Bahamas Petroleum Share Discussion Threads

[whoppy] 10/4/2019 13:09

Hi Gismo. I am noticing some big trades today. Consistent buys.

[gismo] 10/4/2019 13:02

Afternoon whoopy, yep looking good here at last. Should see another tick up the way it is going. I suppose it will depend on the split %. Dutch Shell, my bet is on them

[whoppy] 10/4/2019 12:59

Good news stories for BPC. Just a matter of time now for farmout. Only questions are who? and how much? I have a feeling deal is subject to final okays and sign off.

[linton78] 10/4/2019 12:48

No problem Litho. One more below which sums up the market quite well. Now is the time for BPC....


Elephant hunt resumes



04/08/2019

Oil and gas companies are hunting the proverbial elephant again. Some of them are, at any rate.

Outside those muddled huddles of people who think hydrocarbon energy will simply vanish, a revival of big-field exploration is welcome news.

The world faces a continuous need for new oil and gas supplies. Under any realistic set of assumptions about demand, production from existing fields will decline naturally faster than overall consumption will fall. Yes, production keeps rising from continuous resources, such as shales, which rely little on discovery in the conventional sense.

But questions remain about how long that growth will last and how rapid it can remain.

NEW SUPPLY NEEDED
More certain is the world’s need for more new oil and gas than unconventional resources will yield, net of depletion. Much of that incremental supply must be discovered.

Until lately, exploration had fallen from favor.

The oil market collapse that began in mid-2014 deprived the risky work of financial sustenance.

Yet even before then, many major oil and gas operators and large independent producers had become wary of exploration.

They were emphasizing capital discipline and cutting investment. Offshore work, especially, suffered a contraction savagely aggravated by the price slump.

And for investors backing the independents historically responsible for most wildcat wells, the attitude toward exploration went from cautious to sour.
All that—well, some of it—is changing.

A Wood Mackenzie analyst in February said exploratory success in 2018 showed discipline likely to continue in 2019. Andrew Latham, vice-president, global exploration, pointed to three “play-opening discoveries” and three giant finds last year.

The play-openers: the Ranger and Hammerhead oil discoveries on ExxonMobil’s Stabroek Block off Guyana and the Dorado oil find by Quadrant Energy and Carnarvon Petroleum in the Roebuck basin off Australia.

The giants: Novatek’s North Obskoye gas discovery off Russia, Eni’s Calypso gas strike off Cyprus, and Hammerhead.

This year, Latin America accounts for a third of the world’s large and giant prospects due drilling and the same proportion of potentially play-opening wells.
“Exceptional reservoirs in Brazil, Guyana, and Mexico will attract the most investment,” Latham said. He also expects “a resurgence in offshore exploration” in southern and western Africa.

This year began with four high-impact discoveries, noted analysts at Westwood in a February report: CNOOC’s Glengorm gas and condensate strike in the UK North Sea, two more strikes on the Stabroek license off Guyana—Haimara and Tilapia—and Total’s Brulpadda gas and condensate find off South Africa.

Resources attributed to the early-year discoveries are more than a fourth of 2018’s full-year total, the report said.

A further 76 high-impact wells were planned for 2019 or being drilled at the time the analysts wrote.

Late in March, another Westwood report pointed out that the first Guyana discovery, Liza in 2015, and last year’s Brulpadda strike had partners that farmed in to the licenses at premiums.

“These high-profile successes for the farmout model should catalyze a recovery in the global farmout market,” Westwood said.

Exploration would benefit from the consequent boost to investment. Outside North America, conventional exploration farmouts fell to a low of 57 in 2016 from 106 in 2014, according to Westwood. They rose to 61 in 2017 and 71 in 2018.

Farmin costs fell as activity fell and, like deal activity, have only partly recovered. The cost to access an offshore drilling opportunity in 2018 was about half its level of 2014 because of lower promotes and well costs.

“Higher oil prices, cheaper deal terms, and recent large farmin discoveries are all positives for the farmout market,” the firm said.

FEWER PARTICIPANTS
An important feature of the exploratory revival is a diminished number of participants. Fewer companies are drilling fewer wells, said Wood Mackenzie’s Latham, who expects few newcomers.

“If anything, the current corporate landscape will continue to narrow,” he said.

[gismo] 10/4/2019 10:13

Morning lith

[lithological heterogeneities] 10/4/2019 09:42

Thx Linton.Good link. Interesting read.

