Harbour Energy Share Discussion Threads

[back2basics1] 14/5/2024 16:51

“INDONESIA WANTS MUBADALA TO ACCELERATE SOUTH ANDAMAN GAS DEVELOPMENT”

Of course, as these now unquestionably giant discoveries are clearly going to be a massive game changer for Indonesia, all of Asia, and indeed HBR.

[brazilnut1] 14/5/2024 15:52

Luckyjoe
"This will easily be in the £5-£6 range minimum by the year end, it’s currently just way too undervalued IMHO"

Gotta laugh 🤣🤣🤣🤣9315;🤣ԍ15;

[monkeybusiness1] 14/5/2024 08:30

Absolutely “Game Changing” back to back discoveries here, and now clearly talk is of potential for Andaman to easily become another Qatar!

Mubadala Energy makes second “game-changing” natural gas discovery offshore Indonesia

(WO) – Mubadala Energy announced another “substantial” natural gas discovery from the Tangkulo-1 exploration well, drilled in South Andaman, about 65 km offshore North Sumatra, Indonesia. This back-to-back discovery, combined with the company's earlier discovery at Layaran-1, has the potential for over 2 Tcf of gas-in-place and positions South Andaman as one of the world’s most important natural gas plays

The natural gas discovery marks the second deepwater well operated by the company. Tangkulo-1 was drilled to a depth of 3,400 m in 1,200 m water depth, just a few months after another major discovery at the Layaran-1 well, also in South Andaman.

The Tangkulo-1 well encountered 80 m of gas column in a good quality Oligocene sandstone reservoir confirmed through an extensive data gathering campaign that includes obtaining a full core of 72 m, wireline logging, sidewall core, pressure and fluid sampling.

Utilizing a new Drill Stem Test (DST) design, the well successfully flowed 47 MMcfd of excellent gas quality and 1,300 bbl of condensate. Although testing was constrained by testing facilities, the estimated well capacity is 80-100 MMcfd and over 2,000 bbl of condensate.

Mansoor Mohammed Al Hamed, CEO, Mubadala Energy, commented, “When added to our recent success at Layaran-1, this game-changing discovery promises to transform Indonesia’s and Southeast Asia’s energy landscape and demonstrates that South Andaman is one of the world’s most exciting energy plays.

By working with partners and harnessing our world class technical capabilities, I am confident we can realize the full potential of this block, in line with our commitment to support the government’s ambitious development timeframes. This news also strengthens our ability to play a proactive role in the energy transition through our gas biased strategy.”

With an 80% working interest in South Andaman, Mubadala Energy is the largest net acreage holder in the area. In line with company’s gas-biased strategy, Tangkulo-1 is an important pillar in the cluster’s development story, with the discovery unlocking further potential in the southern part of the block and indicating an additional multi-Tcf of prospective natural gas resources in nearby structures.

Mubadala Energy announced its first discovery in the cluster in Dec. 2023. The Layaran-1 exploration well, roughly 100 km offshore Indonesia, successfully flowed over 30 MMcfd of excellent gas quality, according to a company statement.

[pineapple1] 13/5/2024 19:46

Says 22nd May on this...

[milliecusto] 13/5/2024 18:14

When's the divi dropping, thought 10th may

[luckyjoe999] 13/5/2024 11:15

Post from lse bb today:

AlexTrader0
Posts: 224
Price: 307.40
No Opinion
RE: Tangkulo Discovery
Today 11:11

“Outstanding News, an incredibly huge discovery here for Asia, and as stated by others, “now soon to be FTSE 100 HBR is clearly firing on all cylinders”, so thank you HBR team!”

This will easily be in the £5-£6 range minimum by the year end, it’s currently just way too undervalued IMHO.

[mickinvest] 13/5/2024 10:37

The Tangkulo-1 well encountered 80 meters of gas column in a good quality Oligocene sandstone reservoir confirmed through an extensive data gathering campaign that includes obtaining a full core of 72 meters, wireline logging, sidewall core, pressure and fluid sampling. Utilizing a new Drill Stem Test (DST) design, the well successfully flowed 47 mmscf/d of excellent gas quality and 1,300 barrels of condensate. Although testing was constrained by testing facilities, the estimated well capacity is 80-100mmscf/d and over 2,000 barrels of condensate.

