An AGM statement today from Genel where operations are clearly going very well: total net WI production is 37,600 bopd running slightly ahead of the expected increase in y/y production. Very little to add for Premier at today’s AGM, operationally all is going well, indeed with production of 80.1 kboed the company has seen fit to up its guidance to 75-80 kboed. Today’s update from Diversified Gas & Oil shows Q1 production of 69/- b/d in line with the year end and April production of 70/- b/d.
Today Malcy talks about the following stocks: Chariot Oil & Gas (CHAR), Jersey Oil & Gas (JOG), Amerisur Resources (AMER), Hurricane Energy (HUR), Block Energy (BLOE), Diversified Gas & Oil (DGOC), Gulf Keystone Petroleum (GKP) and Genel Energy (GENL).
Oil should end the week in positive territory again with WTI easing after the poor inventory stats and Brent rallying on the Libyan situation. Despite going through $70 the European marker just dipped back and is a few cents weaker this morning. Yesterday I interviewed Hurricane CEO Dr Robert Trice and the link is here this morning, also a few comments on last week’s action at DGO.
Oil will likely end up roughly all square on the week, down slightly today on poor Chinese economic data but better inventory data this week has helped a bit. DGO have posted a nice dividend which should please investors and Block Energy are doing well in Georgia.
Oil prices were quiet on Friday ahead of G20 but are sharply better this morning after US/Sino talks went well as did the Putin/MbS greeting. Reabold have completed the Rathlin Energy deal and are looking forward to an exciting few months with the drill bit whilst DGO has announced that results are to be ‘materially ahead’ of expectations that the market doesn’t have. Finally Lekoil is putting back its court date until January in the hope that it can then complete on OPL 310.
WTI $68.76 +68c, Brent $72.90 +74c, Diff -$4.14 +6c, NG $2.72 -2c Oil price Computers work fast and do not differentiate between news as proved yesterday when the EIA inventory stats came out. The initial build in crude stocks of…
This week Malcy talks about the following stocks: Sound Energy #SOU, Echo Energy #ECHO, Victoria Oil & Gas #VOG, Faroe Petroleum #FPM, Diversified Gas & Oil #DGOC, Rockrose Energy #RRE
Malcy talks about the following stocks: SDX Energy #SDX, Cabot Energy #CAB, President Energy #PPC, Diversifiend Gas & Oil #DGOC, Echo Energy #ECHO, Petro Matad #MATD, Reabold Resources #RBD and Block Oil #BLOE
Malcy talks about the following stocks: Chariot Oil & Gas #CHAR, SDX Energy #SDX, Jersey Oil & Gas #JOG, Echo Energy #ECHO, Diversified Gas & Oil #DGOC and Range Resources #RRL
WTI $68.10 -9c, Brent $74.64 -10c, Diff -$6.54 -1c, NG $2.77 -7c Oil price Last week was actually relatively flat, oil consolidated at the higher levels as the market took on board the likelihood of US sanctions on I Ran…