[jack4691] 10/4/2019 09:39

'Bed & ISA ' !!!🤣🤣;🤣🤣🤣 ME Thinks Madame attended the same Businesses School as her Chief Pimp- with his 'Application for Invitation to an AGM " !!⚽️ 917;️⚽️⚽ᥧ9;

[iammrweald] 10/4/2019 09:11

Any frost on that hod this morning gismo? What's it like picking junk stocks all the time? Time 4 ANOTHER top up knife? he he

[gismo] 10/4/2019 08:57

Looks like a bed & ISA to me

[johny cash] 10/4/2019 08:45

What's this then? 400k random buy?

[datait2] 10/4/2019 02:09

why do folk "trust" gismos advice, when she still says ukog will rise and no mention of BPC , despite not being invested in UKOG.

makes for interesting debate??

or maybe she likes lying to all of you? her response to her lying???

plank, you plank lol.

yes ,had a tasty plank at the pub last Monday, it had 5 starters on it, tasty !!

gismo, the game is up, your cloak of deceit has been uncovered , you have been well and truly rumbled and as they say "its time to come clean"

[jack4691] 09/4/2019 19:13

I see that the 'Hoe' is still around lookin for her 'Four Candles' !!! How sad! Rampin here, Rampin there, Rampin everywhere! 🤣🤣🤣🤣9315;🤣ԍ15;

[iammrweald] 09/4/2019 16:38

more lies.should have sold when you was told ukog was another advfn crock,you'd have made a fictional 250k! donkey brain.how that mighty tome coming along??? financial city expert AND also medical messiah! fake....he he

[iammrweald] 09/4/2019 16:38

more lies.should have sold when you was told ukog was another advfn crock,you'd have made a fictional 250k! donkey brain.how that mighty tome coming along??? financial city expert AND also medical messiah! fake....he he

[gismo] 09/4/2019 16:26

I see the brainless planks are still around. What an existence. Love the filter button

[gismo] 09/4/2019 15:53

Thanks for that Linton

[linton78] 09/4/2019 15:35

Barclays report points to five signs offshore is recovering
HOUSTON, Apr. 8
04/08/2019


Five signs that the offshore oil and gas industry is recovering are starting to become clearer, with 2019 seen as a transition year and with offshore embarking on a multiyear trajectory starting in 2020. These were among the findings in a recent research report from Barclays.

The first sign of recovery is that offshore exploration activity and spending is on the rise. Examples abound of major oil companies increasing their exploration activity and spending.

Chevron Corp. raised its 2019 global exploration budget by 18% year-over-year to $1.3 billon. ExxonMobil Corp.’s Mar. 6 Analyst Day slide showed a step up in offshore exploration wells drilled each year during 2017-21 (driven by deepwater activity and LNG) in nearly every offshore region (15 locations specifically called out) with average exploration spending of $2.5 billion/year in 2019-21. BP PLC said it would be doubling its exploration program this year—albeit vs. a “relatively modest program in 2018.” Eni SPA expects to drill 140 exploration wells the next 4 years (or an average of 35 wells/year).

“But it’s not just the majors—it’s the independents, too,” Barclays said.
Hess Corp. raised its 2019 exploration budget by 17% year-over-year to $440 million, most of which is planned for Guyana. Aker BP plans to drill 15 exploration wells this year vs. 10 wells last year with exploration spending up 40% year-over-year to $500 million. Cairn Energy PLC plans to drill at least 7 exploration wells this year, with 3 in shallow water offshore Mexico. Lundin Petroleum Co. plans to drill 15 exploration wells and 2 appraisal wells this year with a $300-million budget. Kosmas plans to drill 6 exploration wells this year.


Five signs that the offshore oil and gas industry is recovering are starting to become clearer, with 2019 seen as a transition year and with offshore embarking on a multiyear trajectory starting in 2020. These were among the findings in a recent research report from Barclays.
The first sign of recovery is that offshore exploration activity and spending is on the rise. Examples abound of major oil companies increasing their exploration activity and spending.
Chevron Corp. raised its 2019 global exploration budget by 18% year-over-year to $1.3 billon. ExxonMobil Corp.’s Mar. 6 Analyst Day slide showed a step up in offshore exploration wells drilled each year during 2017-21 (driven by deepwater activity and LNG) in nearly every offshore region (15 locations specifically called out) with average exploration spending of $2.5 billion/year in 2019-21. BP PLC said it would be doubling its exploration program this year—albeit vs. a “relatively modest program in 2018.” Eni SPA expects to drill 140 exploration wells the next 4 years (or an average of 35 wells/year).

