Oil rallied yesterday but fell sharply along with markets worldwide after the Fed raised rates again. Faroe has released its response to the DNO bid which ‘substantially undervalues this high growth, full cycle NS business’. Derisory. More good news from President who have closed out the new concessions at Puesto Prado and are getting to work on the assets. Range Resources say that they are paying the coupon on the convertible in shares to keep cash in the business. And from earlier in the week I look at Wentworth Resources who have exited Mozambique and may be one to watch for 2019 on the corporate front.
An Opec+ agreement was completed but the early excitement soon faded and oil lost ground from Friday’s peaks and is back down a dollar this morning. Amerisur look like they have found another very decent discovery at Indico-1 which should be a big boost for them. Coro have done a smart deal with Petronas who have gifted them a huge database which could lead to a PSC in country. Range Resources’ CEO has resigned, a new one is probably going to be 2019 at this stage. Aminex have carried out work at Kiliwani North-1 and found gas at the surface. Finally I write on Jadestone for the first time after meeting the management last week, the stock looks very cheap.
An update from Senegal from Cairn and therefore Far, all is going to plan as the SNE development continues on time. At Range Resources the upgrade programme remains behind schedule but long term value is still clear to see for the patient.
Flash blog today, a welcome discovery from Amerisur in the T sand, good news from Echo in Argentina but a mixed report from Range albeit with longer term positives.
huge results day today so will prob cover lots later or tomorrow, I look at Jersey Oil & Gas, Range Resources and Hurricane Energy post announcements.
In today’s flash blog I look at progress from Range Resources, Genel putting the burners on across the board and results from Wentworth Resources. It is also a red letter day for Trinity as it completes reorganisation and sets sail for a highly profitable future.
In today’s blog I discuss the oil price, good news from Range Resources, a raise and a new team at Solo, FEED coming good at Infrastrata, an acquisition for Kosmos and the BPC CEO gets a new contract.
WTI $70.13 +$1.44, Brent $75.55 +79c, Diff -$5.47 -18c, NG $2.80 +1c Oil price Brent expires today so I have used the October contract and for the differential. On Friday the oil price fell on the back of almost entirely…
WTI $69.30 +78c, Brent $73.93 +49c, Diff -$4.63 -29c, NG $2.78 +4c Oil price Saudi Arabia has announced that this morning that two VLCC’s carrying Aramco crude oil were attacked by Yemeni Houthi militias with very slight damage to one…
WTI $64.75 -$1.06, Brent $75.29 -$1.50, Diff -$10.54 -44c, NG $2.93 -3c Oil price The run in to the Opec meeting on June 22nd has, as I mentioned recently started remarkably early but with 24 seats around the table now…
Tagged with: Coro Energy
, Echo Energy
, Empyrean Energy
, Europa Oil & Gas
, Hurricane Energy
, Independent Oil & Gas
, Ophir Energy
, Pantheon Resources
, Range Resources
, Sound Energy
, Victoria Oil & Gas