Oil price, Petrofac, Lamprell, Touchstone

Oil had a good day as the IEA came out with positive data, it was up this morning after a rise in equities but both are running out of steam at the moment. Petrofac reports a good deal of strength but inevitable shifting to the right of some of its E&C orders. Lamprell is a bit hit and miss, poor results as expected but I believe scope for upward growth this year and next. Finally Touchstone reported, most importantly it is hoping to drill the Chinook prospect in July of this year.

2020-05-15T12:19:36+01:0015 May 2020|Categories: Daily Blog|Tags: , , |2 Comments

Oil price, Angus, Coro, Trinity, Lamprell

Oil, or more specifically WTI is weak, down another 25% today ahead of rollover to the June contract as even at Cushing the storage tanks are almost full. Angus Energy issues a note today, good under the current circumstances, better when you are writing Riverfort out of your balance sheet. Coro's results were no surprise, recent changes mean that it may be a while before it expands much but Duyung is still a fantastic asset. Trinity continues to cut costs, after this latest bout operating break-even should fall to $20.50/b and Lamprell who announced last week are retrenching into the Hamriyah yard.

2020-04-20T13:01:03+01:0020 April 2020|Categories: Daily Blog|Tags: , , , |0 Comments

Oil price, Trinity, Echo, Far, President, Touchstone, Lamprell – And finally…

Oil has rallied for a number of reasons but Libya is getting pretty lively. Trinity have, as usual a very positive update across the board while Echo also seems to be becoming interesting at the Santa Cruz Sur. Far has gone ahead with its FID for Senegal and is now sorting out the financing which seems nearly all done. President has tapped Trafigura who are injecting money into this well run company and Lamprell confirms the two jackup orders. Finally Touchstone testing an oil play now have a 'liquids rich' structure.

Oil price, Genel, Lamprell – And finally…

Oil is unchanged after a flurry of reports and an unforgiving inventory report which whilst showing a decent crude draw also saw products rising. Today Genel updated the market, the company looks in a very strong position enjoying the delivery of projects funded by recent strong Free Cash Flow and yet being able to guaranty more capex and higher dividends. And Lamprell also updated the market in a slightly less inspiring manner...

2020-01-16T13:10:34+00:0016 January 2020|Categories: Daily Blog|Tags: , |0 Comments

Oil price, Rose, President, IGas, Faroe, Petro Matad, Lamprell And finally…

An up day for oil as speculators suspected some production falling ahead of the Opec+ meeting next week. Rose Petroleum do a canny deal with Encore and their database keeping exposure, enjoying Vanadium and chance to get stuck into the Paradox Basin. President spud well three in Puesto Flores and IGas spud Tinker Lane, at long last. Faroe start their defence campaign and i comment on a dry hole for Petro Matad and a good move from Lamprell.

VOX Markets podcast: Malcy on Range Resources, Columbus Energy Resources, Touchstone Exploration, Trinity Exploration, Rockrose Energy and Lamprell

Malcy talks about the following stocks: Range Resources #RRL, Columbus Energy Resources #CERP, Touchstone Exploration #TXP, Trinity Exploration #TRIN, Rockrose Energy #RRE and Lamprell #LAM