“But it’s not just the majors—it’s the independents, too,” Barclays said.

Hess Corp. raised its 2019 exploration budget by 17% year-over-year to $440 million, most of which is planned for Guyana. Aker BP plans to drill 15 exploration wells this year vs. 10 wells last year with exploration spending up 40% year-over-year to $500 million. Cairn Energy PLC plans to drill at least 7 exploration wells this year, with 3 in shallow water offshore Mexico. Lundin Petroleum Co. plans to drill 15 exploration wells and 2 appraisal wells this year with a $300-million budget. Kosmas plans to drill 6 exploration wells this year.

How smart cementing decisions can boost well productivity and profitability
Depleted formations such as those in the Permian present daunting challenges to achieving top-of-cement targets. This article outlines five critical decisions that can spur effective cementing and completion success.

Secondly, subsea contract awards are surging. Over the last 6 months, 14 subsea awards have been announced by the Big 3 subsea contractors—TechnipFMC, Schlumberger, and Baker Hughes.

Thirdly, the floater rig count is now moving comfortably off the bottom. The contracted floating rig count now stands at 124 rigs vs. 116 at yearend 2018 in a move off the bottom, and this right after the oil price collapse to end the year. Fourthly, the recent US Gulf of Mexico lease sale drew sufficient interest from both majors and smaller independents.
Gulf Lease Sale 252, held on Mar. 20, drew the highest total bids out of the past four lease sales over the past 2 years. A total of 30 operators submitted bids with the Top 5 being Shell ($94 million), Anadarko ($30 million), Equinor ($29 million), Hess ($25 million) and BP ($19 million). Notably, total bids submitted by all other operators aside from the majors and Equinor totaled $114 million in this most recent lease sale, a notable increase vs. the $28 million and $38 million in Lease 249 and Lease 250, respectively.

Lastly, Hess has highlighted the attractiveness of offshore development vs. US shale.

In Hess’ analyst day in March, the company highlighted how attractive offshore economics can be in a side-by-side comparison of Liza Phase 1 and an illustrative development in the Permian basin with the same peak production of 120,000 boe/d.
As shown, not only is total development spending of Liza Phase 1 far lower at just $3.7 billion (vs. $12.8 billion, or 1,500 Permian wells times $8.5 million cost per well), the time to peak production is also shorter at just 3 year (vs. 10+ years) and the service cost environment currently “deflating/flat” (vs. inflating for shale), all resulting in a lower required WTI price to meet the same returns threshold.

“Granted, Guyana is a world-class resource and perhaps the biggest exploration discovery this downturn…so we have to take Hess’ chart with a grain of salt.

Nonetheless, the side-by-side comparison does show just how attractive the economics of a successful offshore development can be,” Barclays said.

[bartender18] 09/4/2019 11:13

Government so out of touch with the people

[datait2] 09/4/2019 08:13

well jack at least the readers of this thread now know what she is really like.

lol. voting up UKOG whilst investing in BPC, you couldnt make it up, stop it, just stop it lol.

[jack4691] 08/4/2019 23:19

Datait2 - Gissy Gal went into BPC on the advice from Filter Boy RayRac! Now she is trying to build up her Fan Club on BPC bb, having failed on the UKOG bb. BTW Ray hold the Guinness Book of Records title for Filters! ✔✔ 004;✔

[linton78] 08/4/2019 22:26

Good read - cheers Whoppy.

[datait2] 08/4/2019 20:24

hey GISMO why are you promoting ukog when you are invested in BPC, love your post 22hrs ago, you love UKOG it seems
Linda Retweeted

Linda
‏

@Linda36758099
22h22 hours ago
More Linda Retweeted MR PROFIT
UKOG with its home grown cheap to extract oil 😁Linda added,
MR PROFIT

MR PROFIT
‏

@profit_is_king
Apr 7
More
Guys, in your opinion which stock do you think will rise from now to end of May?.
Name 1 stock and reason?

hypocrite !!!!!!!!!!

twitter.com/Linda36758099

"always be truthful" you state, me thinks you are not all it seems ??

shiny new dress, oxfam ??

I am a very good assessor of someone and can make observations fast !!!