Oil remains flat as one might expect on Labor Day, traditionally the end of the summer driving season. I look at Genel with its latest payments from the KRG as well as newly licensed Challenger. Years of patient waiting for Falcon in Australia appears to have brought success at Beetaloo and a guidance warning from UOG as they find too much water at ASH. Finally Advance are nearly ready for Buffalo-10 and Serica are making out like bandits as the Rhum well comes in very well indeed.
A flash blog today as I'm away for a couple of days. Wentworth Resources A record set of interims from WEN this morning due to growing demand and ‘increasingly stronger ...
Oil rose sharply with the usual determinants on show yesterday although I'm looking to the natural gas price at the moment, around 4 bucks at Henry Hub but of course it's the UK price that has thrilled as Russia starves the European market. Challenger has laid out its plans for Saffron and Scirocco has completed EAG which looks exciting.
Oil was flat last week in the end, but is down today on further bad Chinese economic data. Challenger updates on conclusion of the legal case, an update on findings post the P-1 well, discussions with the Government on licence extensions and a farm-out process. UOG has spudded its latest exploration well in Egypt and Longboat update saying that with approval from the Norwegian Energy Ministry they expect to complete the farm-in on 1st September this year. Finally today sees the Service of Thanksgiving for Bruce Dingwall. RIP
Oil remains strong after a good set of API stats, today will show whether last week's EIA numbers were abnormal. More news from Zephyr and Challenger update. Predator update across the board and have a board change while UOG are selling out of the UK North Sea. Finally Hurricane update on the Aoka Mizu, meanwhile gossips are talking about another corporate raider for the Godalming based explorer.
Oil is flat, little to say after EIA report was bullish and bearish...Challenger update on Saffron-2 which is in line with expectations and hopefully producing soon whilst Pharos update on Vietnam and a quiet period in Egypt. Finally Hurricane have a monthly update.
Opec + is now not going to meet today and in the absence of any further meetings in the diary we are in fall-back mode which if my synopsis is correct does not allow for an increase in production. Diversified keeps doing deals and they keep getting better, now Oaktree are on board as well. Challenger announce that Saffron-2 is at TD and now ready for logging and production on July 23rd whilst Eco have had a dry hole on Jabillo-1. Finally more shenanigans at Block where there now has been a request for a General Meeting to try and remove the Chairman.
Oil is quiet ahead of the period end, Opec+ and Independence Day. Challenger update on trading and corporate while Genel announce receipts from KRI oil sales. San Leon cover everything in their finals and Hunting update on trading. Lamprell seem ok then announce they are short of dosh while SDX cover Morocco and Egypt. GKP also announce KRG payments.
Oil was a little better after a good set of EIA stats but has drifted a bit today. Zephyr are powering away at the 16-2LN-CC well with latest permissions, Challenger reports again from Saffron and San Leon ups the investment in OML 18 infrastructure. Block has spudded the WR-B1 well in Georgia and yesterday Hurricane said that the judgement has been reserved.
A flash blog today as I am away from my desk, oil fell yesterday as the dollar rose on inflation concerns. Challenger has updated on Saffron-2 which looks very exciting and VOG has announced details of a financing with Meridian Capital, again more later.