Quick Recap

Frontera – Increased Production, Colombia drilling, Guyana, Midstream domination

United – Egypt success, Jamaica farmout

Petrotal – high netback, production increase, exploration

Why cautious? All these things will keep oil prices down and limit upside.

• CV19 might still be a thing
• US Oil Rig slowly increasing
• OPEC+ disputes

Well, it doesn’t matter for UOG since it’s been pretty much stagnant even though Brent prices rose more than $10. I’m really looking for its Jamaican assets to shine.