Opinion

Oil Price, Sound Energy, Jersey Oil & Gas, Amerisur Resources, and Finally…


WTI $67.89 -37c, Brent $73.06 -1c, Diff -5.17 +$2.56, NG $2.72 -4c

Oil Price

Yesterday saw a mixed market, after a rally when oil workers in both the UK and Norway either downed tools or threatened to, any disruption  was rightly perceived to be small beer. Of more substance is the rhetoric between Tehran and Washington, the latter threatening to close the Straits of Hormuz (20m b/d) the latter offering all sorts of high level violence. With Libya opening up another small field adding 50/- b/d or so to exports, oil ended down, by a whisker, what fun it is on the oil Bourse…

Sound Energy

Sound has announced that it has commenced civil works and signed a rig contract for TE-9 on the Tendrara licence onshore Morocco. This follows the announcement of the Environmental Impact Assessment on June 6th and with yesterday's news about Schlumberger's commitment reinforcing the partnership things are looking up.

Jersey Oil & Gas

As operator, Equinor has advised JOG that the Verbier appraisal well and possible side-track will now be the third in the sequence of drilling rather than the first. Practically it makes little difference, the well will now be drilled in late Q4 2018 rather than late Q3/early Q4, the change in process will not effect the costs of the well.  Unsurprisingly,the shares have been marked down slightly this morning as investors calculate the time value (of course!) but now offer even more value for those with longer term aspirations.

Amerisur Resources

An extra operational update from AMER this morning who have stated that Platanillo-22 now needs a workover in order to recover production capacity in ‘this important well'. This should permanently and cheaply resolve the production decline. Logs are now being run to check various parameters such as cement integrity.

Elsewhere all is good, all three high profile exploration wells are on target to spud this quarter which should provide the impetus for the shares which have inexplicably marked time recently. In Ecuador the news is also good, the Chiritza re-pumping station project is going well, tie in to the RODA line is expected shortly when increased transport minimum capacity grows to 9,000 b/d.

And Finally...

With the Tour De France (never normally mentioned here) warming up it has rarely been so close between British riders who themselves might be pipped for the Yellow Jersey.

I see that Ryan Lochte, US swimmer with 12 Olympic medals has been banned for a doping violation, not the first ban for Mr Lochte but the first for drugs…

And the cricket County Championship is hotting up, particularly in the Roses match and at Trent Bridge…



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

https://malcysblog.com/2018/07/oil-price-sound-ene...

MalcyMalcy'sMalcy's Blogoil priceSound EnergyJersey Oil & GasAmerisur Resources

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 8 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 8 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 8 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 8 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 8 months agoOpinion > MalcyMalcysMalcy's Blog +5
All posts from malcy