Oil is drifting and was around even on the week. Zephyr Energy has announced a raise of £2.25m which is more than enough to cover their costs of the dual use well in the Paradox Basin. I link to a Podcast with Total Market Solutions as part 1 of 2.
Back down again today as world markets dive on the increased virus numbers. I link to the JOG story of Buchan video which is very much worth watching, meanwhile I follow up on a meeting with Alan Linn, CEO of Providence Resources. Finally I cover the Trinity update where they continue to produce well from existing well stock.
Oil is quiet at the moment although the inventory figures will be as important as ever this week. Cluff Natural Resources has completed its farm-out to Shell with a well to be drilled soon. Providence and Lansdowne are being forced into another week's extension as the Chinese money is still not in...DGO has announced that its divi will from now, have a GPB Sterling alternative which has gone down well. Catch up from yesterday on IOG where LOG has restructured and EOG have had a Government extension at FEL 2/13.
It has been a bad week for crude oil but yesterday, and so far today, oil is rallying from the lows created by trade wars and grim EIA inventory stats. Amerisur seem to be moving fast with the FSP with a number of companies signed up and Providence and Lansdowne have the approval to get underway at Barryroe but so far no dosh to do it with. I catch up on Touchstone who spudded on the key Ortoire block and Block who are preparing for 38Z but all people want to know is the production rate on 16aZ...
Oil has drifted this morning as the further worries about trade talks bring jitters to the market. But lower rig count and a sub 30m b/d number from Opec keeps things tight. Cairn have had a dry hole in the Norwegian Sea and Petro Matad are suffering after having to suspend the Heron-1 well after title dispute with the provincial govt. Cluff announce that Shell have started 3D seismic on Pensacola and Providence and Lansdowne extend yet again the Chinese backstop date. Kosmos have 2Q figs which were good and have an exciting 2nd half of drilling ahead of them.
Oil rallies sharply this morning after a bad week but one that ended with Iran seizing a British ship. JOG have been awarded a 'transformational' deal by securing the Greater Buchan area close to Verbier. Amerisur reveal that Maurel & Prom are the bidders but at 17p is far too low, Providence and Lansdowne yet again extend the deal for Barryroe as the money from APEC still hasn't arrived and my sources including Jamie Nimmo suggest that VOG is about to announce a whopping contract...
WTI $50.42 -$3.56, Brent $55.55 -$3.55, Diff $5.13 +1c, NG $2.62 -6c Oil price I said yesterday that the oil price was 'resilient' in the face of most influencing numbers ...
WTI $51.69 +$1.21, Brent $57.80 +$1.23, Diff $6.11 +2c, NG $2.58 -2c Oil price Crude oil rose all but one day last week with Brent up 9.1%, 18% on a ...
WTI $75.58 +1.00, Brent $79.33 +$1.23, Diff $3.75 +23c, NG $4.49 +12c Oil price So, lets establish the rules for next week ahead of the Opec meeting shall we? Firstly ...
WTI $104.05 +31c, Brent $109.07 +$1.74, Diff $5.02 +$1.43, NG $4.56 -6c Oil price My friendly traders say that the Brent market was well bid yesterday albeit on low volume ...