Good numbers from Pharos, PetroTal are in the dry season but guidance is unchanged, the yield is not it's 17$ plus 2 for the buy-back. IOG are working hard and in talks with bondholders and Longboat have added to the previous acquisition.SDX continue to impress with deals and Hunting were also very impressive at the Capital Markets Day. Star meantime are all-in on geothermal.
Oil is quiet today due to Labor Day in the US. SDX are drilling again in Morocco, Sound have a conversion into equity, Empyrean have results and Trinity has Terms of Reference for its EIA at Buenos Ayres block.
The oil price was boosted by the arrival of the hurricane season as Idalia swept across the Gulf of Mexico and non-essential staff were removed and key regional pipelines were shut. More on inventories tomorrow but the API saw a draw of 11.486m barrels. I write up CEG, with more tomorrow and Predator who have updated on Morocco. Finally Eco Atlantic are looking good right across the bulging portfolio. Finally SDX have what looks like a great deal in Egypt.
Flash blog covering Arrow, SDX, Deltic and Ithaca.
Oil rallied last week and is quiet today, Chinese data disappointed after a mixed week in the US. Today Zephyr update from the Paradox Basin and Europa from a summit in Ireland. Finally Petro Matad have a duster at Velociraptor and SDX terminate an employee.
Oil fell ahead of the Fed meeting which announces rates tomorrow. Today Sound have a sparkling update, Pharos have blocks 125/6 extended by two years which is excellent. IOG also update and news there is good as well. Touchstone have won their preferred block in the Trinidad licence round as have Trinity. Angus have shown flexibility at Saltfleetby and Predator have updated with a difficult but what looks like an ultimately successful MOU3. I update on SDX and Reabold from yesterday on a policy I can't understand.
So, Opec, or one should say the KSA have had enough and appear to want to draw the line in the sand at around $80. Today Challenger appear to be the proud owner of another block offshore Uruguay and SDX have got a better GSA in Morocco. Finally Hunting Have cut an interesting JV in premium tubing.
After last week's shenanigans oil rallied yesterday but there's still plenty of economic trauma to come all over the world. The rig count was down as is retail gasoline. Another excellent quarter from DEC who created a record production and now yield some 15%, not to be missed. San Leon had a bit of good news as Decklar upped sales and Reabold have moved into long term production in Italy....SDX appoints a new CFO and Echo restructure which the market rather likes...
Oil is weak today ahead of the Fed tomorrow. IOG talk the Blythe well, Zephyr announce good hedges and Chariot tie up with Vivo in Morocco. Arrow are in great shape and will hit targets while Longboat have JVd with Japex in Norway. SDX are partnering with Aleph on alternative energy projects, PetroTal appoint a COO and Angus update on Saltfleetby.
Oil has been week as US recession bares its teeth, but inventories are down and Opec doesnt like the IEA, neither do I...Gulfsands reiterates its Syria platform, Predator and SDX have meaningless results, Reabold updates on operations and a new buy-back.