Oil was shut yesterday but has rallied today as the movers and shakers head for the Alps. Genel gave a solid and in line trading update and Union Jack and Egdon have updated Wressle. With UOG resurrecting the Quattro deal but at a higher price they can reward patient shareholders with a modest buy back.
The 2023 Bucket List is published today, five companies are leaving one way or another and three are joining the group. The Oil and Gas prices both showed consistency in being virtually unchanged on the year although the prices changed at different times during it, see the charts. The blog also announces how the 2022 list fared.
Oil rallies on the Keystone pipeline leak. Genel are disappointed at Sarta and Longboat assess the year. Predator prepare for drilling in Morocco and I look at Sound and Chariot from yesterday.
Genel update on receipts from the KRG, San Leon update on Nigeria whilst the Spanish Archer arrives at SDX. I also note yesterday's RNS from Rockhopper.
Another good day for oil, a weak dollar initially helped but after the Fed's comments about the economy it firmed a bit. Also Opec+ are still producing some 1.3m less than quotas which won't get easier. An update from Genel shows an acquisition fund of $500m+ by the year end and PetroTal announce that the 13H well is producing at around 8,000 b/d. Longboat announced that Oswig disappointed but did find a condensate discovery to analyse more of later. Harbour made its guidance and is bringing debt down and Sound cant get the Moroccan Tax Authorities persistence.
Oil was very quiet yesterday unchanged on the day. Ithaca is returning to the London market and Genel and GKP announce KRG payments whilst Trinity complete the buy-back programme. Finally I get to meet with the management of Southern Energy Corp and have issued an initiation Target Price of 150p.
Oil fell yesterday but is up ahead of the Opec meeting. Genel announce its new CEO and I catch up on things I didnt get in on Friday such as Coro, Hurricane and Reabold
Oil fell on China Covid panics and with Opec+ on Monday, when markets are shut for Labor Day might move markets somewhat. Reuters says that Shell Chief BvB is to leave at the end of this year which is certainly possible. Genel have announced KRG payments and Angus have two very interesting Director appointments.
In a flash blog today I take a brief look at DEC, Genel, Zephyr, Touchstone and Petrofac.
Flash blog on Genel results, IGas update, the Tower raise and Jadestone buy-back.