A big rally last night for oil as inventories tightened again. Today I look at Kistos which looks particularly attractive now that MIME is bedding in. Figures from Rockhopper show that the arbitration €260m should be getting closer and United Oil & Gas are working hard across the portfolio. SDX has a successful gas well and Trinity updates on Jacobin in the figures. Petro Matad is going to take time so don't hold your breath and finally I reprise the missing work on Reabold, Union Jack and Longboat from yesterday.
Oil rallied last week and is quiet today, Chinese data disappointed after a mixed week in the US. Today Zephyr update from the Paradox Basin and Europa from a summit in Ireland. Finally Petro Matad have a duster at Velociraptor and SDX terminate an employee.
Oil is down today after a small bounce while markets adjusted for 4th July. Today I look at Touchstone which has good news on the way from Cascadura and I PetroTal announce record production in Q2. Hunting have also blown the lights out with numbers looking materially ahead of expectations and Petro Matad have finally received approval for block XX. Finally Prospex should be congratulated for first gas at the Selva field.
Oil drifted yesterday on Juneteenth Day and has risen slightly today. PetroTal report the blockade is over and production is good while Afentra havent quite completed with Sonangol yet. Petro Matad results as expected and from yesterday Kistos and Arrow where I have a fascinating interview with Marshall Abbott.
Oil rallied yesterday ahead Fed day today, now known as a Hawkish pause...San Leon updated and will be suspended as they wait for the finance to be arranged in Nigeria. Challenger get the licence they wanted in the Trinidad Licence round and UJO have another milestone at Wressle. Petro Matad have spudded Velociraptor and IGas are switching slowly to geothermal.
Oil was up a bit as Turkey restarted production from Ceyhan, today it's all about the US CPI numbers which will affect the greenback and rates. Zephyr announce the news from the State 36-2 in the Paradox Basin and PetroTal confirm the TSX quote. Challenger tidy up the portfolio a bit and Coro make a claim in Italy whilst Tullow go to arbitration too. Finally Petro Matad have another mixed bag.
Oil continues to fall on the back of worldwide recessionary worries which have boosted the dollar. I spoke to Angus Energy CEO George Lucan where things are looking up and the link is here. Longboat has had figures today and I look at Petro Matad from last week.
Oil rose on Friday but WTI was down on the week, Brent unchanged. Nothing different at the moment, Libya is back down to 100/- odd b/d if that. Today Genel announce KRG payments and Savannah start gas sales to Axxela and Touchstone updates the market on COHO and Cascadura. Arrow have another success in Colombia and Eco Atlantic have raised money in Africa to top up their stake in 3/B and 4/B. Challenger note a scoop on Friday re Uruguay and results from Petro Matad show a positive situation after a terrible year or two.
Oil is up again today, over $110 for WTI and $113 for Brent, the way things are going it will be one way traffic for a while. Today Petro Matad say how they are struggling with Chinese Covid measure but will be OK. Petrofac have won a good contract in the Gulf of Mexico and will be a good investment from here. Also I note that CEAG have an exciting new product in the market.
Oil is up around a dollar this morning despite some indifferent economic news from China. More importantly the natural gas price continues to run, in the UK it was nearly 200p this morning. A great result for PetroTal at BN-8H gives them a better than expected 7.6m b/d making 15.4m b/d, also Pharos farm-out in Egypt, another very smart deal. Longboat update, things are starting to happen with the drill bit and Petro Matad have interims and are preparing for Heron production next year. Finally Trinity have first result post the tragic loss of Bruce Dingwall.