Opinion

Oil price, Range Resources, Hurricane Energy And finally…


 

Oil price

A sharp correction yesterday caused by the inventory figures, first the API and then the EIA. It was not crude that caused the trouble, the draw there was quite impressive but the build in gasoline stocks in particular. Refiners upped their runs to 93.8% which drew crude but added significantly to the gasoline stocks, nothing to worry about…

Range Resources

Things are beginning to happen for Range who had the drilling company acquisition approved last week and should be on for a reappearance on the market very shortly. Today they announce the preliminary result of well GY 684 on the Beach Marcelle field which was successfully drilled to 4,300′. Wireline logging has completed showing three target zones penetrated with the primary target zone ( the Lower Gros Morne Sands) in particular being better developed than anticipated. Approvals have been sought for perforating and production testing the well.

Hurricane Energy

Hurricane is following up on its recent formation of a Listing and Governance Committee (LGC) by announcing that it has appointed Spencer Stuart to source a Non-Executive Chairman of the board. This process is being overseen by the Nominations Committee which after this appointment will add further Non-Executive Directors to ensure that the company is compliant with Code Provision B.1.2. Signs of maturity here which are most welcome, this is a growing company and complying accordingly.

This is an important step in the continuing process of HUR growing as it moves to the EPS on the Lancaster development. Investors who are understandably keen for news should find the next few months of significant interest, next week the company is hosting an investor and analyst site visit to Dubai  to view the Lancaster Early Production System (“EPS”) related works in Dubai. The ‘Aoka Mizu' FPSO (“Aoka Mizu”), and the buoy and turret mooring system are critical to the EPS development and represents a majority of the overall development capex. This and further news on developments, as well as an imminent CPR, should ensure that investors remain confident of first oil from the EPS in 1H 2019.

And finally...

The Champions League was all tucked up before last night so the Noisy Neighbours losing to Shakhtar Donetsk was apparently in preparation for Sunday… The HubCap Stealers made hay in the retreat from Moscow and scored 7.

Tonight the Toffees are at Apollon Limassol which they will probably throw like the last one and the Gooners host BATE Borisov which they dont need to win.


Visit source site

malcysblog.com/2017/12/oil-price-range-resources-h...

oil priceHurricane EnergyRange ResourcesEIA

More items from malcy


Oil Price, Amerisur, Coro, Range, Aminex, Jadestone, and Finally…

WTI $52.61 +$1.12, Brent $61.67 +$1.61, Diff -$9.06 +49c, NG $4.49 +16c Oil Price Well it was at least a deal and one that markets liked, just about. Closing prices were well off the top showing that even 1.2m b/d off the market is no guaranty of returning to recent price levels. It looks lik ...

Malcolm Graham-Wood - Malcy's Blog


Posted 1 day agoOpinion > MalcyMalcysMalcy's +7

Oil Price, President, Sound, Ophir, Premier, Tower and Finally…

WTI $51.49 -$1.40, Brent $60.06 -$1.50, Diff $8.57 -10c, NG $4.33 -14c Oil Price Markets don't like uncertainly and that is what they are getting at the moment. Opec met yesterday and unusually didn't have an agreement ready to go partly as they couldn't agree exactly what to say. Today Opec ...

Malcolm Graham-Wood - Malcy's Blog


Posted 3 days agoOpinion > MalcyMalcysMalcy's +7

Oil Price, Rose Petroleum, and Finally…

WTI $52.89 -36c, Brent $61.56 -52c, Diff -$8.67 -16c, NG $4.47 +1c Oil Price The day of the Opec+ meeting has arrived with seemingly little consensus but for a general agreement that production cuts are necessary. I suspect that this will be one of those meeting outcomes that will be some sor ...

Malcolm Graham-Wood - Malcy's Blog


Posted 5 days agoOpinion > oil priceRose PetroleumMalcy +3

Faroe, Eco Atlantic, Infrastrata

Faroe Petroleum Faroe has announced a Norwegian asset swap with Equinor, it trades out of all interests in the Njord and Hyme redevelopments and the Bauge development assets in return for four production assets on the Norwegian continental shelf being Alve, Marulk, Ringhorne East and Vilge. The ...

Malcolm Graham-Wood - Malcy's Blog


Posted 5 days agoOpinion > Faroe PetroleumFaroeEco Atlantic +6

Oil Price, Reabold, DGO, Lekoil, and Finally…

WTI $50.93 -52c, Brent $58.71 -80c, Diff -$7.78 -28c, NG $4.61 -3c Oil Price Friday was listless, no news had started to come out of G20 so no positions were taken as a result. All is different this morning though as risk is being taken off in most markets. This is for two reasons, firstly th ...

Malcolm Graham-Wood - Malcy's Blog


Posted 8 days agoOpinion > oil priceReabold ResourcesDGO +6
All posts from malcy