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AUCTUS PUBLICATIONS ________________________________________ Arrow Exploration (AXL LN/CN)C; target price of £0.50 per share: Zone at Carrizales Norte with no booked reserves has flowed >1 mbbl/d – The Ubaque horizon at the Carrizales Norte-1 (CN-1) exploration well was put on three tests, the last of which tested at 1,134 bbl/d of 13.5 API oil on pump. The flow rate was stabilized with a 28.3% water cut (completion fluid). The water cut has been decreasing throughout testing. This is a very go
Companies: EQNR TCFF COP AXL SOU ITH TAL BP/ EME TRIN LBE UOG CEG EQNR GTE VLE COP KIST
Auctus Advisors
ConocoPhillips had a mixed result in the last quarter as the company was able to surpass the revenue expectations of Wall Street given its diversified and deep portfolio. However, it fell slightly short of the earnings expectations of analysts. From a portfolio perspective, the company’s deep asset base is very well-positioned to generate solid cash flow and has generated a high return on capital. Like other oil and gas majors, it has worked towards minimizing the ESG risk and advanced its net z
Companies: ConocoPhillips (COP:NYSE)ConocoPhillips (COP:NYS)
Baptista Research
ConocoPhillips’ stock has continued its phenomenal bull run and continues to reach new highs as the company delivered a solid third quarter result surpassing Wall Street expectations in terms of revenues as well as earnings. However, inflation and supply chain constraints continue across the company. This is especially true for U.S. shale, where the rate of production increase across the board is being constrained by quickly rising costs and an exceedingly constrained supply. The company is well
AUCTUS PUBLICATIONS ________________________________________ Longboat Energy (LBE LN)C; Target price of £1.25 per share: Copernicus is dry - The Copernicus exploration well on licence PL1017 was dry. The well failed to encounter any effective reservoir. This was a high risk well. Drilling was much quicker than anticipated. As a result, the cost of the well was materially under budget, suggesting that the balance sheet of the company could be stronger than our current assumption. We reduce our ta
Companies: EQNR COP COPL TLW SQZ PHAR DELT UJO SOU RBD UKOG I3E ZPHR LBE STAR SNM EQNR COP
ConocoPhillips has had a dream run with its stock price climbing along with the rising oil prices. The company delivered yet another all-around beat and also announced that it has initiated its oil production at the company’s Fiord West Kuparul reservoir in Alaska. Among key updates, ConocoPhillips passed into an HOA with Sempera for a probable investment in the LNG project Port Arthur that is currently underway. Applying the severe OGMP.2.0 reporting standards that incorporate third-party verif
Companies: ConocoPhillips (COP:NYS)ConocoPhillips (0QZA:LON)
AUCTUS PUBLICATIONS ________________________________________ Panoro Energy (PEN NO)C; Target price of NOK50 per share: Closing the Nigeria chapter and dividend in specie – The divestment of Nigeria has been completed. Panoro will receive 96.6 mm shares or 6.78% of PetroNor (US$10 mm). The shares will be distributed to Panoro’s shareholders as a dividend in specie, and represents the first dividend payment to Panoro’s shareholders. In addition, Panoro is entitled a ~US$16.7 mm contingent payment
Companies: CZA DETNOR BLOK AKRBP DME PXT TLW PEN SQZ SOU TETY WEN GTE PEN SEPLAT 0GEA 0A1V COP 0QZA EGY
AUCTUS PUBLICATIONS ________________________________________ Arrow Exploration (AXL LN/CN)C; Target price of £0.45 per share: Positive drilling results at RCS-1 could add further reserves - The RCS-1 well (the second well drilled by Arrow in Colombia this year) has encountered >55 feet of total net pay across six separate oil-bearing reservoirs in the C7, the Gacheta and the Ubaque, between 7,077 feet and 8,105 feet. No reserves were allocated to the Ubaque, C7 and one of the Gacheta sands. Thes
Companies: HHR ALV ALV AXL JSE SOU REP TLW SQZ CASP CNE SOU UKOG SDX LBE SAVE REP1 GTE CNE ENI STL EQNR COP 0QZA EGY ENI
ConocoPhillips has had a phenomenal run after the rise in crude oil prices and has more than doubled in value over the past couple of quarters. Its recent results were also exceeding the management's expectations as the company generated $7 billion in cash from operations, excluding working capital, across the rest of their global portfolio. They also successfully integrated the Shell Permian assets and efficiently and safely delivered their capital scope globally. With the sale of ConocoPhillip
