Oil has drifted back to the lower end of its current trading range, but now with the Opec+ meeting wrapped up there is no reason to think it will fall much further. IOG report on their Elgood development well and whilst it had some difficulties it has done the job and now moves on to Blythe. Union Jack and Egdon have good news from Biscathorpe and UOG report from Abu Sennan. Finally Trinity have unveiled changes to the Galeota Block and its development.
With the month, quarter and interim ending tonight and the Opec+ meeting tomorrow books are flat ahead of the US Independence holiday weekend. Last night the API said that crude drew 8.2m barrels. VOG update on trading, Union Jack and Egdon announce a short delay at Wressle and Egdon has raise money this morning. Zephyr share their thoughts on Paradox, its bigger than you think...Hurricane heeded the High Court and the NED's have all resigned, the shares rose 25% on the back of that and Crystal Amber are vindicated. Positive news from Advance and Getech make up the pack...
Oil is better again today after OK API stats after the close and a rally at the death last night. Genel announces KRG payments, Challenger spud at Saffron-2, UJO/Egdon and Europa have permitting at Wressle. President update from Argentina and Paraguay and I interview David Minchin, CEO of Helium One Global.
Oil is in good nick, Brent was over $70 late this morning. UK jobs data and word from the US are pointing to oil stocks to decline 2H this year and after last week retail gasoline prices have risen. Positive news from the Wressle partners today makes that look very good indeed whilst prelims from Trinity were good but show that the company is in a 'pretty good state' and 'delivering for growth.
Oil is better today but weakened yesterday on the Indian virus numbers which were slightly down today. The Opec+ JMMC meeting is today, one day early and the JTC was yesterday and more positive on demand and stock draw. Union Jack have announced a shiny new website which does look very grown-up. Reabold have made a conditional offer to acquire Corallian shares and Egdon have provided interims to end January.
Oil celebrated a huge month by starting off March where it left off after a strong February. Union Jack and Egdon announce the submission of a Planning Application at Biscathorpe where I am confident it will beat earlier expectations. PetroTal has a new presentation which catches up on 2021 spend and 2020 reserves update.
After all the Hullabaloo oil was even last week, today however it has tipped upwards again. I look at Chariot who have signed a collaboration Agreement with Subsea Integration Alliance for Anchois. Angus Energy are positive after news that their loan has seen substantial subscription. President update on 2020 and give guidance for 2021 whilst Echo publish their bond restructuring details.
The oil market is quite placid at the moment, New York is hunkering down for the big storm on the way. San Leon is back on track with the Nigerian funding and the Wressle partners have announced free lowing oil. Jadestone updates on 2020 as does UOG with guidance as well.
WTI $52.24 +$1.41, Brent $55.99 +$1.61, Diff -$3.75 +20c, NG $2.70 -3c Oil price Last week was a good one for oil, the fact that the KSA had warned speculators ...
A good week for oil has quietened down, may due to todays Thanksgiving Holiday. Today JOG announce the acquisition of the final piece of the GBA jigsaw, Genel have first oil from Sarta and President have another discovery in Argentina. Egdon announce a small delay to Wressle but first oil should be in January and they have borrowed £1m from Union Jack who also announce some directors buying.