Malcy"s Oil Report - NBR, THAL

Wednesday, Apr 22 2015 by
2
Malcyquots Oil Report  NBR THAL

WTI $55.26 -$1.12, Brent $62.08 -$1.37, Diff $5.82 -$1.25, NG $2.58 +4c

Oil price

It's a short blog today as news is a bit thin on the ground and I am off to TipTV and then meeting companies.

The oil price has weakened slightly although the differential has narrowed, this morning Brent is down another 50 cents while WTI, having expired overnight has gained about the same. The API inventory stats were again weak, at a time when one might expect some signs of relief from months of stock build there was no pleasant news last night. Indeed against consensus of a build of 2.4m barrels it turned out at plus 5.5m which, if confirmed by the EIA numbers tonight will put further pressure on the system.

Nabors figures last night beat the whisper, again quite comfortably as EPS came in at 20 cents against the consensus of only 4c, maybe analysts over there are being overly cautious even though for Nabors the rig count must be hurting real bad, as they say.

Thalassa Holdings

It is nice to report good news from Thalassa which is a company that long time readers will know that I like a lot. Yesterday they announced that subsidiary WGP Group had won a contract for seismic services to TGS-NOPEC whereby WGP will acquire high resolution 3D data sets in the SE Barents Sea region. Chairman Duncan Soukop said that this would make a meaningful contribution to the top and bottom line and mean a positive underlying profit can be expected for 2015 which is good news.

And finally…

A wet and sticky start in Grenada meant that England inserted the Windies and got off to a good start without totally dominating, they should polish it off today and post a decent total though. The selectors were not brave enough to play the leggie which is a shame…

Last night Bayern Munich turned it on big time, those supporters shouldn't have worried as they beat Porto 6-1. Barca also crept through 2-0, tonight Real play Athletico, interestingly in the last 7 games Real havent won one…

But the real football news last night came at FC United of Manchester as they beat Stourbridge 1-0 to secure promotion out of the Evo-Stik Premiership and are now only a possible two years away from the league itself. Formed when those detestable Glazers arrived in town, the club is run and owned by the…

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Nabors Industries Ltd. owns and operates a land-based drilling rig fleet. The Company is a provider of offshore platform drilling rigs in the United States and multiple international markets. The Company conducts its Drilling & Rig Services business through four segments: U.S. Drilling, Canada Drilling, International Drilling and Rig Services. The Company provides wellbore placement services, drilling software and performance tools, drilling equipment and various technologies throughout the oil and gas markets. The Company's Drilling & Rig Services business comprises land-based and offshore drilling rig operations and other rig services, consisting of equipment manufacturing, rig instrumentation and optimization software. The Company is a provider of directional drilling and measurement while drilling (MWD) systems and services. The Company also provides drilling technology and equipment, and well-site services. more »

NYQ Price
$3.49
Change
-5.7%
Mkt Cap (£m)
1,006
P/E (fwd)
n/a
Yield (fwd)
2.7

Thalassa Holdings Ltd is a holding company. The Company is focused on providing marine geophysical services, autonomous underwater vehicle (AUV) research and development and homeland security and real estate services. Its directly owned subsidiaries in the energy services industry include GO Science Group Ltd (GO), which is an autonomous underwater vehicle research and development company with a subsidiary Autonomous Robotics Limited. more »

LSE Price
81p
Change
 
Mkt Cap (£m)
14.2
P/E (fwd)
n/a
Yield (fwd)
n/a



  Is NYQ:NBR fundamentally strong or weak? Find out More »


2 Comments on this Article show/hide all

janebolacha 22nd Apr '15 1 of 2

Malcolm, I know you contribute articles to "Oil Voice" but may I ask your views on this article from there and, in particular, the chart tracking and comparing the numbers of rigs in operation and the output from US fracking operations:

http://www.oilvoice.com/n/Rising-US-Oil-Supply-And-How-Innovation-Never-Stands-Still/53a820455f35.aspx

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Ramridge 22nd Apr '15 2 of 2

Home from home for the England cricket team in Grenada. Rain and more blinking rain...

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About Malcolm Graham Wood

Malcolm Graham Wood

Malcolm has over 30 years' experience in the Oil & Gas sector and is a widely used media source. He often appears in print and on screen, and also writes an acclaimed daily blog read by much of the resources industry as well as investors both institutional and retail.Malcolm is a Founding Partner of HydroCarbon Capital, which provides independent advisory services to the Oil and Gas sector. He is a Director of the Maven Income and Growth VCT 4 PLC, a venture capital trust listed on the Premium segment of the main market of the London Stock Exchange.He started his career at Wood Mackenzie in 1979. He was an inaugural member of the No 1 Extel rated James Capel Oil & Gas team and also headed up corporate broking, acting for the Government in sales of British Gas, Britoil and other utilities. Subsequently he became Head of Equities and main board Director at Williams de Broe before moving to Teather & Greenwood. Following that, he ran his own consultancy for several years, acting for a number of quoted and private companies as well as being a board member and advisor. He has been a Director at Noble and then Westhouse Securities and has extensive contacts in the Oil & Gas sector globally. More recently Malcolm has been the lead advisor to an HSBC Zurich trust on oil, gas and energy investments as well as working with the oil team at VSA Capital.- See more at: http://www.malcysblog.com/about/#sthash.Jdn1d7dK.d... more »

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