Oil drifts today after Fed comments on next years interest rates warn that falls will be hard earned. Today Wentworth announce results which are highly creditable on the operating side with the M&P deal in the mix. Touchstone have a Capital Markets Day today and with Cascadura onstream the company is transformed. Finally, DEC has had its borrowing base increased from $375m to $425m.
Oil fell nearly 10% last week after the bank collapses maxed out the indices and commodities. Today I look at Zephyr who have started to test at the State well which will be exciting and Wentworth are trading just fine. Egdon looks good and Predator raised money for MOU-3 .
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.
Oil rallied strongly as despite the inventory stats I mentioned yesterday oil jumped on economic news and potential further sanctions against Russia. Today Wentworth updates on the takeover by M&P and Afentra update on Angola. Pharos has an extensive reading and operations update and UOG have some encouraging numbers on Maria.
Oil is quiet as managers trim positions ahead of the break. Today sees another upbeat operations update from Arrow Exploration and San Leon repeat the Decklar news. I note the Wentworth comment and cover the interesting news from COPL on Wednesday.
Oil was up last week and stronger again today, Opec+ didn't change the deal and the EU seaborne oil and the G7, EU and Australian price cap came in at $60. Wentworth has announced an agreed takeover by Maurel & Prom and Angus are working hard at Saltfleetby. At Serica Eigg is non-commercial but trading remains strong and Petro Matad still have no luck at XX but are hopefully drilling Block V next year
Oil fell on China Covid worries, good figures from Wentworth and a small delay for San Leon on technical grounds. Scirocco are one step nearer the new go and Reabold say that the Corallian deal will go ahead.
Oil rose last week but July was another down month, demand falling as the recession arrives is deemed responsible. Today Scirocco update on Tanzania, probably more interesting to Aminex and Wentworth...Eco Atlantic have a big update but its a very exciting outlook, whilst Longboat spud Oswig and Prospex update on El Romeral. Finally I had the opportunity to interview John Bell of Gulfsands last week and the detail is in the blog today.
The oil price fell after recessionary worries hit, Serica has replied to the Kistos bid and Sound lose this round of the tax dispute in Morocco. Wentworth put this RNS out when I was at the cricket but the ARA pre-emption may be overtaken by TPDC and I wold be surprised if this was over yet. Finally Getech has another piece of good news for the market.
Figures from Chariot in line, Wentworth better than guidance, Savannah are continuing to deliver the goods and Eco are ahead of schedule at Gazania.