Energy markets showed mixed signals on August 27, 2026, with WTI crude for October delivery trading at $81.23, down 13 cents, while Brent crude for October settlement stood at $87.84, declining 74 cents. The Brent-WTI spread widened to minus $5.61, down 61 cents. Natural gas futures also displayed mixed performance, with US natural gas for September delivery rising 6 cents to $2.84, UK natural gas advancing 2.21 pence to 159.71 pence, and TTF October contract gaining €0.82 to €65.315.
U.S. Energy Information Administration data released overnight showed refinery utilization rates holding steady at 97.4%, up just 0.2 percent on the week, while crude oil inventories remained relatively flat against analyst expectations of a 600,000 barrel build. Product inventories drew attention, with gasoline declining 2.536 million barrels, nearly in line with whispered estimates of a 3.2 million barrel draw, and distillates declining 2.228 million barrels, significantly higher than the 459,000 barrel estimate.
Jadestone Energy released its unaudited interim financial statements for the six months ended June 30, 2026, reporting production of 15,282 barrels of oil equivalent per day, impacted by unplanned downtime at the Stag field following Cyclone Narelle and planned maintenance activities at the CWLH FPSO. The company reported revenue before hedging of US$261.1 million, representing a 13 percent increase from US$231.0 million in the first half of 2025. However, after including a US$27.1 million hedging charge, revenue after hedging totaled US$234.0 million, a 3 percent increase from US$228.3 million.
Adjusted unit operating costs reached US$37.64 per barrel of oil equivalent, compared to US$26.25 in the prior year period, reflecting lower production and higher repair and maintenance costs. Adjusted EBITDAX totaled US$101.6 million versus US$100.6 million in H1 2025. The company reported a loss after tax of US$4.8 million compared to a profit after tax of US$37.6 million in the prior year, primarily driven by increased production costs.
Net cash generated from operating activities stood at US$97.2 million, significantly higher than US$53.8 million in the same period last year. Jadestone completed a US$200.0 million senior secured bond issue in March 2026 with a maturity date of 2031 and a 12 percent coupon, using proceeds to repay its reserve-based lending facility. The company maintains hedges covering approximately 1.0 million barrels of oil production through December 31, 2026, at an average Dated Brent price of US$72.21 per barrel, with an additional 0.3 million barrels hedged for the first quarter of 2027 at US$80.60 per barrel.
Management guidance remains unchanged from the July 2026 trading statement, with the company targeting production of 16,000 to 18,000 barrels of oil equivalent per day, operating costs of US$260 to 300 million, capital expenditure of US$50 to 80 million, and free cash flow of US$200 to 240 million for the 2025-2027 period. The company maintains plans to restart production at Stag field in Q2 2027 and CWLH around the end of Q3 2026. Arrow Exploration Corp reported Q2 2026 highlights including total oil and natural gas revenue of US$34.2 million, net of royalties, representing a 116 percent increase compared to US$15.9 million in Q2 2025.
Corporate production averaged 4,902 barrels of oil equivalent per day, a 30 percent increase from 3,768 in the year-ago quarter. The company reported adjusted EBITDA of US$25.1 million, a 300 percent increase from US$6.3 million in Q2 2025, with realized corporate operating netbacks of US$63.42 per barrel of oil equivalent. Arrow maintained a cash position of US$28.5 million at the end of Q2 2026 with no debt, while generating operating cash flows of US$15.7 million during the quarter.
The company reported net income of US$10.4 million compared to a loss of US$0.9 million in Q2 2025. During the quarter, Arrow drilled one successful exploration well and two development wells in the Icaco field plus one horizontal development well in the Mateguafa Attic field in the Tapir block. Subsequent to quarter end, the company acquired the Thorsby field in Alberta, Canada, and completed recompletions at two Carrizales Norte wells.
Rockhopper Exploration announced its intention to raise approximately US$180 million through a placing of new ordinary shares at 70 pence per share, representing a 4.9 percent discount to the 30-day volume-weighted average price of 73.58 pence through August 21, 2026. The company also offered an open offer to raise up to approximately US$20 million at the same issue price. Canaccord Genuity and Peel Hunt LLP acted as joint bookrunners for the placement, which remained open through 7:00 a.m.
BST on August 28, 2026. Rockhopper noted that the capital raising will enable the company to participate in the acquisition of its pro-rata share of the OSX-1 acquisition and associated preparatory work for accelerated development of the central development area. The company remains on track for first oil from the Sea Lion project in Q1 2028, with development drilling expected to commence early 2027.
A new NSAI report published on August 26, 2026, showed a US$788 million increase to NPV10 for the company's 2P+2C barrels, with additional exploration drilling planned for the basin. Sintana Energy filed interim financial statements for the three months ended June 30, 2026, which are available on SEDAR+ and the company's website.
Source: malcysblog.com