A wressle announcement from both UJO and EOG.
After last week's fall oil is up well over a dollar today after yesterday Russia and the KSA confirmed that their output cuts would not be discussed at the upcoming meeting but would wait until the December event. Today Union Jack get a favourable planning call at Biscathorpe and on Friday Sound announced a small debt restructuring. And today Kosmos produced another set of excellent figures.
Oil is up another dollar and a half today as Sleepy Joe visits Israel. Arrow announce huge exercises of warrants and the most recent well spud. Zephyr update on the Paradox and a fam-in and UJO and EOG announce that Wressle work is nearly done.
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 pauses after a 50% run up, at the WPC in Calgary Abdul Aziz lays out the 3 P plan. Zephyr note market rumours that the Dominion gas pipeline is nearly operational and be ready for their gas in due course. Union Jack announces a 3.1% stake in Beacon and hopes to work with them in Germany whilst Longboat find uncommercial gas at Velocette but there may be more to this story.
Oil was up on the week again and is holding $90 for Brent at the moment. Today UJO post good results and Arrow have a sparkling reserves report. Europa are progressing at Cloughton and Beacon, despite operational issues look like they have a big find on their hands.
Oil is better again today after further assessment of the inventory stats which showed a big draw in crude. Today Wressle is being installed with a jet pump for increased production for Union Jack and Europa. GKP had nothing much to say about the pipeline but are selling a decent amount of crude at the factory gate. i3 had a bad beginning to the half but is looking better lately. And Coro is trading around the Philippines from Ion to Oslob.
Oil fell after Fitch trashed the markets. The Wressle partners update on a small amount of water but nothing that wasn't expected. I catch up with Will Holland who tells me all about Cloughton and there is good news from Coro.Finally IOG get the bondholders approval for the Waiver.
Oil rallied yesterday ahead Fed day today, now known as a Hawkish pause...San Leon updated and will be suspended as they wait for the finance to be arranged in Nigeria. Challenger get the licence they wanted in the Trinidad Licence round and UJO have another milestone at Wressle. Petro Matad have spudded Velociraptor and IGas are switching slowly to geothermal.
Oil has risen by another dollar today, despite poor Chinese economic data. IOG have had a slight problem at Blythe H2 but are hoping to sort out the problem. JOG have had approval for extending and farming out the licences at the GBA. Egdon and partners have run into a problematic Planning Inspector and Gulfsands have their annual report out. And Jadestone cap a bad year with a raise of equity and working cap and an Open Offer but it's turnaround time and elsewhere good finals from i3.