Flash blog: Europa, Sound, Savannah.
Announcements today from Europa and yesterday from Sound and Savannah.
Announcements today from Europa and yesterday from Sound and Savannah.
Oil is unchanged today on a quiet inventory report. Figures from Savannah, a good result from Arrow, A minor disturbance for PetroTal and good news for Petrofac.
Oil is waiting for the vote in the House tonight but even if that succeeds there are other hurdles ahead. These include the Non-Farm-Payroll on Friday, the Opec Meeting on Sunday then the Fed meeting where a pause is no longer the favourite. Today I look at Savannah who have agreed a NGSPA in Nigeria, DEC where directors are buying stock for cash and Challenger who appear to have something very serious on in Uruguay...And I have seen something from Reuters who appear to have the early nod on the Trinidad licensing results...
Oil fell yesterday after the Russians said that Opec doesn't need to cut any further at next week's meeting. Touchstone has topped up its debt facility ahead of Cascadura and testing at Royston, Savannah comment on COTCo and Echo confirm sale of most of Santa Cruz Sur. And I note that EOG is having a shareholder meeting on the 8th June.
An MOU in Niger from Savannah for 2 solar power stations and an update from Genel about the pipeline. Also another blistering quarterly report from PetroTal.
Oil fell again as US data indicated rate rises next month. Savannah has agreed with the Government of Cameroon for a hydroelectric project to come onstream in 2027/8 and has announced a new NED and Chair designate. And Petrofac has announced extension of its banking facilities.
Oil is falling after a gathering feeling that inflationary pressures will force the Fed to raise rates next month. Today Savannah have sold a 10% stake in the COTCO Cameroon pipeline for $45m and Deltic announce results. Finally Trinity state that all is back to normal at Trintes.
Another good day for oil with economic data mainly from the East being helpful and US CPI data. Savannah have a Q1 operations update and Serica have finals but with important updates from the Tailwind completion. Finally Jadestone has issued operational and financial guidance and results due date.
Oil is quiet ahead of the Opec meeting which has just started. PetroTal has a huge increase in year end reserves and Zephyr pay the first stage of the shares for the recent acquisition. Arrow issue a very upbeat update, they have10 wells and seismic on the way this spring and Savannah have a high quality NED.
The 2023 Bucket List is published today, five companies are leaving one way or another and three are joining the group. The Oil and Gas prices both showed consistency in being virtually unchanged on the year although the prices changed at different times during it, see the charts. The blog also announces how the 2022 list fared.