Opinion

Oil price, Plexus Holdings, Links to Premier, SDX and Jersey O&G. And finally…


Oil price

The only news in town is the Saudi/Russian rapprochement and the oil price is rising, albeit slowly as it takes on board the ramifications of the deal. Should it go ahead then the oil price hasn't risen enough although both are about 40 cents better again this morning, clearly a modicum of bear closing. Two things are emerging, both from the bearish camp, who firstly don't see the deal working, primarily as they dont exactly see eye to eye on Middle East politics, and secondly feel that the 1.8m b/d reduction is not enough and that there should be bigger cuts on May 25th. For me a rollover of current rates until March 2018, maybe with a review at the year end meeting would be good enough, a further reduction would certainly push the price a fair bit higher.

Plexus Holdings

A trading update this morning from Plexus, or as we used to call them, a profit warning. It should come as no surprise to market watchers that things remain pretty difficult for service companies like POS but it is important to differentiate the wheat from the chaff so to speak. The company says that the ‘challenging conditions continued in the second half of the financial year' which ends in June '17 and that opportunities are ‘taking longer to conclude'. With a number of potential new contracts I suspect in the pipeline it is wise to flag that they might now slip into the '18 financial year. Having said that, POS has undergone a substantial cost-cutting and restructuring process and has cut back capex substantially which will eventually pay off, this is a top quality company at the forefront of oilfield safety and will come out of the downturn stronger than before.

Link

In yesterday's VOX Markets podcast I talked about Premier Oil, SDX Energy and Jersey Oil & Gas, here is the link.

VOX Markets podcast: Malcy covers Premier Oil, SDX Energy and Jersey Oil & GasAnd finally… 

Last night Chelski, already in possession of the title beat the Hornets 4-3 in a spirited battle at the Bridge. Tonight it's the Gooners hosting the Maccams and the Baggies go to the Noisy Neighbours with the HubCap Stealers watching on hoping for slip-ups for the Champions League spots.

VOX Markets podcast: Malcy covers Premier Oil, SDX Energy and Jersey Oil & Gas


Visit source site

malcysblog.com/2017/05/oil-price-plexus-holdings-l...

Malcy's BlogPlexus HoldingsPremier OilSDX EnergyJersey Oil & Gas

More items from malcy


Oil price, Pantheon, Sundry- Premier-Echo Energy- Wood Group- Providence Resources- And finally…

Oil price With the Opec and Non-Opec meetings due this week, culminating on Thursday with what should be a straightforward  discussion about whether to extend by 6 or 9 months the only change appears to be around deepening the cuts. I suspect that anything of that order will be discussed but proba ...

Malcolm Graham-Wood - Malcy's Blog


Posted 4 days agoOpinion > Malcy's BlogPantheon ResourcesPremier Oil +3

Oil price, SDX Energy, Plexus Holdings, Solo, And finally…

Oil price Bear with me today if you will, I have had a breakdown in communications and am not able to retrieve much in the way of news. The oil price remains firm ahead of next week's meetings, as I write WTI is up another 61 cents and knocking on the door of $50, Brent is up 67c and has cleared ...

Malcolm Graham-Wood - Malcy's Blog


Posted 7 days agoOpinion > Malcy's BlogSDX EnergyPlexus Holdings +1

Oil price, Hurricane, Cairn/FAR, Sound, Tullow, Sundry-Petrofac-Cycles analysis- And finally...

Oil price Another up day yesterday as the market's eyes turned to the EIA inventory stats following the rather disappointing API numbers the night before. Whilst the draw of 1.8m barrels was short of the 2.5m whisper it was enough to keep the bears at a distance. It will be worth watching the net ...

Malcolm Graham-Wood - Malcy's Blog


Posted 8 days agoOpinion > Malcy's BlogHurricane EnergyCairn Energy +4

Oil price, Premier Oil, Echo Energy, Ophir Energy, And finally…

Oil price The edging up of the oil price on friday meant that the week ended up +$1.61 for WTI and +$1.74 for Brent. The best was yet to come as at a meeting in Beijing it seems that the Saudi and Russian Oil Ministers have ‘seen the need to prolong the current deal through the first quarter 2018' ...

Malcolm Graham-Wood - Malcy's Blog


Posted 11 days agoOpinion > Malcy's BlogPremier OilEcho Energy +1

Oil price, Hurricane, President, Sundry-Ithaca-Tower- And finally…

Oil price The oil complex moved higher yesterday as Opec released official production numbers that indicated ‘overcompliance' by its members and despite higher non-Opec supply gave a positive review of the market. With the Kuwaitis adding their two pennyworth in the extend camp the market added ha ...

Malcolm Graham-Wood - Malcy's Blog


Posted 14 days agoOpinion > Malcy's BlogHurricane EnergyPresident Energy +2
All posts from malcy