Crude oil prices have continued to rise and ConocoPhillips has been a huge beneficiary of the same. Even with the current geopolitical tensions in Ukraine, the macro for crude oil has only improved and ConocoPhillips’ 2022 prospects already look bright. Its global operating performance was outstanding in 2021 and the management completed two significant, highly accretive acquisitions in the Permian Basin. Moreover, they produced 1.6 million barrels per day at GMT2 in Alaska, the third Montney we
AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU) C; Target price of A$0.040 per share: Raising new equity to advance Austrian projects -ADX has raised A$2.8 mm of new equity via a placement priced at A$0.01 per share. As part of the placement investors received one unlisted option for every two new placement shares with a strike price of A$0.015 per share and an expiry date by 30/06/2022. The proceeds from the funding will be used for (1) ongoing feasibility wor
Companies: ADX CE1 ALV ALV RHC RHC TXP TAL SQZ ECHO TETY GENL GTE TTE CNE STL EQNR 0A1V COP 0QZA
ConocoPhillips has arrived at the target price from our previous report as the company experienced an outstanding quarter with amazing financial and operating results. Since 2020, the company has been incorporating Concho, improving underlying metrics across the board, and building the most competitive E&P for the energy transition. The importance of this quarter's performance is that it embodies ConocoPhillips' post-Concho go-forward baseline. The integration is essentially complete on a run-ra
AUCTUS PUBLICATIONS ________________________________________ Calima Energy (CE1 AU)C; Target of A$0.75 per share: Good production performance – Production in August was 3,493 boe/d, up 200 boe/d compared to July as all the new wells at Brooks now contribute to production, more than offsetting natural decline. Financials for August are broadly in line with our expectations. The three new Thorsby wells drilled in August and September could be on stream for November with an individual IP rate of ~2
Companies: CE1 ALV ALV TXP SHEL EDR IOG TETY 0A1V COP 0QZA
ConocoPhillips had one of its best quarters in recent times as the company produced an all-around beat with nearly double the profitability on a sequential quarter-on-quarter basis. The company has nearly tripled its output to about 1.547 million barrels of oil equivalent (boe) per day during Q2, up from 566,000 boe per day from the corresponding quarter of 2020. There has been a strong recovery in fuel demand as compared to the pandemic-forced slump in 2020 and also, a sharp recovery in crude o
Upstream behemoth, ConocoPhillips has been a favorite among investors after the big announcement of resuming share buybacks worth $1.5 billion each year. The company’s stock price has been on a roll fuelled by the rally in crude oil prices and the management has been delivering strong cash flows from operations. To further augment the cash situation, the management intends to divest its 10% stake in Cenovus Energy and fund the buybacks. Despite the increasingly new forms of alternative energy su
Companies: P COPH 1COP 0QZA
Research Tree provides access to ongoing research coverage, media content and regulatory news on ConocoPhillips. We currently have 0 research reports from 5 professional analysts.
i3 Energy has announced that it has refinanced its Trafigura straight-line amortising facility with a traditional RBL facility provided by a Canadian chartered bank. We believe that i3 Energy's shareholders stand to benefit considerably from the restructured balance sheet because it is significantly better adapted to the company's needs, in our opinion. We believe the new RBL facility will free funds for growth and provide better long-term balance sheet stability, while significantly reducing in
Companies: i3 Energy Plc
WHIreland
i3 has announced a refinancing of its C$75m Trafigura debt facility, increasing liquidity for the company to pursue further growth initiatives. i3 has also announced its end 2023 reserves update, showing significant replacement of production during the year.
