Enquest Share Discussion Threads

[harry rags] 03/6/2019 05:36

For 2019, the Group has continued to enter hedges with the total for the year now c.12.5 MMbbls. Around 5.4 MMbbls with a floor price of c.$66/bbl had settled by the end of April. For the remaining eight months of 2019, approximately 6.2 MMbbls are hedged at an average floor price of c.$66/bbl, with a further 0.9 MMbbls hedged with an average floor price of c.$56/bbl in accordance with the Oz Management facility agreementLooks like a wise move

[andypop1] 02/6/2019 23:13

US crude oil stocks have only increased by 26m barrels compared to a year ago yet they are pumping an incredible 1.5m barrels a day more than they were a year ago.

The above data should be proof enough for anybody that there is a market for shale oil despite what gets posted on these boards.

And don't forget WTI is a benchmark, shale oil sells at a varying discount to WTI.

Just last week the US was a net exporter of 2.6m barrels.

Both WTI and Brent have opened down, was Friday's gravity defying performance down to AB buying a few more?

Good luck in the morning.

[stansmith3] 02/6/2019 22:53

from nick hurst...New poll shows 52% of Northern Irish voters would vote for a United Ireland, with only 39% wishing to remain in the UK, if Brexit goes ahead.Its started, Brexit begins the destruction of the UK.not that our little englander brexit nutjobs will care, more isolation the better, less influence makes us stronger

[leoneobull] 02/6/2019 21:02

Dear all. My week's holiday has finished sadly. Looking on the bright side, here is a good example of how Brexit could lead to the privatisation of the NHS. I'm already mounting a legal case against Dean.https://www.politicshome.com/news/uk/foreign-affairs/news/104289/us-will-want-business-access-nhs-post-brexit-trade-deal

[kinwah] 02/6/2019 16:52

Stupmy, PMO could fund the acquisition of North Sea assets by taking on the decommissioning liabilities like RRE has done. That way there wouldn't be the need for a placing or rights issue although the balance sheet would show a long-term liability.

[stansmith3] 01/6/2019 23:45

The Confederation of British Industry has warned Conservative leadership candidates over a no-deal Brexit.Such a scenario would do "severe" damage to businesses, the body - which supported Remain - told all the MPs running to lead the party.Director general Carolyn Fairbairn told BBC Radio 4's Today programme that a no-deal Brexit should be an option "that is not even considered".She was speaking after the CBI sent an open letter to candidates.In its letter the CBI says: "Firms large and small are clear that leaving the EU with a deal is the best way forward.""Short-term disruption and long-term damage to British competitiveness will be severe if we leave without one. The vast majority of firms can never be prepared for no-deal, particularly our [small and medium-sized] members who cannot afford complex and costly contingency plans."She told Today that businesses were not ready for a no-deal scenario and said "this idea that we are ready is just not true"."How can you be prepared for £20bn of increased customs costs? How can be you prepared for tariffs rising overnight? 150,000 businesses with no systems in place to do deal with this."This is not a responsible strategy for a government to have."

[stupmy] 01/6/2019 18:21

Not sure why I have that in the back of my mind, but I believed that they had suggested that as a way of funding a North Sea Asset/s from another company who were interested in divesting it. If they are interested in the asset/s then how will that be funded if not via a placing/rights issue bearing in mind the amount of debt that they hold?

[stansmith3] 01/6/2019 18:15

jelenkoin fairness to stumpy, he is not really a details person

[jelenko] 01/6/2019 17:44

Stumpy,
PMO have never said anything about dilution.!!

[stupmy] 01/6/2019 17:41

I think that is an important question Leoneobull. Don't forget that PMO has/had plans to buy other North Sea interests and openly discussed their need to raise money for that. That would almost certainly involve dilution. Perhaps that is playing it's part. Or perhaps something ENQ specific and positive is at play. I have my doubts that it could be anything new as the CEO wouldn't have been able to buy on the basis of information that he had if that information had not already been in some way disclosed to the market. ENQ seem to be steadying the ship rather than punting a big win on the back of high oil prices. Prudent I'd say and likely to pay off in the long term. In the short term, I personally would like to see 23.5 tested.

[leoneobull] 01/6/2019 15:06

Enq held up well compared with pmo. Why?

[stansmith3] 01/6/2019 13:24

not if they have buyers for the ever increasing exportsdidnt the wti brent spread widen recently anyway?

[sleveen] 01/6/2019 11:58

Yes but the the POO WTI should fall disproportionately more than Brent coz of the above reasons.

Maybe next week?

[stansmith3] 01/6/2019 11:31

its counted in the inventory levels so will help depress poo

[sleveen] 01/6/2019 11:14

But the Permian etc produce ultra light "oil" above 50 degrees, which few want 'coz it hasn't got the constituents to make aviation fuel etc.

So much of it is being stored. Yes it can be mixed with heavy oil but it's still not as good as the naturally heavy oils Brent etc, which refineries want.

[andypop1] 31/5/2019 22:51

Stanley,
This held up well compared to some which has to be a positive.
Brent did take a dive after the close and the contract rolls over this weekend, Monday will be interesting.
There could potentially be a trade, time will tell.
Big game tomorrow.
So have a good weekend.

[stansmith3] 31/5/2019 22:36

yes, unfortunately, i switched a chunk to hur, but should have sold up, this fall shows no signs of stopping

[andypop1] 31/5/2019 22:21

Stanley,
I've not checked the PMO board for some time, I couldn't comment on the most ill informed but the most qualified out of the bunch has to be OnedB, but he doesn't like to talk about it!

Are you still holding?

[stansmith3] 31/5/2019 22:13

andyyou forgot to mention saudi is sending oil in huge quantities through the back door to the usalol at fartinthejar on pmo board, saying the world is not awash in oil...who is the most ill informed, fart,deuche,gaslighter....stumpy not included as he is just evidently thick

[andypop1] 31/5/2019 21:49

Profit,
Please explain further.

The cold hard facts are the US is replacing all and more of the lost OPEC barrels, China's manufacturing is contracting and global growth is slowing.

China and the US are both digging their heels in and trump is now looking at hitting Mexico.

$100 oil is a pipe dream, $60-$75 will be the norm for the foreseeable and coincidentally that has been the norm over time taking in to account inflation.

The world is awash with the stuff despite the apparent lack of investment since the downturn.

The UK independents should survive but I doubt any of us will be retiring through investing in these dogs.
They are traders, nothing more than that.

[profitaker] 31/5/2019 21:34

With the volatility that trump is causing oil could just as easily spike to $100 or more. It's a 2-way street.