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Proactive Oil & Gas weekly highlights: Diversified Energy Company, Union Jack Oil, Tower Resources, ADM, Scirocco, Hurricane, Kistos, Challenger Energy
It was another active week in the small-cap oil and gas sector.
Diversified Energy Company PLC (LON:DEC) confirmed it has raised US$225mln in a placing and retail offer as it advances its latest acquisition. It will issue 141.5mln new shares at 112p per share.
Proceeds will cover the cost of the newly announced Blackbeard acquisition which sees the company pick up another 820 wells producing 16,000 barrels oil equivalent per day (boepd) in its recently established Central regional focus area (RFA). The deal consideration is US$166mln.
09:00 Sat 08 May 2021
Proactive weekly oil and gas highlights: United Oil & Gas, Bahamas Petroleum, DGOC, Mosman, i3 Energy, JOG, Genel, 88 Energy, Zephyr
It was another active week in the small cap oil and gas sector.
United Oil & Gas PLC (LON:UOG) this week added another new discovery in Egypt after its partner Kuwait Energy submitted a notice of commercial discovery to the authorities. It comes as testing of the ASD-1X exploration well confirmed positive results.
The well encountered the lower Bahariya and Abu Roash C (ARC) reservoirs, and, performed positively in short term testing. In the Lower Bahariya reservoir, the well flowed at a maximum rate of 2,187 barrels oil equivalent per day (boepd) meanwhile the ARC reservoir measured a maximum rate of 1,489 boepd. United highlighted that the headline results exceed the company’s own internal expectations.
Biodiesel Market. The
Global Biodiesel Market Research Report Covers, Future Trends, Size, Share, Past, Present Data and Deep Analysis, And Forecast, 2021-2027. To calculate the market size, the report considers revenue generated from the sales of products under the scope of the report. The report also considers the revenues to be generated from the sales of the product, which is expected to be launched into the market during the forecast period. This well-drafted report involves the current market status, historical data, and prediction outlook.
The top Major Competitive Players are :
Delta American Fuel, Western Dubuque Biodiesel, DuPont, Imperium Renewables, Crimson Renewable Energy, Deerfield Energy, Diversified Energy Corporation, China Biodiesel International Holding, Blue Marble Energy Corp., XL Renewables, ACCIONA Energy, LLC, G
H C Slingsby a tad lower after listing expected post-pandemic issues
A look at Friday s major share movers on the London Stock Exchange
H C Slingsby PLC (LON:SLNG) shed 4% to 225p after expressing caution on this year’s outlook as the market remains competitive.
Whilst the manufacturer s sales grew in 2020 due to demand for Coronavirus-related products, it noted that this will not necessarily continue to be the case, with many orders not repeating.
It has also incurred in significant cost increases for steel, plastic and timber products as well as for shipping, alongside delays in receiving goods, which are expected to remain for the rest of the year and hit margins.