Oil was down again last week on economic news but is about 75 cents up today. Wentworth are in a dilemma as TPDC are still trying to interrupt the M&P bid whilst PetroTal is coming out of the seasonally tricky dry season. With Beacon having a great uplift in reserves and Jadestone update as well.
Oil is quiet today after a good week as the quarter ends. Today I look at Savannah with results as do Zephyr, Scirocco, SDX, Beacon and Tower. IOG have taken the plc into administration and I look at Prax after the first payment to DCU holders.
Oil pauses after a 50% run up, at the WPC in Calgary Abdul Aziz lays out the 3 P plan. Zephyr note market rumours that the Dominion gas pipeline is nearly operational and be ready for their gas in due course. Union Jack announces a 3.1% stake in Beacon and hopes to work with them in Germany whilst Longboat find uncommercial gas at Velocette but there may be more to this story.
Oil remains strong and I talk about Beacon Energy and a good raise.
Oil was up on the week again and is holding $90 for Brent at the moment. Today UJO post good results and Arrow have a sparkling reserves report. Europa are progressing at Cloughton and Beacon, despite operational issues look like they have a big find on their hands.
Oil rallied yesterday as the dollar fell and Chinese leaders pledged 'strong support' for the economy. Today Southern Energy has showed its versatility by slowing organic growth and adding inorganic pressure from acquisitions like the Gwinville deal. Beacon at long last announce that the SCHB-2(2) well has been a success and better than pre-drill estimates with flow rates yet to come.
Oil rose for the 6th week in a row as the Opec meeting ended as expected with production cuts. Today Beacon say the German well is expected in the coming days and Trinity have found what looks like a lot of oil at Jacobin. Egdon confirm the deal at Weaverthorpe and Reabold update on the LNEnergy deal. Finally Prospex ramp-up at PM-1 with gas flowing.
Oil remains on a run ahead of Friday's Opec meeting where I expect both Russia and the KSA to maintain their production cuts. Today IOG say that the Bondholders are helping with their support and hope to tie something up soon. Touchstone are just a few checks away from gas at Cascadura and Beacon are drilling a sidetrack at SCHB-2 after the fishing expedition wasn't entirely successful. Jadestone has run into more trouble at Montara where another leak has been discovered.
Oil is down today on Chinese data, DEC have made a wise and accretive sale of a package of assets and Beacon have had a slight operational setback in Germany. Longboat close their JAPEX. deal and Petrofac win a uesful contract in the Ivory Coast.
Oil fell along with with most markets after the private sector jobs data was massively higher than expected yesterday with the NFP today. It recovered after the EIA data was very solid especially for products. Today I look at Beacon who are drilling their first well in Germany with results due in a week or so.