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Ecopetrol (EC US) (not covered) to acquire Colombian interest from Chevron (CVX US) (not covered) | Jadestone Energy (JSE LN): HOLD, £0.60; 3Q19 results | Noreco (not covered): 3Q19 results
Companies: Jadestone Energy PLC (JSE:LON)Ecopetrol SA (ECOPETROL:BOG)
Stifel FirstEnergy
Centaurus Energy (CTA CN) (not covered): 3Q19 results in Argentina | Ecopetrol (EC US) (not covered): Increasing spending in Colombia | i3 Energy (I3E LN)1 ; Speculative Buy, £1.50: Well result at Liberator | Longboat Energy (LBE LN) (not covered): Proposed trading on AIM | Wintershall: Dry well in the Norwegian Sea | Regal Petroleum (RPT LN) (not covered): Potential assets acquisition | Regal Petroleum (RPT LN) (not covered): Potential assets acquisition
Companies: GBP ECOPETL ENW I3E
Ecopetrol (EC US) (not covered): Production update in Colombia | Royal Dutch Shell (RDSA/B LN) (not covered): 3Q18 Results | DNO (DNO NO) (not covered): 3Q18 results | Genel Energy (GENL LN); SPEC. BUY, £3.65: Tawke and Peshkabir update | Africa Oil (AOI CN/SS): BUY, C$2.60 & Vitol & Delonex; Acquisition of Petrobras production offshore Nigeria | Tower Resources (TRP LN) (not covered): Cameroon reserves report
Companies: AOI ECOPETL SHEL TRP GENL NK1A
Canacol Energy (CNE CN) (not covered): 2Q18 results | Ecopetrol (EC US) (not covered): 2Q18 results | ENI (ENI IM) (not covered): Dry hole in Vietnam | Condor Petroleum (CPI CN) (not covered): 2Q18 results | Woodside Petroleum (WPL AU) (not covered): Transaction in Bulgaria | Africa Oil (AOI CN/SS): BUY, C$2.30: 2Q18 results | Orca Exploration (ORC.A/B CN) (not covered): 2Q18 results | Savannah Petroleum (SAVP LN) (not covered): Discovery in Niger | Weekly Crude Oil Cut Price direction: sidew
Companies: WDS AOI CNEC ECOPETL CPI SAVE ENI ORC/B
Ecopetrol (EC US) (not covered): 1Q18 results | Repsol (REP SM) (not covered): 1Q18 results | Volga Gas (VGAS LN) (not covered): Production update in Russia
Companies: Ecopetrol SA (ECOPETROL:BOG)Repsol SA (REP:BUE)
Ecopetrol (EC US) (not covered): YE17 reserves in Colombia | Range Resources (RRL LN/RRS AU) (not covered): Operating update | OMV (OMV AG) (not covered): 4Q17 results | SDX Energy (SDX LN)1,6; BUY, £0.60: Drilling results in Morocco | San Leon Energy (SLE LN) (not covered): Low production in Nigeria | Tlou Energy (TLOU LN) (not covered): Reserves increase in Botswana
Companies: OMV TLOU ECOPETL SDX SLE 0KTW
Ecopetrol (EC US) (not covered): 4Q16 results | Genel Energy (GENL LN); SPEC. BUY, £1.50: Payment for KRG export | Victoria Oil & Gas (VOG LN)1; BUY, £1.15: Very good deal in Cameroon | Cairn Energy (CNE LN); HOLD, £2.60: Drilling update in Senegal | Anglo African oil & Gas (AAOG LN) (not covered): New listing on AIM
Companies: ECOPETL CNE VOG GENL
Ecopetrol (EC US) (not covered): Reserves update in Colombia | Sirius Petroleum (SRSP LN) (not covered): Equity placing raising £2 mm & convertible loan facility cancellation
Companies: Ecopetrol SA (ECOPETROL:BOG)Sirius Petroleum (SRSP:LON)
Ecopetrol reported 1Q16 production of 736,600 boe/d (FCC 748,932 boe/d); however, cash flow was stronger at US$856 mm (FCC US$507 mm), due to a reduction in the purchase of hydrocarbons and lower contracted services, maintenance and labour costs. The Company recently announced revised 2016e production guidance of 715,000 boe/d, due to a reduction in capital spending that is now expected to range between US$3.0 and US$3.4 billion. We have reduced our target price to US$8.50 per share, while maint
Companies: Ecopetrol SA
Market Impact: Negative.
Ecopetrol reported 4Q15 production of 761,300 boe/d and cash flow of US$1.3 billion that beat our expectations.
Market Impact: Negative. Ecopetrol reported that 1P reserves decreased 11% to approximately 1.85 billion boe at year-end 2015. Negative reserve revisions due to the lower crude oil price could not be offset by cost optimization and improved efficiencies achieved by the Company. For 2015, total net reserve additions were approximately 15 mmboe, which results in a reserve replacement ratio of 6%. We estimate upstream capital expenditures at approximately US$3.0 billion in 2015e, which implies a ve
We have materially reduced our Brent crude oil price outlook in 2016e, 2017e and future years, which has resulted in a substantial decrease in our cash flow and NAV estimates for most of our companies under research coverage. Companies that are most impacted by the commodity price revision include EnQuest, Pacific Exploration & Production, Premier Oil, and TransGlobe Energy. Companies that are exposed to natural gas prices and/or fixed commodity prices are least impacted, such as Valeura Energy
Companies: 0MDP BNK IAE PXT TXP TGL WZR ECOPETL TLW AMER FPM CPI HBR ENQ CERP PRE GNF GTE
Ecopetrol has announced a 2016 capital program of US$4.8 billion and production guidance of 755,000 boe/d, which is in line with our expectations. FirstEnergy is currently forecasting 2016e capital expenditures of US$4.8 billion and production of 750,000 boe/d. For 2016e, we are forecasting cash flow of approximately US$3.4 billion, which is insufficient to cover capital expenditures of US$4.8 billion and estimated dividends of US$1.9 billion. The cash shortfall of approximately US$3.3 billion i
Market Impact: Neutral. Ecopetrol has announced a 2016 capital program of US$4.8 billion and production guidance of 755,000 boe/d, which is in line with our expectations. FirstEnergy is currently forecasting 2016e capital expenditures of US$4.8 billion and production of 750,000 boe/d.
