Bp Share Discussion Threads

[buywell3] 22/4/2020 04:32

OIL june futures trade at around $12

We have just witnessed negative value on the futures that just expired

No space left to put OIL

Demand has evaporated

Don't look like coming back again till buywell says so

Hence a question to all you OILY lovers

BP. has zillions of OIL reserves on its balance sheet

WHAT is the value per barrel that is currently on that balance sheet valuation ?



bet nobody answers


Which means buyers now are clueless of the real Covid-19 OILY situation



IMO dyor

[fardels bear] 21/4/2020 22:17

Nobody likes a smartass.

[buywell3] 21/4/2020 21:45

Look back on buywells posts and you will see buywell has seen this drop coming

$15 OIL predicted months ago

$10 OIL weeks ago

June OIL futures have just gone under $10


dyor

[blueball] 21/4/2020 18:10

Stay in cash.

[fardels bear] 21/4/2020 17:21

Well, I've not bought any. ;)

[waldron] 21/4/2020 17:17

Brent Crude Oil NYMEX 19.04 -25.54%
Gasoline NYMEX 0.60 -17.01%
Natural Gas NYMEX 2.06 +0.73%
WTI 13.13 USD +145 788.89%

FTSE 100
5,641.03 -2.96%
Dow Jones
22,946.27 -2.98%
CAC 40
4,357.46 -3.77%
SBF 120
3,430.03 -3.58%
Euro STOXX 50
2,793.63 -3.73%
DAX
10,249.85 -3.99%
Ftse Mib
16,515.23 -3.22%



Eni
7.96 -5.62%



Total
29.7 -3.79%



Engie
9.22 -2.95%



Bp
293.15 -3.03%

Vodafone
105.86 -4.63%

Royal Dutch Shell A
1,310 -2.46%



Royal Dutch Shell B
1,288 -4.24%

[watfordhornet] 21/4/2020 17:02

Bigger drop than expected today. As said yesterday thought an initial 4-5% drop with children exiting but then gradually back to flat by end of day.Anyone that thinks SA and Russia are not squirming is bonkers. All parties will have to react

[gswredland] 21/4/2020 16:53

I don’t get how it is holding up#9 well either!
Bought some at 292 though and would love to buy more much lower

[jammytass] 21/4/2020 16:44

shell bp merger on cards?

[smurfy2001] 21/4/2020 16:41

How this is holding up no idea.

[ariane] 21/4/2020 11:25

Shell and Aker BP Cancel Maersk Drilling Contracts
by Andreas Exarheas
|
Rigzone Staff
|
Tuesday, April 21, 2020

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email print

Shell and Aker BP Cancel Maersk Drilling Contracts
Maersk Drilling has received notice of early termination of two drilling contracts.

Maersk Drilling has revealed that it has received notice of early termination of two drilling contracts, one with a Shell subsidiary and another with Aker BP.

Shell’s subsidiary BG International Ltd has terminated the contract for the semi-submersible Maersk Developer with immediate effect, according to Maersk Drilling, which revealed that the original end of the contract was expected to be in August.

Aker BP terminated the contract for the jack-up rig Maersk Reacher, Maersk Drilling highlighted. This rig was hired for accommodation services on the Valhall field, with effect from end-April, and the original end of contract was expected to be in October, according to Maersk Drilling.

Maersk Drilling said it expects to receive compensation in the form of early termination fees for both contracts.

“Accordingly, the financial impact of the contract terminations on profitability in 2020 is expected to be limited,” Maersk Drilling said in a company statement posted on its website.

The Maersk Developer is a DSS-21, column-stabilized, dynamically positioned, semi-submersible drilling rig, able to operate in water depths up to 10,000 feet, according to Maersk Drilling’s website. The Maersk Reacher is a 350-foot, Gusto-engineered MSC CJ50 rig in Nordsok compliance with design optimization inputs from Maersk Drilling, Maersk Drilling’s website shows.

Last month, Maersk Drilling announced that it had received a notification from Tullow Ghana Ltd of early termination of the drilling contract for the drillship Maersk Venturer. The rig’s contract, which previously had an expected end date of February 2022, is now expected to end in June.

Maersk Drilling describes itself as a global leader in harsh environment and deepwater drilling. The business traces its origins back to the Danish Underground Consortium, which was established in 1962. In February 2019, A.P. Moller-Maersk initiated a demerger and separate listing of Maersk Drilling.

To contact the author, email [e-mail]

[prambigear] 21/4/2020 10:37

Just bought more @ £2.91
I'll close my eyes and ears now for 6 months or so!

[investor114] 21/4/2020 10:34

Oil stocks not the stocks to be in now... its Bioteck and Pharma looking for a cure for the virus.


4d Pharma(dddd) might be worth a look at but as always DO YOUR OWN RESEARCH.

[hector_p] 21/4/2020 10:31

They are survivors all right as they have many other sides to their business.
BP. will have hedged its crude out to future months and years at better prices than $40!
My general view :
Even so the markets should have further to fall as any early return to " normal" work
in society would be met by a second wave of virus. This virus is even worse than we have thought and most of us have not any immunity. So another month or two indoors I believe. This will hit markets further still.
So where BP. in a month maybe say, 250p.

[ny boy] 21/4/2020 10:02

Just another cycle, prices either up, down or sideways for various periods in history.
Opportunities for everyone to make money on the long or short side, it’s what makes the market. I’ve probably got more cash in the bank than Branson, I offered him £1 for Necar Island but haven’t heard back. These billionaires, are never cash rich, it’s just an illusion really.

[watfordhornet] 21/4/2020 09:43

Well whatever you do be careful following advice on here. Some will have you thinking BP and Shell won't survive.

[simonc5] 21/4/2020 09:01

Good point. And its back up to 290 now.

I'm just wondering when to dip my toes back in but its impossible to predict the bottom really I know .....

[kasamavic] 21/4/2020 08:57

Simon, it's no big deal really, we were down to about 290 yesterday.

[ny boy] 21/4/2020 08:55

Added some more as I am accumulating a £50k holding for a 2-5 year hold, too much noise around, happy to accumulate for the long term. I wouldn’t touch the oil minnows though, they are likely to go bankrupt imo
Also accumulating SAGA, VOD & ASC on pull backs.
Stay patient, stay safe, looking forward to the end of lockdown

[kasamavic] 21/4/2020 08:54

I would think it's better to spend millions turning off the taps or reduce it to a trickle if there's nowhere to put the stuff anyway.

[iggis] 21/4/2020 08:48

Is that so? ???

[simonc5] 21/4/2020 08:22

Wow 5.5% down already