[oilretire] 13/5/2024 09:41

Significant gas discovery at Tangkulo, Indonesia13 May 2024 Harbour Energy is pleased to note operator Mubadala Energy's announcement that the Tangkulo-1 exploration well has made a significant discovery on the South Andaman licence (Harbour 20 per cent), offshore North Sumatra, Indonesia. This follows the major discovery at Layaran-1 well on South Andaman in December 2023.  The rig will now move to appraise the Layaran discovery, marking the final well of this exploration and appraisal campaign.

[thecomposer] 10/5/2024 18:24

oilprice.com
Oil Rig Counts Falls as WTI Holds Below $80

The total number of active drilling rigs for oil and gas in the United States fell this week, according to new data that Baker Hughes published on Friday.

The total rig count fell by 2 to 603 this week, compared to 731 rigs this same time last year.

The number of oil rigs fell by 3 this week, after falling by 7 in the week prior. Oil rigs now stand at 496--down by 90 compared to this time last year. The number of gas rigs rose by 1 this week to 103, a loss of 38 active gas rigs from this time last year. Miscellaneous rigs stayed the same at 4.

[bearnecessities33] 10/5/2024 18:05

Biden Raises Oil Price US Is Willing to Pay to Refill Reserves

Energy Department will pay as much as $79.99 (WTI) barrel, up by $1
DOE seeks to refill vault currently sitting near 40-year low

The Biden administration raised the price it’s willing to pay to refill the country’s emergency oil reserves, which have dwindled near the lowest in four decades.

The Energy Department said in a filing that it will pay as much as $79.99 (WTI) a barrel for oil, the first time the administration has set an explicit price ceiling. That’s higher than the previous informal cap of $79 and close to market prices. The DOE has also changed the pricing formula, allowing for potential bidders to better hedge positions.

[luckyjoe999] 10/5/2024 17:50

Post from lse bb today:

Kokomo
Posted in: HBR
Posts: 403
Price: 300.00
Strong Buy
Today 17:32

HBR - Now Even Further Short Reductions!

Always excellent to note, still even further reductions in HBR Short positions as evident once again here today, now this being the FIFTH consecutive/back to back rapid reduction by GLG Partners LP during the months of April and May (3, 4, 5, 16, April 2024 and now also on 09 May 2024).

Let the trend be your friend!

[shaf200] 10/5/2024 16:52

They marched them up the hill and then....

[farmerjohn1] 10/5/2024 12:53

North Sea giant Harbour closes in on £9bn German deal

British companies, one by one, are being plucked off the London stock market by foreign predators.

But two deals suggest the siege is not all one-way traffic.

North Sea producer Harbour Energy is closing in on a near-£9billion takeover in a swoop on most of the oil and gas assets owned by Germany’s Wintershall Dea.

The acquisition, which was announced in December, has now been approved by Germany and Norway and should be completed in the final three months of 2024.

Harbour also said it expects production to double after the deal, making it a major global player.

[onlylongterm9] 10/5/2024 09:55

Proactive Investors 09 May 2024

Harbour Energy ‘on-track̵7; to complete transformational Wintershall deal later this year

Harbour Energy PLC (LSE:HBR) told investors it is on track to complete its transformational acquisition of Wintershall in the fourth quarter of 2024.

The $11.2 billion deal was announced in December and will, when completed, add a catalogue of assets in Norway, Germany, Denmark, Argentina, Mexico, Egypt, Libya and Algeria.

It will create “one of the world’s largest and most geographically diverse” independent oil and gas companies – with a combined production profile of over 500,000 barrels per day.

Significantly for Harbour, which is the largest North Sea independent, it delivers a substantial diversification and eases exposure to the UK’s currently high fiscal regime for oil and gas.

