Oil rallies in stock data and waits for the FOMC. Good progress from JOG at the GBA, IGas gets on with geothermal and hydrogen and Longboat at last have wells to talk about. Advance looks to be in a very strong position at Buffalo and President have an operating update.
Oil recovered last week's fall and was picked up on Mexican production loss and of course Hurricane Ida. Today I look at JOG on electrification, UJO and Reabold with exciting news from West Newton and Sound who have completed the Schlumberger deal. Also Hurricane announce an offer for the bonds, Lamprell update on recapitalisation and Eco Atlantic spud the Sapote-1 well and Zenith sign an agreement in Nigeria.
Oil remains strong as the Opec+ meeting gave promising indications for the market place. JOG have updated on operations at the GBA development project which looks to be an enormously low carbon project. Trinity have had licence extensions and UOG update on Abu Sennan.
Oil remains in reasonably good nick with the inventory stats showing a decent enough draw this week. Results from JOG are in line ahead of the real excitement expected from the GBA, the big prize for Jersey going forward whilst Genel remain full of confidence in its financial strength. Predator has announced that drilling in Morocco is imminent and BPC have also got their wells in Trinidad starting soon. Also results from Echo Energy.
Oil has had a good couple of days as we end the month and mainly on the US economic data which showed GDP of 6.4% and another fall in jobless numbers. DGO has made a most interesting acquisition away from Appalachia down in Louisiana and Jadestone has also had the cheque book out in Malaysia. President has had another great well result and remains rightly confident whilst Hurricane has crash landed with the bond holders pushing the equity players out of the plane.
Oil is still in the doldrums, trading in a narrow range whilst the vaccine rolls out but Covid is still rampant in some areas of the world. JOG has made an inspired call in their new NED, Les Thomas former CEO of Ithaca Energy with his detailed knowledge of the North Sea. And Coro have given an updated operational update following the recent acquisition of the Global Energy Partnership.
Oil is quiet, the IMF brought out upbeat GDP figures which seem to support the Opec+ view on the 2nd half economic growth and the API showed crude inventories drawing by 2.6m barrels. PetroTal have had an upbeat statement and JOG has completed the last of the GBA asset deals. IGas have performed well in the conventional assets and Pharos have got a lot of good news to look forward to.
Oil is dithering as the EU try and stop the Astra vaccine and in the US we wait for the verdict of the Fed meeting. JOG has announced a fundraising as they move to the farm-out and FEED parts of the GBA. I interview Edward Dawson, CEO of Prospex Energy.
Oil drifted ahead of tomorrow's Opec + meeting but has rallied today after more positive news from the pre-meeting. JOG announce an exciting concept select update with fantastic numbers ahead of the farm-out, due imminently. Reabold has sold part of its Corallian convertible for £500,000.
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.