• Chariot has started to drill the Dartois prospect onshore Morocco. The well is targeting a different reservoir system and trapping style than the Gaufrette prospect. • The main target at Dartois is estimated to hold 12 bcf of gross prospective resources. Success would de-risk a total of 20 bcf of gross prospective resources (+8 bcf) in the Dartois area. • A rig-less well test would be run in case of success. • Our unrisked NAV for the well is £0.05 per share with a ReNAV of £0.02 per share....
• 1Q24 production had been reported previously. GeoPark held US$151 mm in cash at the end of March. Adjusting for a negative working capital movement of ~US$20 mm in 1Q24, this would have been in line with our forecast. • Gross production at CPO-5 of ~30 mbbl/d continues to be very high. The Cisne 1 exploration well is expected to reach TD by the end of May. GeoPark will then drill another exploration well on the block. • Given the reduced share count following the share buyback resulting from t...
AUCTUS PUBLICATIONS ________________________________________ Arrow Exploration (AXL LN/CN)C; target price of £0.50 per share: Spudding high impact well – Drilling operations have started at the Carrizales Norte B Pad Horizontal Well 1. This is the first horizontal well drilled in the Ubaque on Tapir. Three more horizontal wells will be drilled on the pad. Delivering good flow rates at these wells will be very important for future production growth. Arrow held US$12.4 mm in cash at the beginning ...
We have tactically downgraded the energy sector from Overweight to Neutral (excl. oil services on which we are maintaining our Overweight rating) and dropped Shell Plc from our Large Caps list. The IEA report has accelerated the downswing for the energy sector, which could continue in the days ahead. June will be a better month to come back to the sector. - ...
We have tactically downgraded the energy sector from Overweight to Neutral (excl. oil services on which we are maintaining our Overweight rating) and dropped Shell Plc from our Large Caps list. The IEA report has accelerated the downswing for the energy sector, which could continue in the days ahead. June will be a better month to come back to the sector. - ...
Nous dégradons tactiquement à Neutre le secteur de l’énergie (hors Services Pétroliers sur lesquels nous conservons une opinion Surperformance) et faisons sortir Shell plc de notre liste Large Caps. Le rapport AIE a accéléré la baisse du secteur énergie, qui pourrait se poursuivre dans les jours qui viennent. Juin sera un meilleur mois pour revenir sur le secteur. - ...
Nous dégradons tactiquement à Neutre le secteur de l’énergie (hors Services Pétroliers sur lesquels nous conservons une opinion Surperformance) et faisons sortir Shell plc de notre liste Large Caps. Le rapport AIE a accéléré la baisse du secteur énergie, qui pourrait se poursuivre dans les jours qui viennent. Juin sera un meilleur mois pour revenir sur le secteur. - ...
>IEA adjusts down its demand growth forecasts by 140kb/d to 1.1mb/d - The IEA has just published its monthly report in which it has revised down its demand growth estimates for 2024 by 140kb/d from +1.2mb/d to +1.1mb/d. This revision takes account of the weak demand in Q1 (400kb/d below forecasts) in OECD countries and notably in Europe where it contracted by 70kb/d. For 2025, the IEA is leaving its growth estimates unchanged at +1.2mb/d (to 104.3mb/d) with the assu...
>L’AIE révise en baisse sa croissance de la demande de 140 kb/j à 1.1Mb/j - L’AIE vient de publier son rapport mensuel dans lequel elle abaisse ses estimations de croissance de la demande pour 2024 de 140 kb/j passant ainsi de +1.2 Mb/j à +1.1 Mb/j. Cette révision tient compte d’une demande qui était faible au T1 (400 kb/j en dessous des attentes) dans les pays de l’OCDE et notamment en Europe où elle s’est contractée de 70 kb/j. Pour 2025, l’AIE a maintenu inchangé...
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: ACCIONA, ACCIONA ENERGÍA, CAIXABANK, IAG, NATURGY, TELEFÓNICA. EUROPA: DEUTSCHE TELEKOM, ENI, SIEMENS. Incluido en el informe diario de hoy, y durante toda la campaña de resultados, incorporamos al final una presentación con los resultados destacados en positivo y negativo y previews de Rdos. 1T’24 que se publicarán en España y Europa en los próximos días. Las bolsas siguen de fiesta Nueva jornada de avances, con el Ibex liderando y consolidando má...