Today’s trading update confirmed Harbour was producing 172,000 barrels oil equivalent per day in the first quarter of 2024. Its operating costs averaged $18 per barrel.

The company estimated $900 million of revenue for the quarter, after hedging for UK prices of $83 per barrel of oil and 69p per therm for gas.

It maintained guidance for capital spending, with first-quarter capex seen at $250 million and full-year spend expected to reach $1.2 billion.

Net debt halved compared to this time last year, reducing to $100 million at the end of March.

Harbour is to pay a final 13 cents per share dividend for 2023, which the company noted was inline with its previously stated plan to payout $200 million for the year. The payment will be paid on 22 May.

In terms of the Wintershall countdown, Harbour noted that it had made significant progress on the various workstreams and approvals required to complete within its timeline.

Notably, it confirmed that it had executed necessary hedging (predominantly for oil) for the anticipated 2025 and 2026 production, in order to de-risk near-term cash flow.

“During the first quarter, we continued to deliver safe and responsible operations, maximize the value of our UK production base and advance our organic growth projects,” Harbour chief executive Linda Cook said in a statement.

“At the same time, we made significant progress towards completion of the Wintershall Dea acquisition which will transform our portfolio and capital structure and support enhanced and sustainable shareholder returns."

[thecomposer] 10/5/2024 08:39

Excellent Investor Presentation (May 2024) by HBR team clearly highlighting both the Outstanding progress made and enormous potential ahead here going forward:



IMHO, we should very easily reach £5+ by Q4 if everything goes as planned/scheduled, GLA.

[llef] 09/5/2024 16:33

@MickinVest,

I think you must be right re the mistake.
Last update I saw said that Harbour had hedged 50% of this years' gas output at 67p.
So so get a post-hedging price of 49p, would imply they sold 50% of output at 30p or so, which seems impossible.

69p would seem to be right.

[mickinvest] 09/5/2024 09:40

Is there a major mistake in the RNS?

§ Estimated revenue of c.$0.9 billion with realised, post-hedging oil and UK gas prices of $83/bbl and 49 pence/therm

Presentation states $83 oil and 69p/therm which seems more realistic?

[oilretire] 09/5/2024 07:54

Take over ticking along nicely and divvy up a cent.Acquisition of Wintershall Dea Asset Portfolio on track to complete in Q4 2024Harbour has made significant progress on the various workstreams and approvals required to complete the acquisition of the Wintershall Dea asset portfolio (the "Acquisition"). § All regulatory, anti-trust and foreign direct investment approvals required for completion continue to progress as planned, including:- Clearance received from the Federal Ministry of Economics and Climate Action in Germany, which satisfies the German foreign direct investment closing condition- Consent received from the Norwegian Ministry of Energy§ Prospectus and shareholder circular expected to be published later this month with the shareholder meeting to approve the Acquisition anticipated to take place in June

[cashisking76] 08/5/2024 16:24

Carbon Capture And Storage Market Size Expected to Reach USD 14.76 Billion by 2030 With CAGR: 15% As Revealed In New Report

[dd776] 07/5/2024 10:39

After BP.Waiting for positive news at AGM.Could be the usual wet blanket.

[spawny100] 26/4/2024 10:05

I like this from the other board. Makes sense. A hint that the deal is nearly done?"RE: CEO PurchaseToday 07:3886055 on an old calculator is Bboss.She's sending a clear message that she's the Boss ?"

[luckyjoe999] 26/4/2024 09:53

Post from lse bb today:

theancientmarine
Posted in: HBR
Posts: 123
Price: 287.20
No Opinion
RE: Fantastic RNS! HBR CEO/Linda C. Buying More Shares Here & Clearly has Major Skin in the Game
Today 07:51

Shorts Closing CONSECUTIVELY, HBR Director's Buying CONSECUTIVELY, and as for today, Linda adding a further ~£250,000 worth of HBR shares to her already massive portfolio (even by CEO standards!) with Brent nicely trading at circa $90, now looking forward to the upcoming company AGM followed by the ~500,000+ bpd resulting Wintershall Dea mega merger by Q4 this very year!