Opinion

Oil price, Victoria Oil & Gas And finally…


 

Oil price

The Opec meeting ended up with what everyone expected, a maintenance of cuts through to the end of 2018. There was a modest tip of the hat to Russia by agreeing to a ‘production review' at next June's meeting which may be interesting. There is no certainty that at that stage things will look that much better, after all if Opec's predictions are right the big call on its production will be in H2 not H1.

Brent expired and the February contract is up 38c this morning at $63.01 which is pretty creditable, WTI is up 28c at $57.68. Given the ongoing worries about non-Opec production I consider the oil price to be in pretty good nick, time will tell as to the efficiency and stayability of shale and oil sands but one has the confidence that if the price falls back their production falls back too. The oil sector should be ablaze, lower costs achieved by expectations of sub $40 oil should mean that over $60 hay should be being made, if not questions need to be asked in the house…

Victoria Oil & Gas

VOG today announce the completion of the La-108 well at Logbaba which has been delayed by 14 days due to electrical problems. The liner has now been run to TD and cemented in place, the production equipment will be placed in the well and then the rig will be skidded off. The well is then scheduled to be perforated and flow tested and should be on production by mid-December, it is worth remembering that the preliminary analysis of the logs showed 84.5m of net gas sands in the Logbaba formation.

VOG is one of a number of stocks that should have performed way better given the current state of the market. With Opec concluded and the new Brent contract over $63 the market is not behaving efficiently and therefore offers exceptional value in a number of stocks, VOG is one of them.

And finally...

The football World Cup draw for Russia 2018 will be made at 3.20 this afternoon, expect over analysis and the creation of groups of death and the like, usual advice to England fans is not to book hotels for the latter stages…

The Premiership is back this weekend, Sunday sees the Noisy Neighbours host the Hammers and also that day is the Riviera derby between the Cherries and the Saints. Tomorrow the big game is the Gooners v the Red Devils whilst Chelski host the Magpies, the HubCap Stealers are at the Seagulls and Burnley go to the Foxes. The interesting fixture is Spurs going to Watford, if they are to keep up with the leaders a win at the Hornets is crucial.

And racing at Newbury and Newcastle where the famous Fighting fifth is of high quality but short on runners…



New service from OilVoice
Trip Shepherd is for companies who need to track their staff in areas of risk.
It's free to use, so we invite you to try it.

Visit source site

malcysblog.com/2017/12/oil-price-victoria-oil-gas-...

oil priceVictoria Oil & GasOPECRussia

More items from malcy


Oil Price, Savannah, Range, Pantheon, and Finally…

WTI $45.88 -$2.29, Brent $54.35 -$2.89, Diff -$8.47 -$1.57, NG $3.58 -14c Oil Price Whether you call it a risk off moment after the Fed and others warned about the economy next year or just a supply worry that Opec+, ie Russia won't cut production next year the oil price retreated and will li ...

Malcolm Graham-Wood - Malcy's Blog


Posted 9 months agoOpinion > oil priceSavannah PetroleumSVP +6

Oil Price, Faroe, President, Range, Wentworth, and Finally…

WTI $47.20 +96c, Brent $57.24 +98c, Diff -$10.04 +2c, NG $3.73 -11c Oil Price A rally yesterday after a handy set of inventory numbers but oil is down again today after world markets did not like the rate rise from the Fed. The EIA announced a crude draw of around half a million barrels which ...

Malcolm Graham-Wood - Malcy's Blog


Posted 9 months agoOpinion > oil priceFaroe PetroleumPresident Energy +6

Oil Price, Reabold, Angus, IOG, and Finally…

WTI $46.24 -$3.64, Brent $56.26 -$3.35, Diff -$10.02 +29c, NG $3.84 Oil Price Another very bad day for oil yesterday and whilst news is still not good it is certainly not as bad as this price suggests. Today is Fed decision day and we are led to believe that another rise is on the cards but f ...

Malcolm Graham-Wood - Malcy's Blog


Posted 9 months agoOpinion > oil priceReabold ResourcesAngus Energy +6

Petrofac, President, IOG, Infrastrata, IGas, Cairn/Far, Aminex

Petrofac Trading update from PFC this morning, all in line with expectations, indeed I would venture that this is a pretty good update given where company has come from. The $5bn order intake is impressive giving a backlog of $10.2bn and with over $15bn of tenders out the outlook for 1H 2019 is ...

Malcolm Graham-Wood - Malcy's Blog


Posted 9 months agoOpinion > PetrofacPresident EnergyIOG +10

Oil Price, DGO, Block Energy, and Finally…

WTI $52.58 +$1.43, Brent $61.45 +1.30, Diff -$8.87 -13c, NG $4.12 -1c Oil Price It looks like the oil price will be roughly even on the week, today it is down a touch on the poor Chinese economic data but the better than expected inventory data from the API, EIA and Genscape have also shown s ...

Malcolm Graham-Wood - Malcy's Blog


Posted 9 months agoOpinion > MalcyMalcysMalcy's Blog +5
All posts from malcy