A bounce from lows yesterday when WTI ducked below $50 at one stage, recovered with talk of Russian production cuts. At the Tullow CMD they bigged up Guyana, a new and ‘game changing’ project, imagine what it means for Eco Atlantic with 2/3 wells to be drilled next year. Providence have delayed Barryroe but hopefully by only a quarter.
Oil remains weak, proper action will be needed on Dec 6th. More good news from President with another good well and it looks like more to come, Hurricane’s Aoka Mizu has paused in Spain for re-crewing, refueling and some minor repairs. With Wick and Colter now in sight Reabold, Upland and United Oil & Gas are ready for action. Providence Resources have pressed the button and partners have approved the budget for Dunquin South. Meanwhile over at Velocys its change the guard again and there is much to do.
As Opec+ prepares for the Algeria summit oil is perky today and likely to be up on the week. I discuss the Savannah Petroleum deal adding to the Seven assets and notice that SDX may be looking at the huge BP portfolio in Egypt. Soco are also buying in Egypt but more modestly and I look at RockRose after their figures. Reabold have two pieces of news, especially going well in California, Petro Matad has a duster in Mongolia and Providence unveils more Barryroe wells.
WTI $69.46 +70c, Brent $72.58 -32c, Diff -$3.12 -$1.02, NG $2.77 +5c Oil price More flip flopping around yesterday as a good start, prompted by the Saudi Opec Governor’s comments that exports may fall back by around 100/- next month,…
WTI $71.14 +$2.08, Brent $77.21 +$2.36, Diff -$6.07 +28c, NG $2.74 n/c Oil price Yesterday’s price move was a direct result of the US move on sanctions against Iran, earlier falls had been in the hope that they would not…
Malcy talks about the following stocks: Faroe Petroleum #FPM, Ithaca Energy #IAE, Amerisur Resources #AMER, Savannah Petroleum #SAVP, Echo Energy #ECHO, Chariot Oil & Gas #CHAR and Providence Resources #PVR
WTI $63.01 -$1.93, Brent $67.64 -$1.70, Diff -$4.63 +23c, NG $2.68 -5c Oil price The chartists are giving it some this morning as they had been getting worried that all their resistance points for crude oil were being wiped out.…
WTI $60.42 +58c, Brent $66.60 -12c, Diff -$6.18, NG $2.95 +4c Oil price A very Happy New Year to everybody, fully refreshed (?) I’m back on deck and looking forward to whatever 2018 brings to us. The prices above are…
WTI $50.41 +93c, Brent $56.29 +$1.15, Diff -$5.88 +22c, NG $3.09 -3c Oil price A good day yesterday as the market was positive ahead of the Opec/non Opec meeting at which an extension of the deal looks likely. The EIA…
WTI $49.30 +$1.07, Brent $55.16 +89c, Diff -$5.86 -18c, NG $3.06 +6c Oil price Another healthy day for the oil price although to be fair on the ground life has not yet fully got back to normal. Accordingly the inventory…
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