Member Info for epiphany121

Yes, and 0.7% makes it sour! That's what I'm saying.

Kraken is classified as Sour and not Sweet. We're just above the 'Sweet' classification threshold

Does it even matter what happens this week? Nothing ever moves up daily or in a straight line, TESLA not withstanding, and days like these lead to space fillers on the MB.

We'll just need to hope that Brent retains the positive edge that it had in December. Fingers crossed.

Aww.. who needs friends when you have Kraken??

P and Hitman,

I'm with you in that I believe there is some premium for Kraken over Brent, but it isn't significant. I've asked IR the question, and if I do get a steer from them, I'll come back to you. The key for us the outperformance in the past few months and that's making a significant difference to FCF we're ultimately generating.

It'll be fabulous if Brent can move on up, even if a little, from these levels and stay there.

Good luck..

Oil off 11, and Gas off 4. Permian's off 6. The trend is still continuing and with WTI back below 60 now, that isn't good for the Shale boys to carry on with large scale drilling and that's what is seen here.

It's been a bad week for Oil - good for us though. Next week should see oil back a few % points..

Good weekend.

Modestus - I'm afraid that won't be true. You'll only need a couple of days of falls and they're then back to the old drum beat.. ;-)

;-) I believe it was Heardy and the (slimy) NH who were pushing Enq on the TLW board. Long had I said that TLW was overvalued and Enq was undervalued, and the sell-side is finally waking up. I do feel for TLW shareholders though and the sell-side is now piling in with their downgrades. JPM upgraded Enquest today and said not to touch TLW in early 2020 till things shake out and all skeletons are out in the open.

Water under the bridge, Squif. There's nothing that a rising SP can't drown out. ;-)

It's good that the market has finally taken notice of ENQ and a serious re-rating is underway. Bodes well for all our portfolios. Will need to keep watching what the shalers are doing and how that impacts production, which in turn impacts Brent.

GLA..

Squif - how can 2020 be Enquest's year? AB is still the CEO and surely this can't be happening for real - the market hates him remember and he needs to go?

https://www.hl.co.uk/shares/shares-search-results/e/enquest-plc-ordinary-5p/broker-forecasts

Good find, P. That's a positive piece of news from the sell-side (finally)!!!

The US shalers were certainly doing it, apparently...

https://oilprice.com/Energy/Energy-General/US-Drillers-Rush-To-Hedge-Production-As-Oil-Prices-Soar.html

Indeed. Not unless the Iraqi militia do any further damage as they've threatened just now...

My prediction - noticing the extent of the DOw futures fall last night after the missile attack, Numpty won't do anything other than cower back down, as any retaliation risks real falls in the Dow and that's his key barometer to getting re-elected this year. ;-)

There's a big short squeeze in PMO's shares, and ARCM is suffering no doubt. Good for PMO holders - the market views them much more favourably than us though, as their execution mishaps have been less than ours. We'll need another one or 2 results announcements with good debt reductions before we're really re-rated into the 40s.

On cue, I suppose. Goldman says...

https://www.oilandgas360.com/goldman-says-oil-rally-likely-shortlived-unless-supply-disrupted/

Moving in now. Brent's off nearly 2 bucks from the highs this morning, but we're holding up OK. Ideally, we don't need a repeat of the price action from September after the Abqaiq attack and will be watching where Brent/WTI trends in the coming days. 65+ is always welcome.

Chilts - if the weather window tomorrow is short, it looks like the next best option for now is next Friday. We'll know from whether IK moves from Aberdeen later tonight.

Yes, Squif. The upside of these recent events, coupled with the de-escalation from the trade war can only mean good news for oil. US exports are booming (Heardy's shale '****' apparently is in great demand worldwide and the US exported circa 4.5 mmbbls/day last week (all-time highs), and Permian's even selling at a buck's premium to WTI) and that means more draw-downs going forwards in the US and that's a positive too for WTI/Brent.

Production growth will be slower in 2020 ans as per STEO's monthly projections, production will linger in the low 13 mmbbls/day number for most of 2020.