Global energy equity and oil & gas macro analyst

Anish Kapadia

Akap Energy

Equity Bottom-Up

<a href="https://www.smartkarma.com/entities/11539" target="_blank" data-smartkarma-citation="entities:11539:1">Carnarvon Petroleum (CVN AU)</a> has announced a A$50mm equity raise to fund the appraisal of its key Dorado discovery this year and a further exploration well in the area. We discuss why we see Carnarvon's assets as attractive.

Carnarvon Petroleum (CVN AU) has announced a A$50mm equity raise to fund the appraisal of its key Dorado discovery this year and a further exploration well in the area. We discuss why we see Carnarvon's assets as attractive. 

Carnarvon Petroleum (CVN AU) Equity Raise: Opportunity to Get Exposure to Cheap Pre-FID Oil Assets

Global Cross-Asset Energy Analyst, VAC Investments

Aaditya Chintalapati, CFA

Global Cross-Asset Energy Analyst

VAC Investments

Closely following Quadrant's recent significant exploration success at the Dorado well (see our report <a href="https://www.smartkarma.com/insights/global-e-ps-energy-weekly-vol-22" target="_blank" data-smartkarma-citation="insights:23234">Global E&amp;Ps: Energy Weekly Vol. 22</a> for further details) <a href="https://www.smartkarma.com/entities/711" target="_blank" data-smartkarma-citation="entities:711:1">Santos Ltd (STO AU)</a> has announced the acquisition of 100% of the company for a cash consideration of USD 2.15Bn, plus contingent payments relating to the Bedout Basin. The transaction implies c.USD 10/boe of 2P reserves and c.USD 41,300/boepd of daily production, broadly in-line with regional transactions.

Closely following Quadrant's recent significant exploration success at the Dorado well (see our report Global E&amp;Ps: Energy Weekly Vol. 22 for further details) Santos Ltd (STO AU) has announced the acquisition of 100% of the company for a cash consideration of USD 2.15Bn, plus contingent payments relating to the Bedout Basin. The transaction implies c.USD 10/boe of 2P reserves and c.USD 41,300/boepd of daily production, broadly in-line with regional transactions. 

Santos Ltd (STO AU): Quadrant Energy Acquisition Implies USD 10/Boe 2P

Thematic (Sector/Industry)

<h2>Oil Price</h2>A seventh straight weekly drop for Crude Oil prices was seen last week, the longest losing streak in prices since 2015. WTI ended the week at USD 65.93/bbl, with Brent at USD 71.76/bbl, both down c.3% w/w. Continued price weakness was driven by API's estimate of record US Crude Oil (10.7 MMbbls) and NGLs production (4.4 MMbbls) in 2018, combined with modest production growth amongst OPEC countries such as Libya. Elsewhere, despite risks to as much as c.600K - 1.2Mbbls/day of Crude oil…

Oil PriceA seventh straight weekly drop for Crude Oil prices was seen last week, the longest losing streak in prices since 2015. WTI ended the week at USD 65.93/bbl, with Brent at USD 71.76/bbl, both down c.3% w/w. Continued price weakness was driven by API's estimate of record US Crude Oil (10.7 MMbbls) and NGLs production (4.4 MMbbls) in 2018, combined with modest production growth amongst OPEC countries such as Libya. Elsewhere, despite risks to as much as c.600K - 1.2Mbbls/day of Crude oil…

Energy Expert

Thierry Bros, PhD

Thierrybros.com

Brexit negotiations are likely to start soon. Everyone is looking at the consequences on forex and on the UK financial sector. But who could benefit from decorrelation of energy prices between the UK and the EU?Following the policy paper " <a href="https://www.oxfordenergy.org/publications/brexits-impact-gas-markets-brext-security-supply-uk-ireland/" target="_blank">Brexit's impact on gas markets: Brexit and security of supply for the UK and Ireland</a>" just published by Oxford Institute for Energy Studies, this insight looks at the Brexit's impact on energy stocks.As the outcome of Brexit is still unknown, we can only draft…

Brexit negotiations are likely to start soon. Everyone is looking at the consequences on forex and on the UK financial sector. But who could benefit from decorrelation of energy prices between the UK and the EU?Following the policy paper " Brexit's impact on gas markets: Brexit and security of supply for the UK and Ireland" just published by Oxford Institute for Energy Studies, this insight looks at the Brexit's impact on energy stocks.As the outcome of Brexit is still unknown, we can only draft…

FX Strategist

Greg Gibbs

Fundamental analysis of topical themes in FX

Amplifying Global FX Capital

Amplifying Global FX Capital was founded in 2015 and is fully owned by Greg Gibbs. It is a registered company both in Australia and Colorado, USA and is a licensed in Australia to provide financial services.

We are producing a regular trading view orientated macroeconomic analysis of topical themes in global financial markets, with a particular focus on foreign exchange. We invite you to view an “executive summary” of these reports in “AmpGFX Reports” under our “Research” menu.

These reports are drawn from the analysis of Greg Gibbs and inform the capital management he undertakes on behalf of the company. The trading performance is posted periodically on our website. We aim to build our company into both a research and capital management business. We are currently in the planning phase for managing capital for wholesale customers.

Greg Gibbs has spent his working life of more than 26 years in financial markets, beginning in 1989 at the Reserve Bank of Australia, after completing a Bachelor of Economics Degree (Honours) at the Australian National University. He has been a CFA Charterholder since 2005. He has worked in Sydney, Singapore, New York and London for major global banks and presented on foreign exchange markets to major financial institutions and companies around the world, and maintained a high profile in the financial media.

Before Amplifying Global FX Capital, Greg was the Head of Asia Pacific Market Strategy at the Royal Bank of Scotland based Singapore. He now resides in Breckenridge Colorado.

Macroeconomics

Little changed to support the rebound in EUR and weakness in the USD on Thursday.&nbsp; In fact dovish ECB comments and on-message statements from senior Fed members suggest the policy divergence is likely to intensify next month.&nbsp; Eurozone industrial production showed a flat trend in recent quarters and US labour data were firm.&nbsp; Eurozone GDP and US retail sales today in focus. A comparison of CAD and AUD reveal much in common, we see downside pressure persisting for both.&nbsp; Weaker oil prices an immediate threat for CAD.&nbsp; Bank of Canada speech tonight in focus.&nbsp; Australian RBA minutes and wage data next week pose downside risk for the AUD.

Little changed to support the rebound in EUR and weakness in the USD on Thursday.&nbsp; In fact dovish ECB comments and on-message statements from senior Fed members suggest the policy divergence is likely to intensify next month.&nbsp; Eurozone industrial production showed a flat trend in recent quarters and US labour data were firm.&nbsp; Eurozone GDP and US retail sales today in focus. A comparison of CAD and AUD reveal much in common, we see downside pressure persisting for both.&nbsp; Weaker oil prices an immediate threat for CAD.&nbsp; Bank of Canada speech tonight in focus.&nbsp; Australian RBA minutes and wage data next week pose downside risk for the AUD.

Australia

Carnarvon Petroleum Limited operates as a petroleum exploration company. The Company explores and produces oil and gas products. Carnarvon Petroleum serves customers in Australia.

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Carnarvon Petroleum (CVN AU)