Another rally from oil after the comments about Opec+ production crept into the market. At Union Jack the capital reduction update paves the way for a dividend. Predator have FY 2021 figures and Angus are very close to first gas at Saltfleetby. I speak to Marshall Abbott, CEO of Arrow Energy Corp which is highly illuminating and Trinity starts a six well drilling programme and SDX spud MSD-23.
Oil is actually fairly quiet at the moment, it won't last... Today Angus has announced that it is buying in the 49% of Saltfleetby that it doesnt already own in a smart deal. Coro update the market, Trinity have full year results and Helium One Global are off drilling again...
Oil is relatively strong ahead of the Opec meeting on Thursday. IOG have given a detailed update and SDX have a good result at South Disouq. Finally Trinity have 'paused' the Galeota farm-down process which is a disappointment.
After the substantial rise in the oil price last week and again yesterday oil is lower today. Rockhopper has announced that the Sea Lion farm-out has gone ahead and Empyrean has announced good interim results from its Jade well. Trinity has a Q1 update , UOG meet Q1 production guidance and Arrow look to have a successful well in Colombia.
Yesterday, as I reported, oil joined in the panic about recession with markets all over the place. Today Wall Street has fallen again ahead of the Fed tomorrow but this time oil has bucked the trend and is about 50 cents higher. IOG has updated and despite a few technicals first gas is not far away. Union Jack and Egdon have decided to submit an appeal against the refusal of planning permission by Lincolnshire County Council (LCC) on 1 November 2021, for a side-track drilling operation, associated testing and long-term oil production at the Biscathorpe site. Capricorn update the market as do Trinity and President. Finally I catch up with Block after yesterday's announcement.
Oil will be quiet for a couple of days as the USA celebrates Thanksgiving but it needs a break after all the SPR shenanigans. Serica announce first production from Columbus whilst President complete the farm-out of Paraguay. Trinity get approval for Galeota and I catch up with the SDX management.
Panic measures by the US to get the gasoline price down strike me as shutting the stable door, the oil price, down 8 bucks recently is nearly two dollars higher on the news...!Savannah have an updated Nigerian CPR as well as another positive financial and operations update, I note yesterdays RNS from Trinity.
Oil still rises, the IEA are no different to the others, it will be another good week. Zephyr announce that it is ready for the next phase at the Paradox Basin and Kosmos got the offering away at a very decent premium. Trinity are in-line with expectations and so are Gran Tierra.
Oil is up around a dollar this morning despite some indifferent economic news from China. More importantly the natural gas price continues to run, in the UK it was nearly 200p this morning. A great result for PetroTal at BN-8H gives them a better than expected 7.6m b/d making 15.4m b/d, also Pharos farm-out in Egypt, another very smart deal. Longboat update, things are starting to happen with the drill bit and Petro Matad have interims and are preparing for Heron production next year. Finally Trinity have first result post the tragic loss of Bruce Dingwall.
Oil should be modestly up on the week not something you might have thought on Wednesday. Touchstone has 2Q results and an operational update. Prospex have found a legal technicality as a number of shareholders attempt to unseat the board and Block, in a similar situation have appointed Jeremy Asher to the board...Finally, after the tragic death of Chairman Bruce Dingwall Trinity reshuffles, no surprises in these appointments.