Oil fell then rose on a day when all sorts of influences were exerted on the market. Union Jack have another $15m of revenue at Wressle and Afentra complete the Angola deal. And Harbour seem to be a bit more chipper.
Oil drifted on bank worries ahead of the inventory stats. I have an interview with Andrew Austin, Chairman of Kistos in today and Challenger talk about Uruguay. Finally Harbour strike off Mexico.
Slightly more drift in oil as a follow up to Jay P's fit of the vapours but the inventory stats were better than expected, an actual draw in crude of 1.694 barrels when the spotty kids were expecting a build. PetroTal updated the market, after a dip, production will rise, debts are to be paid off and a return to shareholders is imminent. Eco Atlantic have been reading Africa Oil's homework but the CPR is very exciting-for both of them. GKP are revealing numbers from the KRG which include the new price formula and Harbour have reported results but are very angry indeed with the UK Government over the Looney Tax.
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 fell on the Fed confirming a 75bp rise with Swiss and UK central banks today and the ECB being what only they can be...Lots of company news today, PetroTal have a good sales update, Zephyr are investing better than expected cash flow, Rockhopper raise went very well, Harbour are buying back $200m, Longboat update in full detail, Hurricane monthly shows more cash build up and President have a bare bones update.
A flash blog with information on Zephyr Energy who update on Q1 production, i3 who announce a whopping 25% increase in the divvi and an AGM statement from Harbour.
Oil started flat but has gained 5 bucks this morning so far. As we plough into results season where we learn almost nothing today sees announcements from IOG, Serica where production is back, Orcadian with debut numbers, Harbour also reporting SDX bringing on a well, Hurricane with its monthly report, Prospex upping power in Spain and Zenith raising money just about sums it up...
Oil will end up on the week after the inventory stats and economic recoveries kept demand strong. Eco Atlantic had results and an update, for the them it is the Sapote 1 well, due to spud in August which will potentially reward them most highly. Finally Phil Kirk at Harbour has bought some more shares in the company.
Oil rallied yesterday and is better again today. Union Jack and Reabold have little say about west Newton, just yet and Pharos looks better in Vietnam. Wentworth have a new NED and Harbour have two profit warnings today on run of the mill operational matters.
Oil continues to behave well and yesterday Brent was over $75 for the first time for two years or more. Today we see a bit more from Harbour, it has a good portfolio and it might just be that Sea Lion gives them mid decade growth into the bargain.