BOGOTA, Colombia--(BUSINESS WIRE)-- GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), a leading independent Latin American oil and gas explorer, operator, and consolidator, reports its consolidated financial results for the three-month period ended March 31, 2024 (“First Quarter” or “1Q2024”). A conference call to discuss these financial results will be held on May 16, 2024, at 10:00 am (Eastern Daylight Time). FIRST QUARTER 2024 SUMMARY In 1Q2024, GeoPark delivered $111.5 million Adjusted EBITDA, an Adjusted EBITDA margin of 67%, and $30.2 million net profit that was 15% higher t...
• The main target at Gaufrette (onshore Morocco) was water wet. While the reservoirs were thicker and of better quality than expected with multiple gas shows, the trap did not work and the reservoirs are interpreted to be water bearing. • Given the presence of water in the upper reservoirs at the main target, it was decided not to deepen the well to drill the secondary deeper target. Our ReNAV for the well was £0.02 per share. • The presence of gas and good reservoir quality is a positive for fu...
• GeoPark is acquiring 49.5 mmboe 2P reserves (>90% light oil), 118 mmboe 3C contingent resources and ~5 mmboe unconventional production across four blocks in the oil window of the Vaca Muerta in Argentina from a subsidiary of Mercuria. • The Vaca Muerta in Argentina is a hot spot for unconventional development and a strategic area for most supermajors and YPF. The formation is estimated to hold 16 bn bbl of oil and 300 tcf of natural gas and produces >350 mbbl/d (x4 since 2019). • The asset pa...
BOGOTA, Colombia--(BUSINESS WIRE)-- GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), a leading independent Latin American oil and gas explorer, operator, and consolidator, today announced that it has signed an Asset Purchase Agreement with Phoenix Global Resources (“PGR”), a subsidiary of Mercuria Energy Trading (“Mercuria”), for the acquisition of non-operated working interest (WI) in four adjacent unconventional blocks in the Neuquén Basin in Argentina as follows: a 45% WI in each of the Mata Mora Norte producing block and Mata Mora Sur exploration block, located in Neuquén Provinc...
AUCTUS PUBLICATIONS ________________________________________ GeoPark (GPRK US)C; target price of US$26 per share: More favourable offtake contract in Colombia – GeoPark has signe da new offtake contract with Vitol for a minimum of 20 mbbl/d. The agreement improves GeoPark’s price realizations by US$0.15/bbl vs the current agreement. As part of this transaction, GeoPark will obtain immediate access to committed funding from Vitol for up to US$300 mm, with an option to increase by another US$200 m...
BOGOTA, Colombia--(BUSINESS WIRE)-- GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), a leading independent Latin American oil and gas explorer, operator and consolidator, today announces the execution of an offtake and prepayment agreement with Vitol, one of the world’s leading energy and commodity companies. The offtake agreement provides for GeoPark to sell and deliver to Vitol a minimum of 20,000 bopd of production from the Llanos 34 Block (GeoPark operated, 45% WI). The agreement improves GeoPark’s price realizations by 15 cents (USD) per barrel vs the current agreement, or by ...
• 1Q24 WI production was 21,807 boe/d, in line with our expectations. VAALCO held ~US$113 mm in cash at the end of March, which is also in line. • With the completion of the acquisition of Svenska, the company now expects to produce 23.6-26.5 mboe/d in FY24. This incorporates 2.8-3.1 mboe/d for Cote d’Ivoire (the production expectations for the other assets are unchanged). • The FY24 capex guidance has been increased from US$70-90 mm to US$115-140 mm. It now incorporates (1) the capex for the pr...
Genel Energy PLC (GENL) Genel Energy PLC: Results of AGM 09-May-2024 / 13:00 GMT/BST 9 May 2024 Genel Energy plc Results of Annual General Meeting 9 May 2024 The Annual General Meeting of Genel Energy plc was held today, Thursday, 9 May 2024 and the results of the votes by shareholders are set out below. The number of ordinary shares of £0.10p each in the Company in issue at the date of the meeting was 279,402,863 and each share attracted one vote. The results were as follows: Resolutions For % Against % ...
Genel Energy PLC (GENL) Genel Energy PLC: Trading and operations update 09-May-2024 / 07:00 GMT/BST 9 May 2024 Genel Energy plc Trading and operations update Genel Energy plc ('Genel' or 'the Company') issues the following trading and operations update relating to Q1 2024, ahead of the Company's Annual General Meeting, which is being held today. Paul Weir, Chief Executive of Genel, said: “We have achieved balanced income and expenditure in the first quarter of the year, which is ahead of schedule. Local sales from the Tawke licence have been robust to date, with the sa...
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