Chevron Corp delivered strong financial results in Q2, with the highest reported earnings in over a year. Their Q2 results included special items totaling $235 million, including a remediation charge in the Gulf of Mexico and pension settlement costs and still its adjusted earnings were as high as $3.3 billion or $1.71 per share. The management has lowered their debt levels further in the quarter and is making the most of the rise in the oil prices. The company witnessed a sharp rise in upstream
Companies: Chevron Corporation (CVX:NYSE)Chevron Corporation (CVX:NYS)
Oil edged lower on Friday alongside a broader market decline as the recovery in consumption remains uncertain.
The dip capped a third straight week with New York futures stuck near $52 a barrel. US equities weakened amid lingering concerns
over volatile retail trading. While Johnson & Johnson's Covid-19 vaccine breakthrough allayed some worries about the deterioration
of consumption, it is clear the demand environment remains tepid. Chevron Corp posted a fourth-quarter loss after weak fuel
Companies: CVX EOG HES GTE 88E ADV DEC GTC JOG NOG PANR RBD SAVE SDX TLW VOG LUNE
Chevron (CVX US) buying Noble Energy (NBL US) – Chevron is buying Noble for US$5 bn in shares. Chevron is also assuming Noble’s US$8 bn debt. The premium paid by Chevron on Noble’s share price is only 7% compares to the last trading day before the acquisition was announced.
Touchstone Exploration (TXP LN/CN): Material reserves estimates in Trinidad – Touchstone’s WI 2P reserves at Cascadura are estimated at 45 mmboe (including 234 bcf) with 3P reserves of 73 mmboe (including 381 bcf).
Companies: MAU UKOG REP EQNR NBL TXP CVX
Parex Resources (PXT CN); BUY, C$33.00: 3Q19 results, 2020 guidance roll-out reveals better than anticipated FCF | Chevron (CVX US) (not covered): Exiting Malampaya | Union Jack Oil (UJO LN) (not covered) & Reabold Resources (RBD LN): Upgraded volume estimate in the UK | Genel Energy (GENL LN); Speculative Buy, £3.20: Somaliland farm-out process | Aminex (AEX LN) (not covered) & Solo Oil (SOLO LN): 2020 capex budget in Tanzania
Companies: PXT CVX UJO RBD GENL AEX SCIR
Cabot Energy (CAB LN); Discontinuing coverage | Chevron (CVX US) (not covered) & Equinor (EQNR NO) (not covered): Leave New Zealand exploration | Lundin Petroleum (LUPE SS) (not covered): Discoveries offshore Norway
Companies: CVX LUNE CAB
Chevron (CVX US) (not covered) Acquires Anadarko (APC US) (not covered) | Ascent Resources (AST LN) (not covered): IPPC permit confirmed in Slovenia | Caspian Sunrise (CASP LN) (not covered): Operational update in Kazakhstan – Shallow oil production was 1,658 in March. | Energean Oil & Gas (ENOG LN) (not covered): Discovery in Israel
Companies: CVX CASP ENOG AST
Petrobras (PETR3 BZ) (not covered): 2019-2023 business plan | Phoenix Global Resources (PGR LN) (not covered): Additional funding | Ascent Resources (AST LN) (not covered): Operational update in Slovenia and end of formal sale process | Chevron (CVX US) (not covered): Potential asset sale in Azerbaijan | Eland Oil & Gas (ELA LN) (not covered): Ubima appraisal in Nigeria
Companies: PGR CVX ELA AST
Chevron (CVX US) (not covered): Looking to sell the UK | JKX Oil & Gas (JKX LN) (not covered): Trading update in the Ukraine and Russia | Rockhopper Exploration (RKH LN) (not covered): Operational update in Egypt | SDX Energy (SDX LN)1,6; BUY, £0.80: Appraisal well spudded in Egypt
Companies: CVX JKX RKH SDX
Frontera Energy (FEC CN)1,6; BUY, C$53.00: Strategic acquisition to consolidate Pacific Midstream and reduce future transportation commitments | Chevron (CVX US) (not covered): Not selling Bangladesh | Woodside Petroleum (WPL AU) (not covered): Exploration update in Myanmar | Genel Energy (GENL LN); HOLD, £1.90: 3Q17 operating update
Companies: CVX WPL GENL
PentaNova Energya,c: Initiating coverage on the next South American growth company | Newfield Exploration (NFX US) (not covered): Selling interests in Bohai Bay in China | Zhenhua Oil buying Bangladesh assets from Chevron (CVX US) | Faroe Petroleum (FPM LN)6 ; HOLD, £1.10: Valuation update | Gulf Keystone Petroleum (GKP LN) (not covered): Shaikan crude (Kurdistan) to be exported by trucks only | Oryx Petroleum (OXC CN): Under Review: YE16 Reserves & Resources Report
Companies: CVX FPM GKP FORZ
Green Dragon Gas (GDG LN) (not covered): GIC US$50 mm Convertible Bond Extension | Assets swap between Gazprom and OMV (OMV AG) (not covered) | National Grid selling stake in gas pipe network in the UK | Farm-in deal in Poland | Chevron (CVX US) (not covered): cancells FPSO order for Rosebank in the UK
Companies: G3E OMV CVX
Chevron (CVX US) (not covered): Looking to divest fields in aengladesh. | IGAS Energy (IGAS LN) (not covered): Bond summons for temporary waiver. | Petroneft Resources (PTR LN) (not covered): 3Q16 production Update in Russia. | Genel Energy (GENL LN); SPECULATIVE BUY: £3.50 - DNO (DNO NO) (not covered) announces an operating update in Kurdistan. | SacOil (SAC LN); SPECULATIVE BUY: £0.016 - Settlement agreement on OPL233 in Nigeria. | Tlou Energy (TLOU LN) (not covered): 2P CBM Reserves in Bostwa
Companies: CVX PTR GENL SAC TOU IGAS
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Phoenix copper today announces an update on its deep drilling program below the proposed Empire oxide open pit resource and into the deeper sulphide zone. Phoenix is roughly 1/4 the way through a 4,500m drilling programme and has once again shown that high-grade zones of copper, zinc and lead sulphide mineralisation exist, nearly always associated with gold and/or silver and often with elevated concentrations of tungsten and molybdenum.
