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Magnolia Pet Share Chat (MAGP)



Share Price: 0.19Bid: 0.00Ask: 0.00Change: 0.00 (0.00%)No Movement on Magnolia Pet
Spread: 0.00Spread as %: 0.00%Open: 0.19High: 0.00Low: 0.00Yesterday’s Close: 0.19


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Guidedog7
Posts: 506
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Price:0.19
Try To Keep Oil Rally Going
Today 07:21
http://seekingalpha.com/article/3971565-u-s-crude-inventories-climb-speculators-try-keep-oil-rally-going

Billy no mates here hopefully something will happen soon so Robsky , jr71 & myself have other shipmates to talk to :)
 
Guidedog7
Posts: 506
Off Topic
Opinion:No Opinion
Price:0.19
Oil jumps on Canadian wildfire
Today 06:56
Oil jumps on Canadian wildfire near oil sand fields, Libyan fighting
By Reuters | Thu, 5th May 2016 - 01:58

By Henning Gloystein

SINGAPORE (Reuters) - Oil prices jumped by more than one percent in early trading on Thursday as a huge wildfire in Canada disrupted its oil sands production, while escalating fighting in Libya threatened the North African nation's output.

International benchmark Brent crude futures were trading at $45.31 (31 pounds) per barrel at 0031 GMT, up 69 cents or 1.6 percent from their last close.

U.S. West Texas Intermediate (WTI) crude futures rose 75 cents, or 1.7 percent, to $44.53.

Traders said that WTI prices were driven up by an uncontrolled wildfire in Canada that disrupted oil production in the province of Alberta.

A massive wildfire has forced the evacuation of all 88,000 people in the western Canadian oil city of Fort McMurray and burned down 1,600 structures, and has the potential to destroy much of the town, authorities said on Wednesday.

With evacuees being told to head north towards Alberta's oil sands fields, production at several facilities has been disrupted, although the decline in output was unclear.

Brent was pushed higher by escalating fighting in Libya.

Libya's already crippled oil production is at risk of further decline from a stand-off between rival eastern and western political factions, which prevented a cargo belonging to trading giant Glencore from loading.

A Tripoli-based oil official warned the country's oil output could fall by 120,000 barrels-per-day (bpd) if the Benghazi-based National Oil Corporation (NOC), set up by the rival eastern government, continues to block tankers loading for Tripoli from the eastern Marsa el-Hariga port.

Investment firm ETF Securities said that unplanned outages within the Organization of the Petroleum Exporting Countries (OPEC), of which Libya is a member, stood above 2 million bpd, the highest in at least five years.

Beyond these disruptions, ETF Securities said market fundamentals were also turning bullish.

"Investor optimism for oil has markedly improved. We believe the gains in price are sustainable and not just driven by speculative gains. We are likely to be in a global oil supply deficit by Q3 2016," said Nitesh Shah, director of commodity strategy at ETF Securities
jr71
Posts: 859
Off Topic
Opinion:No Opinion
Price:0.19
RE: MAGP
Wed 22:41
Evening Robsky

Good result for Continental. Found the link below when looking to see what decline rates in Scoop and Stack are like.
http://www.forbes.com/sites/drillinginfo/2015/11/09/the-scoop-and-the-stack-oklahoma-oil-gas/#6dd68f1049a8

Still didn't find out decline rates but think they lower than Bakken.

Looks like a few more sections sold off on occ website.
Robsky
Posts: 4,044
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Price:0.19
RE: MAGP
Wed 20:22
Hi jr excellent holding mate and great average so well in profit, to rich for me and my mediocre 1/3mil @ .85 still in profit but happy to hold and accumulate, my largest holding is still here at circa 2mil on a stupid average lol.

No news today but Continental hit a cracking well in Blaine " Stack " released Monday 2nd Continental Resources, completed the Compton 1-2-35XH, BHL Section 35-16N-11W, Blaine County for 1,817 BOPD & 4,381 mcfd along with 1434 barrels of water per day in a 10,796' TVD horizontal Mississippi Lime test... another Multi well.

IMHO DYOR
Guidedog7
Posts: 506
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Opinion:No Opinion
Price:0.19
Oil prices stabilise
Wed 06:33
Oil prices stabilise after 6 percent fall since late April
By Reuters | Wed, 4th May 2016 - 02:03

By Henning Gloystein

SINGAPORE (Reuters) - Oil prices stabilized on Wednesday after falling for two straight days on concerns that slowing demand and rising Middle East production would extend a global supply overhang.

International Brent crude futures were trading at $45.10 (31 pounds) per barrel at 0140 GMT, up 13 cents, or 0.3 percent, from their last settlement. Brent has fallen more than 6 percent since April 29.

U.S. West Texas Intermediate (WTI) futures were up 8 cents, or 0.2 percent, at $43.73 a barrel.

The slight price increases followed a more than 6 percent fall since the end of April that was triggered by rising output from the Middle East and renewed signs of economic slowdown in Asia.

"Asia's big markets continue to disappoint: Japan sank further, China relapsed, and India slipped," said Frederic Neumann of HSBC in Hong Kong, adding that exports were "stuck below the waterline" and "local demand looks wobbly, too."

In the United States, the picture was less clear.