Research Tree provides access to ongoing research coverage, media content and regulatory news on Ecopetrol SA. We currently have 16 research reports from 1 professional analysts.
Jubilee today reports its Q3 and third quarter operational results from its expanding operations in Zambia (copper) and South Africa (chrome and PGM). South Africa is on a growth trajectory with record chrome production of 409kt in the quarter (Q2 FY2024 381kt) and a monthly record in March of 145kt and production YTD of 1.13Mt (0.94Mt). Jubilee is well underway to its annual target capacity of 2,1Mt/yr especially with the new 300kt/yr chrome plant at Thutse expected to be operational in August
Companies: Jubilee Metals Group PLC
WHIreland
Trinity has announced a c28% reduction to its 2P reserves following a YE23 review. Despite the decrease in the Company’s 2P reserves, Trinity’s core business remains robust, with a reserves/production ratio of >12.5 years at YE23. Whilst there is significant potential for growth within the current portfolio, this will be difficult to unlock from the current balance sheet and we believe further financing will be required. We update our target price to 76p (from 202p), a c85% premium to the curren
Companies: Trinity Exploration & Production Plc
Cavendish
I3 has announced the sale of the majority of its royalty interests in Canada, for US$24.8m cash. This allows the company to fully repay amounts drawn on its debt facility and create a working capital surplus, giving I3 significant additional funding flexibility going forward
Companies: i3 Energy Plc
Zeus Capital
Companies: BILN ELCO NXQ CUSN ATG
• The Nong Yao-13 exploration well in the new Nong Yao D area that was targeting multiple zones has encountered >30 feet of new oil play across several new shallow intervals which have not been produced elsewhere on the concession. These reservoirs are believed to be recurring across the Nong Yao D area. • The drilling result confirms that oil has successfully migrated into this area of the block (a factor that was seen to be a risk in the Nong Yao D area) and open the opportunity for further a
Companies: Valeura Energy Inc.
Auctus Advisors
NextSource is uniquely positioned to build a leading vertically integrated position, ex China, in the supply of Lithium-ion battery anode material which is essential for the Energy Transition. The company is commissioning phase 1 of its world-class Molo graphite mine in Madagascar and is in the final permitting process for its first Battery Anode Facility (BAF) to be located in Mauritius. The company is backed by Vision Blue, established by Sir Mick Davis, former CEO of Xstrata. On our calculat
Companies: NextSource Materials Inc
Capital Access Group
DEC reported FY23 results which were in line with expectations and announced the acquisition of joint venture assets from Oaktree along with an updated capital allocation framework.
Companies: Diversified Energy Company PLC
Dowgate Capital
Companies: 88E RNO TRIN KRM EXR BOOM
Chariot, Energean, Touchstone Exploration, Longboat Energy, Hartshead Resources, BP, Helix Exploration, PetroTal, Pantheon Resources, Caspian Sunrise, Petrofac, DNO ASA, Valeura Energy, Aker BP, Var Energi Source: FactSet, weekly change 08/04/24-12/04/24 Oil rose as Israel braced for a possible attack from Iran, a development that would threaten major disruptions in a region that accounts for a third of the world’s crude output. An assault is expected to come as soon as the next 48 hours, which
Companies: HHR TXP LBE CHAR
CPH2 has released FY23 results with the company completing the period with a slightly lower cash outflow from operations and a higher cash balance than forecast. Looking ahead, with a new and improved technical and engineering team, the company has committed to completing Factory Acceptance Testing of its first MW scale electrolyser, the 0.5MW MFE110, within the next three months. In our view, this will be a major milestone for the company which will demonstrate that its unique technology can be
Companies: Clean Power Hydrogen PLC
Companies: PLL TLG HZM SAV KAV KP2 SVML
SP Angel
Union Jack has released an update on its Wressle asset, reporting maturing production from Wressle-1, alongside progress for significant further development activities on the field going forward.
Companies: Union Jack Oil Plc
Pharos Energy reported FY23 results on 27 March. Group net production of 6,508 boepd (FY22: 7,166 boepd) was in line with guidance, assisted by successful development drilling in Vietnam and exploration successes in Egypt. Pharos’s strong cash generation resulted in a stronger balance sheet, with net debt reduced to US$6.6m (from US$28.9m at the end of 2022) and cash balances totalling US$32.6m. This left the group free to return more cash to shareholders, including a 10% increase in dividends,
Companies: Pharos Energy PLC
Progressive Equity Research
Alien today reports intraday that the Western Australian Government has granted a mining licence for the Hancock iron ore project for a 21-year term. The granting of the mining licence is the latest milestone delivered by Alien as it advances the project towards development and production.
Companies: Alien Metals Ltd
Shore Capital
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