Companies: Phoenix Copper Ltd. (United Kingdom)
Friday's market sell off saw some violent downward moves in many stocks with little initial differentiation between sectors or the key drivers of businesses, creating significant share price drops in a number of higher quality or uncorrelated names. We take a look at some stocks we believe have either seen an unwarranted sell-off, have seen weakness go under the radar or where there is now a more attractive opportunity.
Companies: ANX IBPO CYAN SOM EQT AFM
Across a broader market sell off EQTEC have shown resilience and is trading at 1.55p, above its placing in May, up 25% from one month ago.
Companies: EQTEC PLC
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What’s cooking in the IPO kitchen?
Trinistar Liverpool S.a r.L announces its potential listing of a newly formed single asset company which will own the Capital Building in Liverpool on the IPSX. Upon admission the Company would become a real estate investment trust (REIT). The Capital Building occupies close to a 3.5 acre freehold site in the centre of Liverpool’s business district; the building comprises c425,000 square feet of predominantly of
Companies: ADBE ADBE SYM ARC AVCT CMCL CLIN DCTA FRAN OSI
SolGold (“SOLG”) has published the first partial assay results from its drilling programme at the Varela target on the Rio Amarillo concession, 35km from the flagship Cascabel project. Hole 1 has been assayed to a depth of 1,052m, revealing an intercept of 72m @ 2.16 g/t Au from 639.7m, including 24m @ 5.77 g/t Au. More interestingly assay results are pending from 1,052m to 1,708.1m (EOH) where free gold and porphyry mineralisation have been identified. Intersections of porphyry style mineralisa
Companies: SolGold Plc
West Newton planning update
Companies: Union Jack Oil Plc
Trinity has received FDP approval from the Ministry of Energy and Energy Industries (MEEI) for the Phase 1 development of the Galeota licence. The submitted development plan has the potential to add additional peak production of c4,000 bopd; however more recent modelling suggests that intra-year peak production could be significantly higher, up to 7,000 bopd. Whilst the current development concept comprises the installation of a low-cost eight well platform (Echo), we note that Trinity is also w
Companies: Trinity Exploration & Production Plc
European gas prices are never far away from the headlines at the moment, although Parkmead’s results to end-June did not capture this surge in prices – that is yet to come. Parkmead is well placed to benefit from the current strength in European gas prices, while the potential for another commodity super-cycle suggests there is further progress to come on its major GPA oil project. A strong net cash position also puts it in the driving seat for potential acquisitions.
Companies: Parkmead Group PLC
Shanta Gold (AIM: SHG), the East Africa-focused gold producer has today announced a drilling update on its West Kenya Project (WKP) based on its Phase 2 drilling program which aims to infill 17 modelled zones across both Isulu and Bushiangala deposits up to 450-500m below surface. The Company has also reported drilling results from a regional exploration target, Ramula, where assays have been received from the first of 12 holes drilled, as part of the resource drill-out programme, totalling 451m
Companies: Shanta Gold Limited
Atlantic Lithium* (ALL LN) – Shareholders approve demerger of gold assets
Castillo Copper (CCZ LN) – Extension of options to acquire the Litchfield and Picasso lithium projects
Cornish Lithium (Private) – $18m funding package secured from TechMet
Hochschild (HOC LN) – Shares rise as government appears to back away from closure plans
Hummingbird Resources (HUM LN) – Updated mineral reserves extend Yanoflila LOM and delivers maiden estimate at Kouroussa
Phoenix Copper* (PXC LN) – Deep drilli
Companies: HOC HUM PXC PREM CCZ ALL
Q3 2021 results; new Romania drilling planned
Companies: Serinus Energy plc
Initiating Coverage: Price Target 20p
Potential Beyond Tin
AfriTin Mining Limited (ATM) is one of only three listed tin producers in Western markets. It has a large (820km2) land package in Namibia comprising 5 prospective licenses of which the Uis mine is the most advanced and already in production. Near term growth is being delivered with an 80% increase in tin production between 2022 and 2024. However, this is only scratching the surface and there are more than conceptual plans being fo
Companies: AfriTin Mining Ltd.
Last week, as part of Diversified's Capital Markets Day, CEO Rusty Hutson and the Diversified senior leadership team provided investors with an in-depth overview of the Company's strategy and operations, with a specific focus on the Company's Environmental, Social and Governance (ESG) initiatives. Some of the key takeaways include US$15m of additional investment from 2022 on emission reduction activities and equipment. Mid-term plans (2023-2026) include plans to curb Scope 1 methane emissions in
Companies: FO 88E DEC EME GTC TRIN UOG WEN
Q3 2021 results
Companies: Arrow Exploration Corp.
Alien today announces that it has entered into a Binding Heads of Agreement with Platina Resources (ASX:PGM, Mkt. Cap. A$29m) to acquire Platina's 30% interest in the Munni Munni Platinum Group Metals (PGM) Project in Western Australia. This has an established resource (JORC 2004) of 24Mt grading 2.9g/t PGE + gold (2.2Moz PGE). Alien will look to advance the Munni Munni PGM project with its JV partner Artemis Resources (ASX:ARV, Mkt Cap A$110m). The purchase will cost Alien £1.2m (cash of £0.
Companies: Alien Metals Ltd