Opinion

Oil Price, Sound Energy, Wood Group, and Finally…


WTI $66.43 +52c, Brent $72.21 +38c, Diff -$5.78 -14c, NG $2.94 -1c

Oil Price

Oil continued its weak rally yesterday with Total confirming its exit from South Pars as sanctions start to grip in other areas although the mood in Tehran is not entirely pro the regime. Washington signalled that it was prepared to start modest sales (11m barrels) of oil from the SPR ahead of the mid-term elections, sorry the losing of Iranian oil to keep the price down…

Sound Energy

Sound has announced the completion of the entire 2,850 line km 2D seismic in Eastern Morocco. It has enabled the company to increase its understanding of the TAGI play, the deeper Palaeozoic potential and the hydrocarbon charge model. The new seismic has revealed in addition to the existing structures targeted by the planned wells a new, large Palaeozoic structure to the north west of the structural-stratigraphic play. If the hydrocarbon migration converges into this structure then it could emerge as the largest prospect in the entire basin and would become a target for the TE-11 well along with the Palaeozoic play in the Anoual licence.

The company also announces that it has finalised the location for the TE-10 well which will target the North East Lakbir prospect, a high impact TAGI play of some 2.6 TCF mid-case GOIP (1.5 TCF low case, 5 TCF high case) and will drill both the TAGI and the underlying Palaeozoic. These wells which will get underway in Q4 of this year should prove exciting for Sound shareholders who will look for a rewarding campaign. #returntoTendrara

Wood Group

Interims at the upper end of guided range for Wood Group with cost and revenue synergies and strong cash flows helping the deleveraging plan going. Whilst the company see a recovery in the oil and gas market and good contract awards, their full year guidance is unchanged despite synergy gains and good cash generation which is either overly cautious or tangible pricing and margin strength is still eluding them. I suspect the former as they will not want to make the mistake of under-delivering and while there is some evidence of higher industry prices sticking they will want concrete evidence in the second half.

And Finally...

The HubCap Stealers easily saw off the Eagles last night and, whatever Klopp says do look mighty impressive. The Red Devils who do not look impressive have denied any interest in Zidane and expressed confidence in Jose…..

In F1 Red Bull have replaced Danny Ric with Pierre Gasly, only petrol-heads will be able to tell me if that is good news…

And if there is a blog tomorrow (I am away) it would be very surprising if I am still reporting on the test match, save for the result. I still cannot quite believe how swift the turn-round has been but does make for two more exciting tests.



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/2018/08/oil-price-sound-ene...

MalcyMalcy'sMalcy's Blogoil priceSound EnergyWood Group

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