reports
BW Energy: Substantial oil discovery made on the northern flank of the...
BW Energy: Substantial oil discovery made on the northern flank of the Hibiscus field BW Energy: Substantial oil discovery made on the northern flank of the Hibiscus field BW Energy is pleased to announce a substantial oil discovery with good reservoir quality in the DHIBM-7P pilot well drilled to appraise the northern flank of the Hibiscus field. The Company plans to complete the well as a production well later in 2024. The DHIBM-7P pilot was drilled from the MaBoMo production platform to a total depth of 3,941 metres. The target area is located approximately 1.5 kilometres north...
Parex Resources Inc: 1 director
A director at Parex Resources Inc sold 200,000 shares at 23.260CAD and the significance rating of the trade was 71/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years cl...
- Stephane Foucaud
AUCTUS ON FRIDAY - 17/05/2024
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 ...
TLW TULLOW OIL PLC
GPRK GEOPARK
TXP TOUCHSTONE EXPLORATION
AOI. AFRICA OIL
CASP CASPIAN SUNRISE
CHAR CHARIOT OIL & GAS
MAHA A MAHA ENERGY
GKP GULF KEYSTONE PETROLEUM LTD.
ZPHR ZEPHYR ENERGY
SENX SERINUS ENERGY
TAO TAG OIL LTD
AXL. ARROW EXPLORATION LTD
HBR HARBOUR ENERGY PLC
KIST KISTOS PLC
PLSR CN PULSAR HELIUM INC.
- Stephane Foucaud
Panoro Energy ASA (OSE: PEN): Discovery in Gabon. Reiterating producti...
• The Hibiscus South exploration well on the Dussafu permit has encountered 25 m of pay in an overall hydrocarbon column of 35 m in the Gamba formation. • This discovery could add ~5-6 mmbbl gross recoverable reserves (~1 mmbbl net to Panoro). • The Hibiscus South structure is a separate accumulation with a deeper oil-water contact than the nearby Hibiscus Field. • Importantly, a production well could now be drilled at Hibiscus South and tied to the MaBoMo facility, which would boost the overal...
- Daniel Slater
- Steffen Evjen
- Steffen Evjen
Panoro Energy (Buy, TP: NOK41.00) - Positive prospects
At its Q1 trading update, Panoro Energy reported net production of 9.6kboed, in line with our 9.5kboed forecast. We estimate EBITDA of USD42m (Bloomberg consensus at USD41m) ahead of the Q1 results (due at c07:00 CET on 23 May). We view the recent discovery at Hibiscus South as accretive to our NAV by ~NOK1/share, illustrating the strong prospectivity and commerciality at the Dussafu licence. We reiterate our BUY and NOK41 target price.
- Steffen Evjen
US shale: limited growth expected
Our Q1 survey of the US shale universe showed limited revisions to guidance for 2024, and we still expect muted 2024 production growth of ~4% YOY (+8% YOY in 2023). The companies now expect fewer tailwinds from cost deflation, primarily due to operational efficiencies. Our survey also suggested capex down ~2% YOY, as companies guide for flat activity. For Q1, our universe spent 102% of its operating cash flow, split c50/50 capex and shareholder distributions.
Operational update and launch of up to $10 million share buyback progr...
Gulf Keystone Petroleum Ltd (GKP) Operational update and launch of up to $10 million share buyback programme 13-May-2024 / 07:00 GMT/BST 13 May 2024 Gulf Keystone Petroleum Ltd. (LSE: GKP) (“Gulf Keystone”, “GKP”, “the Group” or “the Company”) Operational update and launch of up to $10 million share buyback programme Gulf Keystone, a leading independent operator and producer in the Kurdistan Region of Iraq, today provides an operational update and is pleased to announce the launch of a share buyback programme of the Company's Common Shares for up to a maximum...
- Steffen Evjen
Weekly news, topics & discussion
Key takeaways from this week are: 1) BlueNord’s Q1 figures were in line with our estimates, and due to technical issues, the Tyra plateau ramp-up was prolonged to mid-Q4 (2024 production guidance reduced from >40kboed to ~35kboed); 2) DNO’s Q1 report showed net production slightly above consensus, and it announced it has acquired stakes in five fields in the Norne area from Vår Energi, adding ~3kboed of net production near-term; and 3) Panoro Energy’s Q1 trading update showed net production of 9...
- Stephane Foucaud
AUCTUS ON FRIDAY - 10/05/2024
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...
GPRK GEOPARK
EGY VAALCO ENERGY INC.
A2PAZ7 TETHYS PETROLEUM
GENL GENEL ENERGY
ENI ENI S.P.A.
PXT PAREX RESOURCES INC.
ALVOF ALVOPETRO ENERGY LTD
SNM SHAMARAN PETROLEUM CORP.
VLE VALEURA ENERGY INC.