U.S. production has fallen from a peak of over 9.6 million barrels per day (bpd) in summer last year to just over 8.9 million bpd currently.

However, the country's crude inventories rose by 1.3 million barrels in the week to April 29 to 539.7 million barrels, according to data from the American Petroleum Institute, enough to meet global demand for almost a week.

Still, strong demand for refined products reduced stockpiles of gasoline, diesel and heating oil.

Thanks to ongoing strong demand and further expectations of U.S. production cuts, BMI Research said on Wednesday that oil prices would likely rise in the short-term.

"We anticipate a strong pullback in non-OPEC supplies. We also expect some support from the U.S. (summer) driving season. Bloated crude stocks will thus unwind in the coming months," BMI said.

"We believe prices will strengthen above $50 per barrel, trading in a range of $50-$60 per barrel until the end of the year," it added.
jr71
Posts: 859
Off Topic
Opinion:No Opinion
Price:0.19
RE: MAGP
Tue 17:23
https://okcountyrecords.com/detail/wa****a/2016-001320/18238024

Looks like 4 more sections sold off.????

Also another two transactions which involve bank snb.

Thinking of topping up here again too. Other ship doing v well. Have an AV of just under .7 and holding just over 4m.
Robsky
Posts: 4,044
Off Topic
Opinion:No Opinion
Price:0.19
View Thread (3)
RE: MAGP
Tue 11:12
Hi jr yes another day closer NFX and Continental are reporting regular fracks , one day I will get ours up I think they will make a big difference to our SP and cash flow, we still have some time before completion IMHO so maybe a top up before then. expecting quicker movement in the dinghy so had a wee top up there today.
jr71
Posts: 859
Off Topic
Opinion:No Opinion
Price:0.19
RE: MAGP
Tue 10:44
Thanks from me too, GD.

Robsky, checking every morning for sympsons. Another day closer I suppose.
Robsky
Posts: 4,044
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Price:0.19
View Thread (2)
MAGP
Tue 10:09
Morning all thanks for the POO updates GD you must be feeling very lonely as one of the few posters on board lol

Although not directly involved we have nice results on two wells that were fracked on 9/2/2016 and 22/1/2016 respectively by Newfield on section 25 Stephens co, Sympsons are getting closer.

STEPHENS COUNTY

Newfield Exploration Mid-con Inc
Woodford(12980): Oil 1055 Gas 2387 Water 2432 Flow
25 2N 4W Hunter 2h-13x, February 16, 2016
HH, OIL, TD: 23630 ft
Lat: 34.62184, Long: -97.56625 API: 35137274450001

Newfield Exploration Mid-con Inc
Woodford(13118): Oil 1245 Gas 3118 Water 741 Flow
25 2N 4W Hunter 3h-13x, February 16, 2016
HH, OIL, TD: 23630 ft
Lat: 34.62173, Long: -97.56625 API: 35137274460002
Guidedog7
Posts: 506
Off Topic
Opinion:No Opinion
Price:0.19
View Thread (2)
Oil prices dip
Tue 06:10
Oil prices dip on rising Middle East supply
By Reuters | Tue, 3rd May 2016 - 01:19

By Henning Gloystein

SINGAPORE (Reuters) - Oil prices dipped in early Asian trading on Tuesday on signs that production in the Middle East is continuing to rise, countering falls in U.S. output and threatening to keep a global supply overhang in place for longer.

The international Brent crude benchmark was trading at $45.68 per barrel at 0100 GMT, down 15 cents from its last close. U.S. West Texas Intermediate (WTI) crude futures were down 6 cents at $44.72 a barrel.

The dips came as Iraq, the second biggest exporter within the Organization of the Petroleum Exporting Countries (OPEC), was the latest OPEC-member to announce its exports were rising, reporting oil shipments from southern fields at an average rate of 3.364 million barrels per day (bpd) in April.

That was higher than the March average of 3.286 million and close to its November record of 3.37 million bpd.

"Energy was weaker. Concerns over rising OPEC supply were raised after Iraq announced it had shipped 3.36 million bpd in April," ANZ bank said on Tuesday.

Production in OPEC's biggest exporter, Saudi Arabia, was 10.15 million bpd in April, but sources have said it may rise to near-records of 10.5 million bpd in coming weeks.

Adding to surging Middle East output is Iran which, relieved of crippling sanctions in January, has increased its exports to almost 2 million bpd currently from little over 1 million bpd at the start of the year, with sales especially to South Korea soaring.

The surging supplies from the Middle East counter falling U.S. output, where production has declined from a peak of around 9.6 million bpd in June 2015, to below 9 million bpd now, according to U.S. Energy Information Administration (EIA) data.

"It was the falling U.S. production that helped lift prices earlier this year, so if a surge in Middle East output now counters the U.S. decline, then we could well be in for another downward correction in oil markets," one trader said.

Crude futures surged by almost a third in April, and they have recovered over 70 percent from decade lows reached in early 2016.

"A weaker dollar, falling U.S. oil production, improving economic data from China, combined with large speculative positions fuelled the rally. Analysts, however, have cautioned that inventories remain high and oversupply persists," Singapore Exchange (SGX) said on Tuesday in its monthly report.




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