Zeus Capital
Diversified Energy, Touchstone Exploration, Savannah Energy, Chariot, Plexus Holdings, Energean, Gulf Keystone Petroleum, PetroTal Corp, Ithaca Energy, Pantheon Resources, Serinus Energy, Angus Energy, Aker BP, Equinor, BlueNord ASA, Invictus Energy Source: FactSet, weekly change 18/03/24-22/03/24 Oil edged lower to settle below $81 a barrel after a stronger dollar curbed investor appetite for commodities, offsetting signs of a tighter global crude market. Refined product supplies are looking m
Companies: TXP POS SAVE DEC CHAR
Cavendish
Since November, the JOG share price has moderated from a high of 250p to current levels of 149.5p. This is despite JOG having now made significant progress towards FID on its c.70mmboe Buchan project, with FID upcoming later this year. In our view this share price move is unjustified, with current levels further enhancing the value on offer, and making an attractive opportunity for investors.
Companies: Jersey Oil & Gas PLC
Companies: Good Energy Group PLC
Canaccord Genuity
Results demonstrate Bretana cash flows that allow growth CAPEX and dividends. PetroTal has produced a solid set of 2023 results. These show the cash flow generating capability of the company’s Bretana field in Peru, which enables PetroTal to both expend growth CAPEX while also making material returns to shareholders.
Companies: PetroTal Corp.
Companies: FOG PEB KBT EMR TIME GETB JNEO
The company's business structure is evolving and diversifying into several compelling and complementary businesses. The opportunistic, potential sale of its producing shallow assets would represent a significant change and the company's openness to realise value from that sale speaks to the company's prioritisation of shareholder interests and shareholder value creation. The current year will be significant for many of the company's growth businesses as they establish their first significant com
Companies: Caspian Sunrise PLC
Central Asia Metals (CAML LN) reported full year earnings with net revenue of US$197m down 12% YoY (-1% against VSA estimate) owing to lower commodity prices and modestly lower output albeit comfortably within guidance. EBITDA of US$97m was down 27% YoY marginally below our estimate as the lower top line combined with inflationary pressure. However, group COGS ex-D&A increased 8% YoY, far lower than in-country inflation. A flagged increase in taxation in Kazakhstan meant that net income was US$3
Companies: Central Asia Metals Plc
VSA Capital
• FY23 production, YE23 net cash and YE23 reserves and resources had been reported previously. • The FY24 production guidance of 21.5-24.5 mbbl/d with US$205-235 mm opex and US$135-155 mm capex has been re-iterated. • Current production continues to be high, with average production for the first half of March of ~23,000 bbl/d, including ~7.9 mbbl/d for Jasmine, 7.2 mbbl/d for Nong Yao, 2.9 bbl/d for Manora and 4.9 mbbl/d for Wassana. Production at Wassana is particularly high. • Valeura will als
Companies: Valeura Energy Inc.
Companies: Diversified Energy Company PLC
Tennyson Securities
Companies: FOG TND BVXP ACC HDD
• YE23 2P reserves were estimated at 11.8 mmboe, including 0.7 mmboe for Canada and 4.6 mmboe non-core, leaving 6.5 mmboe for the company’s core Colombian assets. This compares with 2.1 mmbbl at YE23 plus 3.9 mmbbl for Carrizales Norte reported in September for a total of 6 mmbbl. Adding back 0.6 mmbbl (net) produced at Tapir in 2023 suggests that Arrow has added 1.1 mmbbl at its core Colombian assets since the latest reserve reports (September 2023 for Carrizales Norte and YE23 for the other a
Companies: Arrow Exploration Corp.
Companies: PMG DUKE CMCL BOOM
Companies: Zephyr Energy PLC
Turner Pope Investments
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