Oil rallied as Hurricane Ian headed towards the Gulf of Mexico, it's now veered towards Florida. Today i look at DEC with a deal completion and yesterdays buy-back news and Reabold have madea small acquisition. Getech have results and now need to deliver, and i3 add to yesterday's announcement to say that Graham Heath is leaving. Yesterday was a nightmare with so many results and calls/meetings that they are in today's blog.
Oil will likely be up on the week as the agencies report differing views, not often that the IEA are more positive than Opec but they are restating their numbers. I look at Jadestone who have decided to stop production at Montara while they fix it and Eco Atlantic are on the move with the rig mobilised for Gazania-1. Also I look at President with Argentinian numbers, and catch up with Hurricane and Prospex from yesterday.
A good rally for the oil price as the dollar weakened after the Fed added just the bp's but the EIA stats were very positive. DEC have another acquisition in the Central Region which looks exciting and accretive. Jadestone too have an interesting deal with plenty of upside. And President update on operations and corporate matters.
Brent is opening up a gap over WTI slowing refining in the US after demand for gasoline has slowed. Kistos and Serica have carried on with their battle and Union Jack has yet more good news from Wressle. Hurricane has unsurprisingly paid off the debt and it's all change at President with the set up of Green House Capital starting with Lithium and Echo has updated the market.
Oil rose as production in Libya and Ecuador fell for civil rights reasons. Still no data from the EIA and Macron thinks he has a scoop from Opec. Savannah bring more gas onstream and Petrofac have decent figures looking better in 2H 22. President results good and value still way too low and Getech sign a big contract. Finally Coro have had a good year
Oil fell on the Fed confirming a 75bp rise with Swiss and UK central banks today and the ECB being what only they can be...Lots of company news today, PetroTal have a good sales update, Zephyr are investing better than expected cash flow, Rockhopper raise went very well, Harbour are buying back $200m, Longboat update in full detail, Hurricane monthly shows more cash build up and President have a bare bones update.
Oil will be modestly down on the week after continued drift and delay from the EU about taking oil & gas from Russia. Today Enercom names and shames those international refiners still taking Russian crude which are mainly Indian. President announce numbers from Argentina which continue to show solid progress. Empyrean is raising funds to to after Topaz and I get back to Capricorn following its AGM statement.
A sharp fall for oil yesterday as the IMF brought down its growth forecasts and increased its inflation numbers, the only good thing is that, like the IEA they are always wrong. Challenger continues its restructuring with decent gains in production while Hunting is unsurprisingly busy on all fronts. At Hurricane the monthly operating stats remain positive and President has a lengthy update with good realisations and closer to a big exploration well.
Oil has fallen sharply again today, Covid in China worrying. Today good results from Genel and news from Sound who are ploughing ahead at Tendrara. UOG, has more success and news from President and Far who are exiting Guinea Bissau. Scirocco note Helium One data.
Oil continues to rise, President updates on 2 successful wells and new Argentina boss and Getech report upbeat contract wins.