A big rally last night for oil as inventories tightened again. Today I look at Kistos which looks particularly attractive now that MIME is bedding in. Figures from Rockhopper show that the arbitration €260m should be getting closer and United Oil & Gas are working hard across the portfolio. SDX has a successful gas well and Trinity updates on Jacobin in the figures. Petro Matad is going to take time so don't hold your breath and finally I reprise the missing work on Reabold, Union Jack and Longboat from yesterday.
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.
Oil rose for the 6th week in a row as the Opec meeting ended as expected with production cuts. Today Beacon say the German well is expected in the coming days and Trinity have found what looks like a lot of oil at Jacobin. Egdon confirm the deal at Weaverthorpe and Reabold update on the LNEnergy deal. Finally Prospex ramp-up at PM-1 with gas flowing.
Drift yesterday in oil as China stays front and centre. Today Pharos has an exceptional trading statement which includes a tasty report from ERCE in Vietnam. Jadestone also update but they have to go and deliver the goods now, the time for chatter is over. And an update from Trinity but with no production growth Jacobin needs to come in as Buenos Ayres is a long way away.
Oil remains firm despite some data headwinds. Hunting has announced collaboration with CRA Tubulars which is normally worth watching and Predator have released more information from MOU-4. Rockhopper have some good news with regard to its arbitration and Trinity has said that the Jacobin well has sidetracked but encountered the zones they are looking for. Finally Gran Tierra updated with good, increasing current production numbers.
After the weekend oil doesn't know how to react unchanged today. I look at IOG who have a very good result at the Blythe H2 well and will be upping production. Zephyr finals are as expected and Trinity have early indications of success at Jacobin. Last week Chariot had figures with exciting potential for Anchois partners, Sound completed its debt issues and is now clear to move ahead at Tendrara and JOG completed on the GBA farm-out, a fantastic deal.
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.
Oil fell again yesterday but there are still many forces at work, right now its a strong greenback. Today I look at UOG, back winning at Abu Sennan and Gran Tierra whom I saw recently. Challenger and Predator get a delay and Trinity are still becalmed production wise anyway.
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 sharply as US recession looms, Sound look closer to financing and Petrofac have rewritten the numbers. UOG have sold Maria and Jamaica appears to be a bit closer. Trinity have no growth so the Jacobin well is crucial and Tower may well be on the way in Cameroon whilst at GKP everything stops for the pipeline closure.