The Norwegian Offshore Directorate’s (NOD) preliminary NCS figures for March showed liquids production of 1,972kboed (1.6% above its forecast) and gas production of 351mcm/d (0.4% above its forecast). Overall, production was 4.18mmboed (1.1% above its forecast), flat MOM, but down 4.9% YOY. Company-wise, the February production figures should be well known as most companies have already reported their production figures for Q1.
The recent announcement of the application of trade tariffs by the Trump administration led to a sharp correction in oil prices amidst fears of an economic slowdown as a result of a full-blown trade war. We are adopting a more cautious scenario, with oil prices now expected to reach $ 67/b for 2025, $ 65/b for 2026 and $ 67/b in the longer term. Our 2025-2030 capex scenario has been lowered by 5% and our EPS expectations by 13% on average over 2025-2027, whilst our target prices have been lowere...
La récente annonce de mise en place de droits de douanes par l’administration Trump a entraîné une vive correction des cours du pétrole sur fond de crainte de ralentissement économique à la suite d’une véritable guerre commerciale. Nous adoptons un scenario plus prudent avec un baril désormais attendu respectivement à 67 $ sur2025, 65 $ 2026 et 67 $ sur le LT. Notre scénario de Capex 2025/30 a été abaissé de 5% et nos attentes de BPA de 13% en moyenne sur 2025/27 et nos OC de 10%. Nous privilégi...
We have stress-tested our coverage universe at a USD60/bbl oil price, concluding that most names remain dependent on rising oil prices to warrant upside potential from current share prices. Moreover, unless oil prices move higher, we see increasing risk of cuts in shareholder distributions for Vår Energi and Equinor, while the risk appears lower for Aker BP. Overall, we remain cautious as macro risks remain tilted to the downside. We continue to prefer Aker BP as it screens best on valuation and...
This week, Equinor, Aker BP, and Vår Energi released their Q1 trading updates. Equinor’s realised liquids prices were broadly in line with consensus across all segments. Aker BP reported a modest production beat, 2% above consensus, with realised liquids and gas prices largely as expected. Vår Energi’s Q1 production was 2% below our estimate and consensus, while realised liquids prices met expectations and gas prices exceeded them by 4–11%.
AUCTUS PUBLICATIONS Arrow Exploration (AXL LN/ CN)C; Target price of £0.70 per share: Stable production, 10% cash increase – Net production is currently exceeding 4.5 mboe/d, consistent with January levels. The CN HZ10 well, located in the northern area of the CN field, commenced production on 31 March, delivering 1,183 bbl/d of oil (591 bbl/d net to Arrow) with a 21% water cut from the Ubaque reservoir. The well is in the process of cleaning up, with the water cut gradually decreasing. The CN ...
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.