WTI (Feb) $70.99 +39c, Brent (Feb) $73.99 -18c, Diff -$3.00 -57c
USNG (Feb) $3.94 +37c*, UKNG (Feb)** 121.45p +2.45p, TTF (Feb)*** €48.5 +€1.23
*Up 20% on expiry of January contract amid extremely cold weather forecasts for January.
** UKNG Jan contract expired yesterday.
*** TTF Jan contract expired yesterday. 

Oil price

Last day of the month, quarter and year and window dressing is the phrase with traders keeping those level books so as to not leave any risk-on positions out there and also to go into the new year on a strong footing.

What they can’t alter of course is the weather forecast and in the last couple of days there have been some horrendous forecasts suggesting mega freezing conditions in the middle to end of January particularly in the east. Accordingly these forecasts, coming just as the January natural gas contract expired, pushed February sharply higher, over $4 at one stage yesterday.

Zephyr Energy

Further to its announcement on 18 December 2024, Zephyr is pleased to confirm that it has now received US$7.5 million which will fully-fund the expected costs to drill, complete and production test the extended lateral on the State 36-2 LNW-CC-R well.

The Company continues to expect that the drilling operations will commence in mid-January 2025 and will provide further updates as appropriate.

Further good news for Zephyr as the moolah for the State 36-2 well has come in and with the rig ordered and scheduled for a start-up in mid-January it looks like all systems go…

Kistos

Kistos has announced that further to the announcement made on 02 October 2024, James Thomson will assume the position of Chief Financial Officer and become a member of the Board of Directors on 01 January 2025. James succeeds Richard Slape who has held this position since October 2021 and will be stepping down from his Board responsibilities.

James was appointed to Kistos as Deputy CFO in October 2024, facilitating a smooth transition of roles with Richard over the past three months. James is an ACA-qualified accountant and a Fellow of the Institute of Chartered Accountants in England and Wales (ICAEW).

Whilst I don’t always comment on these appointments as a matter of course I am doing so today for two reasons. Firstly the appointment of James Thomson is a first class decision, he will be a highly efficient member of what is already a powerful board.

And secondly I want to place on record my thanks to ‘Slapey’ for his help and kindness over a long period of time in the industry and he has always helped me with matters big or small. I wish him a rewarding and peaceful time in the future and hope that our paths cross one way or other in times to come for a kind, genuine and helpful man.

Challenger Energy Group

Charlestown Energy Partners, LLC has announced a 3.68% stake in Challenger which if I remember correctly is part of the investment via a loan and equity announced back in May and included the CEO of Sintana Energy, Mr Robert Bose joining the CEG board as a Non-ExecutiveDirector. 

The loan has since been converted and Charlestown now have this declared stake in addition to other shares in its stable. The shares look exceptionally cheap on any metrics and with the first farm-out now under its belt, on exceptional terms and with possibly the best partner in the world and much, much more to come CEG is a must have stock for the future.

Original article   l   KeyFacts Energy Industry Directory: Malcy's Blog