Oil spiked and is up again today, maybe seeing The President back but maybe due to a Norwegian oil workers strike and yet another hurricane on the way. Premier today announce that they have succumbed as they fall into Chrysaor's hands and Solo Oil have drawn down a bit of extra from the Prolific facility. Finally I catch up with BPC to talk about the recent raise and upcoming events.
Oil has rallied for two days now despite mixed messages from the market. In company news IGas is making an interesting move into geothermal heat by taking over GT Energy for shares. Premier are now being forced to speak to other market players which is all they need at the moment. Finally another TR-1 from Block Energy makes one think that the pantomime season isn't far away...He's behind you........
Oil fell hard, previous Saudi action to offset lower Asian demand as well as lower domestic demand as two major refineries remain closed hit the market. Kosmos has sold a package of assets to Shell and PetroTal hope to get the Bretana field up and running 'imminently'. Echo Energy has splashed out, albeit on the strap, on 4 gas compressors previously leased as well as bring back some shut-in production. Finally, in case you missed it in the late blog yesterday I rerun the link to my interview with Premier Oil CEO Tony Durrant.
Oil has cracked down as equity markets are worrying about Covid-19 and demand knock on effects. I have today interviewed Premier Oil CEO Tony Durrant about operational performance and the upcoming financial restructuring. I also look at United Oil & Gas after an interview with CEO Brian Larkin, it looks most interesting with defensive capabilities and plenty of upside.
Malcy catches up with the CEO of Premier Oil, Tony Durrant. On the show today they discuss the operational structure of the firm, updates on their global ventures and why ...
Oil remains very quiet, a modest warning from the Opec meeting to keep production under control. The West Newton partners announce that the operator has submitted screening requests for two new potential hydrocarbon well sites with substantial potential. And Premier has put together an imaginative and bold refinancing offer in order to finally see the end to the debt pile it has been labouring under.
Oil is drifting as the number of virus cases notched its highest ever one day increase overnight. Touchstone has announced an independent reserves evaluation of the Cascadura discovery which gives some very spicy reserve, production and NPV numbers leaving the company way too cheap. Premier are moving towards completing the BP deal but it's not in the bag yet.
The oil price inches forward after good inventory stats but ahead of the news out of the Opec+ JMMC committee meeting. Premier announce a trading and operational update in which news remains good at the latter level but with key negotiations with creditors ongoing and an equity issue yet to get away they arent out of the woods but it looks promising.
Oil is in quite good nick, this week's inventory figures have helped, Premier continues with its Andrew and Shearwater deals but have quit the Tolmount acquisition. Reabold have announced news from Romania but that well is early days yet.
Oil has rallied again today on the news about tomorrow's Opec and Opec+ meetings, as I write WTI is $38.27 and Brent is $41.20. I look at Premier Oil who are getting a reduction from BP in the price of the NS assets but have had to cut a deal with ARCM in the process. There is also an AGM statement from IGas which shows the strength of the company finances and its management and also we have 2019 results from Getech.