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Yes, noted that Chilts. I was on there to check Bumi's price and it's also gone up from 14.5 to 19.5 cents.

However, a word of caution though. #34 only is too early to call a victory. As hitman pointed out, there could've been a day or two production on AK when load 33 finished, given that load was held up because of the weather. Assuming that's the case and a 13 day interval, circA 40 KBOPD rate is nothing to scoff at. Hence, #35 will be key.

Onwards and upwards - both Brent and ENQ...

Morning Chilting & Pelle,

Thanks for the heads-up and that's great news. I can't agree more that with Kraken performing well now, the workovers/maintenance due next quarter to get AK repaired and Brent trending well, ENQ is in a good shape. We'll all talked about this a lot and the best way to insure against an another oil downturn would be via hedges, and I sure hope that ENQ has learnt some lessons from the Q4 Brent debacle and hedge better. There are signs that they are already being proactive, just by the number of additional hedges taken out from Feb to March.

At this time, Futures till end of 2020 are above 65 and that's not a bad floor price to be at. In the coming weeks, I believe the front end will keep getting strongly, Numpty not withstanding. Expect a tweet within the next 2 weeks - this time a bit more threatening, asking OPEC to help.

Now, we just hope that AK will trend well in the coming months before the Q3 shutdown, and continue thereafter. CNE may then write back their reserves write down.

Onto #35 then...

Yes, indeed, Hitman. I'll write to IR to give them my tuppence. I urge you and whoever else to do the same.

Happy Brent watching in the meantime. ;-)

Good weekend all

Lol..Jumped the gun I did, Auson. ;-) 70.02 and came back down - though not as bad as yesterday, when it fell to 69.25 minutes after hitting 70.

Libya has the potential to be a longer duration bullish catalyst for oil, yes. I don't wish ill on them, but there's the possibility indeed

Hit 70 just now, Jan. It's going higher, with or without the rigs to help..

Teasing the 70s...5 cents now..I don't share watch - but I do Brent watch..;-)

Under 10 cents to 70..that's the key number for us. ENQ SP will catch up eventually..;-)

Afternoon Hitman - that's a good thought. Cairn should be talking a bit more by that time on the back of what they're seen in the 2 months since their FY results. Equally, ENQ IR can also provide updates if we keep chasing them, TBH. Just like Pelle got the details yesterday.

70s soon enough - it may just happen today. The stars are aligning well.

Good, solid jobs number with circa 200k addition jobs and that's actually weakened the dollar a bit, which is good for oil. it's not a blockbusters report that could've dent confidence a bit by pushing dollar up. Hopefully, we get to the 70s today or the next week.

Fingers crossed.

The March jobs report MAY just provide the extra viagra that Brent and ENQ need for today. ;-) We'll wait and see

Call it fortuitous, but they did hedge 3 mill barrels in Q1 at 70, and that would provide some cash flow to ENQ in Q1 on the Brent differential (settlement likely on a monthly basis) somewhere between $15 and $20 million in Q1 once these options are settled.

And Q2 is closer to $70 to start with anyway. Hedge more when Brent gets to mid 70s, would be my take.

Morning Auson,

They're not completely erroneous. They're normally circa 50 cents or so above the actual Brent prices and I'm not sure why.

Investing.com (CFD site) also provides real time price updates and that is pretty much in-line with spot Brent. This site even allows you to check historical prices and average Brent price between period X and Y, and is what I use to measure average price for a month/quarter/year.

https://uk.investing.com/commodities/brent-oil-historical-data

Auson,

Brent hit a high of $70.03 today and the numbers that some of the sites you pull them up from, such as 70.40, are incorrect.

If you want a real-time 'real'/'actual' Brent price, this is a good site.

https://markets.businessinsider.com/commodities/oil-price

Brent closed at around 69.35 today.

Brent finally hit the 70 figure for the first time this year...Along with Kraken at circa 40 kbopd now, a double dose of good news.

Make that 11 or 12 days - depending on when she gets there. That's a good 40 kbopd run rate at least.

It's headed there..Great news

Excellent. Thanks, Pelle. So, it is confirmed that Barclays did downgrade today. The positive noise from the email is the confirmation that Kraken has been better with the second train coming back online sometime around or after the FY results were announced.

ENQ should put out an announcement in a few weeks, once a stabilised production is noted. In the meantime, the clear tailwind is Brent at this time.

If that was the case, they clearly succeeded. And the SP is still floundering even though Brent is up today. There was a flood of trading this morning and then it's slowed down. It looks like that lot got some of what they wanted - Panicked PIs selling out.

I doubt that AS would be headed to AK , given that we're under 10 days at this time. I just checked and AS looks headed to offload her cargo first at Kalundborg. Maybe after the offload or Scott Spirit may well be headed there?

That I can't dispute, Pelle. ;-) We're indeed the laughing stock of the whole world and incorrigibly stuck in the past, as we're finding out from all the Brexit shenanigans in the past few months..