Excluding shale and onshore North America, discoveries of Oil & Gas has declined for the fourth year in a row and is at at a 20 year low. Sorry if the article has been posted already. http://www.ft.com/cms/s/0/def8d8f4-b532-11e4-b186-00144feab7de.html
Orchy - jmr1980
Thanks for the posts and links. So overall, that's a year-on-year total drop of 865 rigs. Surely the remaining rigs will also have a decline rate in their production. Include the global cut in capex and other major projects shelved and ones coming offline. I see light at the end of the tunnel and Caza in a decent position to take advantage. Any thoughts
RE: Baker Hughes
still 39% though in a short space of time... already at the anticipated 40% -60% range
Decline rate has slowed past two weeks. http://phx.corporate-ir.net/phoenix.zhtml?c=79687&p=irol-rigcountsoverview http://uk.businessinsider.com/baker-hughes-rig-count-february-27-2015-2?r=US oogle - thanks for posting,
Malcy's blog (Malcom Wood)
for those who dont follow him: I talked about Caza recently regarding the Yorkville note which I am not mad about but the company have given me reasonable confidence that it was the best way of approaching current funding. I am hoping to talk again soon with them about the terminating of the Clayton Williams deal which had looked good but again, in current markets probably needed to be ‘tweaked’ terms-wise which the vendors wouldnt do. More on Caza on Monday I hope. - See more at: http://www.malcysblog.com/2015/02/oil-price-premier-oil-sundry-and-finally/#sthash.PByWBOxm.dpuf
The Rig Zone
There's a good article in the Rig Zone. Says that the cut in shale production has been bigger and faster than anyone expected. They reckon it'll be May/June before it starts to come through, but that it could be steep and fast. Baker Hughes Rig count tomorrow as well. As many have highlighted here recently, Caza could just be positioning itself for better times ahead. http://www.rigzone.com/iPhone/news.asp
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.