Oil was up on the week but faded late in the day after the US CPI came out which trashed markets but rallied the dollar ahead of the Fed meeting tomorrow. Wentworth has announced the proposed acquisition of 25% of Ruvuma from Scirocco both are covered here. DEC confirm that juicy dividend in pence today and Orcadian announce draft FDP and farm-out process for the Pilot development.
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 was mixed last week, Friday almost made it even with WTI up 72 cents and Brent down 84c. Today another upbeat presentation from DEC was accompanied by another 6% increase in the dividend. Also a bullish update from Union Jack showed just how cheap the shares are.
Oil down, China crisis. An acquisition from DEC which looks like more of the same, ie very good. Chariot have appointed Societe Generale, London Branch to the role of financial advisor to develop debt funding options for the Anchois gas development, this is smart and good news. Egdon results but Shell walk away from their partnership with the company and Union Jack add the the Wressle good news to the update on the rest of their portfolio.
A Flash blog today covering IOG bringing production back on at Blythe, DEC updating on its kit for reducing methane emissions and Union Jack and Egdon confirming that it has lodged the Biscathorpe appeal. Also for Empyrean it is an exciting few days as the Jade well keeps drilling ahead.
Oil was down last week and is now off another 3 bucks today. Ineos boss Sir Jim Ratcliffe make a very good case for fraccing in the Sunday Telegraph. DEC have published their sustainability report and Genel detail KRG sales and payments. Angus have done a small raise today, wise given the bidding timetable has overrun a bit. Afentra updates on Sonangol and Coro has signed up on a new deal in Vietnam. Longboat have spudded Cambozola it's one of the biggest gas prospects around. Lamprell, I just don't know what is going on, it seems like good progress in wind but oil & gas going well is up for sale. UOG has confirmed its sale in Italy to Prospex and is now well financed but needs to spend the money.
Oil all over the place today, even more than usual. Results from DEC are excellent with much to look forward to, Longboat also have finals in their early stages while SDX has another good result but uncertainty about its owners...
DEC has closed another abs and is now set for further growth, rule nothing out. Eco has announced a gain from an investment sale but shareholders will be more excited by exploration especially after Total's recent big discovery in the Orange Basin. i3 Energy and Block both update the market.
Oil fell yesterday mainly on worries that the US would cave to Iran in the nuclear talks to try and get the gasoline price down. Today DEC have a trading update which is very positive.
Oil was firm last week and now is seemingly waiting on The Ukraine. More good news from DEC who have closed a securitised financing and Zephyr who announce 4Q production from the Williston. Lamprell update the market as do President, Prospex have has announced a placing to buy more of the Selva field in Italy.