Oil & Gas - Cavendish sector note

88 Energy, PetroTal, Afentra, Diversified Energy, Deltic Energy, BP, Hunting, John Wood Group, Angus Energy, Devon Energy, Aker BP, OKEA ASA, Var Energi, Valeura Energy Source: FactSet, weekly change 08/07/2024-12/07/2024 Oil fell after progress on a cease-fire between Israel and Hamas outweighed signs of rising US crude demand that had propped up prices earlier in the week. West Texas Intermediate retreated 0.5% to settle near $82 a barrel. US President Joe Biden said Friday in a social media p

TENNYSON Morning news – Diversified Energy – Synergistic bolt-on acquisition

SP Angel Morning Energiser: 07/06/24

Norway resumes gas flows to UK

TENNYSON Morning news – Diversified Energy – Oaktree completion

TENNYSON Morning news – Diversified Energy – Closes fresh securitization; Russell 2000 entry

Oil & Gas - Cavendish sector note

Diversified Energy, Hartshead Resources, 88 Energy, bp, Harbour Energy, PetroTal, Genel Energy, Kosmos Energy, Vaalco Energy, John Wood Group, Saudi Arabian Oil Company, Tethys Oil, Orcadian Energy, DNO ASA, Valeura Energy, Panoro Energy Source: FactSet, weekly change 07/05/2024-10/05/2024 Oil edged higher as key technical levels provided a floor for losses while investors digested a mixed US inventories report.  West Texas Intermediate rose 0.3% to settle above $79 a barrel after a monthlong sl

AUCTUS ON FRIDAY - 10/05/2024

AUCTUS PUBLICATIONS ________________________________________ GeoPark (GPRK US)C; target price of US$26 per share: More favourable offtake contract in Colombia – GeoPark has signe da new offtake contract with Vitol for a minimum of 20 mbbl/d. The agreement improves GeoPark’s price realizations by US$0.15/bbl vs the current agreement. As part of this transaction, GeoPark will obtain immediate access to committed funding from Vitol for up to US$300 mm, with an option to increase by another US$200 m

DEC Q1 Trading Update

DEC has reported a Q1 Trading Update that is in line with expectations and we maintain our FY24 estimates.

Morning Note – 10 May 2024

SP Angel Morning Energiser: 09/05/24

Crude prices rise on EIA draw

TENNYSON Morning news – Diversified Energy – Solid Q1s; midstream efficiencies

DEC FY23 Results Update

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.

Oil & Gas - Cavendish sector note

88 Energy, Diversified Energy, Gulf Marine Services, UK Oil & Gas, Deltic Energy, Shell, Criterium Energy, Nostrum Oil & Gas, Angus Energy Source: FactSet, weekly change 02/04/24-05/04/24 Oil held above the $90-a-barrel threshold as escalating tensions in the Middle East prompt a dramatic repricing of geopolitical risks. Fears of a wider region conflict are rising, with Israel increasing preparations for an attack from Iran in retaliation for its strike on the country’s diplomatic compound in Sy

Diversified Energy Company - Annual Results and Synergistic Acquisition

FY23 production was 821MMscfe/d (+1%), with YE23 exit rate production of 775MMscfe/d (-8%). Adjusted EBITDA in 2023 was US$543m (+8%), a 52% adjusted EBITDA margin (+3%). Operating costs fell 3% YoY to US$10.14/boe. DEC has recalibrated its dividend to allow the company to focus its cash flows on continued debt reduction, greater flexibility for alternative capital returns and funding future growth. Additionally, DEC has announced a highly synergistic and accretive acquisition, consolidating its

Morning Note – 4 April 2024

Tlou Energy (TLOU) - Q4 update

Tlou has released its Q4 update, reporting ongoing progress during recent months on its Lesedi CBM gas-to-power project in Botswana, with first electricity sales continuing to be targeted for 2024.

i3 Energy* (I3E LN): Initiation - A solid platform for E&P growth in Canada

i3 Energy is an AIM and TSX-listed oil and gas company with a diversified 20kboe/d production base onshore Canada, which offers UK investors attractive exposure to North American E&P themes. The Company's production growth strategy is sensibly hedged to pivot between acquiring producing assets when commodity prices are low and to invest in its low-risk drilling inventory when prices are high.

i3 Energy - 2024 Guidance: Consolidation for Growth

i3 Energy announced that its 2024 guidance consists of expectations to drill 10.5 net wells (7.6 net wells in Central Alberta, 1.9 net wells in Simonette and 1.0 net wells in the Clearwater play) with 85% of capex allocated to the second half of the year. Total capex expenditure for the year is guided at $US 50.9m. The company indicated that it intends to commence pad drilling of its Montney acreage in Q1 2025 and we perceive the company is bulking up for that significant growth opportunity for

i3 Energy (I3E LN) - Sweet as maple syrup

I3E is a UK and Canada listed E&P company, with a significant producing asset position onshore Canada in Alberta.