DNO DNO ASA CLASS A
FEC FRONTERA ENERGY CORP
BP. BP P.L.C.
DGOC DIVERSIFIED GAS & OIL
CNE CANACOL ENERGY LTD
KOS KOSMOS ENERGY LTD.
TAL PETROTAL (TAL)
HBR HARBOUR ENERGY PLC
PLSR CN PULSAR HELIUM INC.
Parex Resources Announces Voting Results of Shareholders’ Meeting
Parex Resources Announces Voting Results of Shareholders’ Meeting CALGARY, Alberta, May 09, 2024 (GLOBE NEWSWIRE) -- Parex Resources Inc. (“Parex” or the “Company”) (TSX: PXT) is pleased to announce that on May 9, 2024, it held its annual general and special meeting of shareholders (the “Meeting”) and all matters presented for approval have been fully authorized and approved. At the Meeting, shareholders approved the election of nine nominees as directors of Parex to serve until the next annual meeting of shareholders or until their successors are elected or appointed. The results of the...
- Stephane Foucaud
VAALCO Energy (NYSE: EGY): Good quarter. Gearing-up for growth
• 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...
Parex Resources Announces First Quarter Results, First Production at A...
Parex Resources Announces First Quarter Results, First Production at Arauca, and Declaration of Increased Q2 2024 Dividend CALGARY, Alberta, May 08, 2024 (GLOBE NEWSWIRE) -- Parex Resources Inc. (“Parex” or the “Company”) (TSX: PXT) is pleased to announce its financial and operating results for the three-month period ended March 31, 2024, and the declaration of its increased Q2 2024 regular dividend of C$0.385 per share. All amounts herein are in United States Dollars (“USD”) unless otherwise stated. “This year, we have made significant progress in executing our strategy and ...
BW Energy: Hibiscus South pilot well confirms hydrocarbons
BW Energy: Hibiscus South pilot well confirms hydrocarbons BW Energy: Hibiscus South pilot well confirms hydrocarbons BW Energy is pleased to announce that the DHBSM-2P pilot well confirms that the Hibiscus South deposit extends into the northern part of the field with good reservoir quality, increasing reserve estimates. The Company plans to complete the well as a production well later in 2024. The DHBSM-2P pilot was drilled from the MaBoMo production platform to a total depth of 5,130 metres. The target area is located approximately 3.2 kilometres west-northwest of the MaBoMo and was dr...
VAALCO Energy, Inc. Announces First Quarter 2024 Results
VAALCO Energy, Inc. Announces First Quarter 2024 Results HOUSTON, May 07, 2024 (GLOBE NEWSWIRE) -- VAALCO Energy, Inc. (NYSE: EGY, LSE: EGY) ("VAALCO" or the "Company") today reported operational and financial results for the first quarter of 2024. First Quarter 2024 Highlights and Recent Key Items: Closed the accretive all cash acquisition of Svenska Petroleum Exploration AB (“Svenska”) for a net purchase price of $40.2 million; Following the planned shutdown for maintenance in April, the Baobab field is back on production with a current rate in excess of 5,000 VAALCO working interest...
- Steffen Evjen
VAALCO Energy, Inc. Declares Quarterly Dividend
VAALCO Energy, Inc. Declares Quarterly Dividend HOUSTON, May 07, 2024 (GLOBE NEWSWIRE) -- VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) (“VAALCO” or the “Company”) declared its quarterly cash dividend of $0.0625 per share of common stock for the second quarter of 2024 ($0.25 annualized), which is payable on June 21, 2024, to stockholders of record at the close of business on May 17, 2024. Future declarations of quarterly dividends and the establishment of future record and payment dates are subject to approval by the Board of Directors. George Maxwell, VAALCO’s Chief Executive Officer, comme...
Restructuring of ownership in BW Energy Limited and exemption from the...
Restructuring of ownership in BW Energy Limited and exemption from the mandatory offer obligation Restructuring of ownership in BW Energy Limited and exemption from the mandatory offer obligation As previously disclosed, BW Group Limited ("BW Group") currently owns 191,903,110 shares in BW Energy Limited ("BW Energy"), corresponding to 74.38% of the issued and outstanding shares and voting rights in BW Energy. As part of a corporate restructuring, BW Group is planning to separate BW Energy, as an oil & gas exploration business, from the maritime businesses held by BW Group. This will not...
- Steffen Evjen
Weekly news, topics & discussion
This week, we published a note on Aker BP highlighting our growing concerns of sharp cuts to consensus FCF, with capex assumptions beyond 2026 looking far too low to us – we are ~40% below consensus on 2027–2030e FCF. As well as BW Energy’s Q1 trading update revealing net production just below our estimate, it announced a sale & leaseback agreement, which we see as marginally accretive to our NAV. In other news, we believe the Tyra ramp-up will be in focus in BlueNord’s Q1 results, due next week
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