A quick word on Victoria Oil & Gas and also I talk about an interview I did with Arrow Exploration Marshall Abbott. Finally I commend the Wentworth Africa Foundation.
Half year numbers from UJO and how good they are, they get many box ticks from me. Results also from Sound which show very positive progress and Kistos who are continuing to perform in such a short time. Chariot has signed a Pipeline Tie-In Agreement with ONHYM.
Oil rose on Friday but WTI was down on the week, Brent unchanged. Nothing different at the moment, Libya is back down to 100/- odd b/d if that. Today Genel announce KRG payments and Savannah start gas sales to Axxela and Touchstone updates the market on COHO and Cascadura. Arrow have another success in Colombia and Eco Atlantic have raised money in Africa to top up their stake in 3/B and 4/B. Challenger note a scoop on Friday re Uruguay and results from Petro Matad show a positive situation after a terrible year or two.
With US markets closed due to Memorial Day today is pretty irrelevant, last week oil was pretty good as a supply shortage, particularly in products pushed oil up sharply. Today DEC announce a good piece of securitisation work giving scope for future deals, Egdon and Union Jack celebrate FDP approval at Wressle, Rockhopper results, Arrow bring on RCE-2, Echo update from Argentina and UOG may have a duster in Egypt, more testing needed. And Savannah announced late on Friday a renewable deal in Chad.
Oil is up today after a down day yesterday, Arrow has reported a great well in Colombia and SDX spud another well at Meseda.