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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.
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
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.
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
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
Companies: 88E RNO TRIN KRM EXR BOOM
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
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
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
Companies: PLL TLG HZM SAV KAV KP2 SVML
SP Angel
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
Shore Capital
Hunting has released its Q1 trading statement, reporting a strong period for OCTG and Subsea, steady growth in Advanced Manufacturing, and a softening in Perforating Systems.
Companies: Hunting PLC
Union Jack announced an operational update on its onshore UK Wressle field and confirmed plans to announce the payment of a cash dividend to shareholders along with the FY23 results in May. Wressle continues to deliver material revenues to the Company, generating positive cash flow and providing it with sufficient cash resources to fund shareholder returns and invest in new development projects.
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