Nov 30 2023
Resources
Recent Research
Tullow Oil, Trading update and tender offer
Nov 15 2023
REITS, Hard assets positioned for outperformance
Nov 14 2023
Kenmare, Q3 production report
Oct 12 2023
Kenmare, Refreshing forecasts
Aug 31 2023
Meet your Resources Research team
Tullow Oil
Positive update on bond tender offers
Tullow has released updates on progress with its bond tender offers. The 2026 tender offer has been completed and was slightly increased. The 2025 tender offer is ongoing. So far,...
REITS
Hard assets positioned for outperformance
Yield curves have clearly broken out of their 40-year downtrend. This could signify a secular change in the investment landscape. Commodity-related assets are currently trading close...
Kenmare
Q3 production report
Kenmare’s production in Q3 is in line with our forecasts. The timing of some shipments slipped into Q4 and were also impacted by customer delays. Prices softened in Q3 as expected, and...
Kenmare
Refreshing forecasts
We have updated our Kenmare forecasts following the interim results. Due to the impact of the lightning strike in H1, we have lowered 2023 volume forecasts – which has impacted...
Kenmare
H1 results
Kenmare has reported H1 2023 results that were impacted by a lightning strike. Despite this, EBITDA of $110.4m leaves the company positioned to achieve our full year forecast. Kenmare...
Kenmare
Q2 production update
Kenmare has announced that production in Q2 was impacted by a range of factors including the lingering effects of the lightning strike that occurred in Q1. It has also announced a...
Oil and gas
Fear and loathing
Barryroe has announced that it intends to initiate an orderly wind down of the company, while Tullow Oil has just completed a $100m debt buyback – trading on a P/E of only 1x. The...
Kenmare
Growth profile supported by latest investments
Kenmare outlined plans at its recent Capital Markets Day (CMD) that will drive growth in production volumes capacity. Growth in long-term prices has also increased due to inflation. The...
Barryroe Offshore Energy plc
Lease undertaking update
Barryroe has released a statement saying that it has received a letter from the Department of the Environment, Climate and Communications (DECC) confirming that it cannot grant the...
Kenmare
Capital Markets Day statement
Ahead of its Capital Markets Day later today, Kenmare has released a statement outlining the expected capex associated with relocating WCP A, which is in line with our expectations, as...
