Falkland O&G Share Discussion Threads

[agnabeya] 17/8/2015 18:11

NGSM - Chile are already working with the Falklands Oil Development process.
They aren't worried about Argentina.
They took the damaged temporary dock to a dry dock in Chile to repair it.
No action from Argentina.

And what about South Africa?

Oil is global and is moved globally all the time.

[p@] 17/8/2015 17:46

Genl sells its oil to Isis!

[ngms27] 17/8/2015 17:42

They are all coastal and given Chile only produces 3% of National consumption it would be very weird if they were exporting Argie crude!

[efagie] 17/8/2015 17:11

ngm, think thats to receive oil from the argies...
though think chile is pushing more to gas over oil, did i see to a new gas refinery in the south, suit bor's gas if it produces..

[ngms27] 17/8/2015 16:58

Chile has three refineries and guess where pipelines to supply oil go from them?
Yep Argentina.

So imagine tankers supplying Chile refineries with FI Crude that's then shipped to Argentina.

It simply won't happen.

[agnabeya] 17/8/2015 16:46

ngsm - why not Chile?
They hate Argentina and are looking to do busimess witht he Falklands.
They already are.

not to mention SA

South Africa has the second largest refinery capacity in Africa after Algeria. Four refineries are located in Cape Town (Caltex / Chevron – Calref 100,000 barrels per day), Durban (Engen – Enref 120,000 bpd - and Shell / BP – Sapref 180,000 bpd) and Sasolburg (Sasol / Total - Natref 108,000 bpd). Gas to liquid (GTL) plants are located at Sasolburg and Secunda, where Sasol creates synthesis gas from coal as feedstock, and Mossel Bay, operated by PetroSA.

[efagie] 17/8/2015 16:17

hxxp://www.nexencnoocltd.com/en/AboutUs/MediaCentre/FeatureArticles/2015/BuzzardSoarsHigh.aspx

[agnabeya] 17/8/2015 16:04

Truly - why on earth would you think they are back in the North Sea?
They are drilling the long (65 days)drill at Diomeda - Humpback -
and hopefully news will be soon.
We have just reached the 65th day so here's hoping.
I'm not holding my breath though - I don't think it will be this week.
I hope I'm wrong.

[agnabeya] 17/8/2015 16:01

adg - I or my partner may have met them then at some point. :)
2014 had an extended shut down - hence the lower figures.
The Buzzard figures still seem a bit low at 190,000 to me.
Statistics can be very selective - as we all know.

[ngms27] 17/8/2015 16:01

Who is going to buy the oil?

Argentina?
Chile?
Brazil?
US?

Not a chance for any of them.

They will probably have to ship to India/China

[agnabeya] 17/8/2015 15:54

Where are the markets NGSM?
Do you think the oil must be sent to the UK?

Crude oil is sent to refineries, so
These refineries do not have to be in the UK.
Oil is shipped worldwide to markets from refineries -
it's nothing unique to the FI.

Staffing higher cost? Why?

[trulyscrumptious] 17/8/2015 15:38

Are they still drilling or is the rig back in the North Sea or somewhere else now? I thought Argos were going to have a go but maybe that'll be after Xmas at this rate.

[adg] 17/8/2015 15:36

Agna, almost a dozen people who work for my company were on the buzzard project at some stage so i just had a sense check whith the ones here today & they said it seems reasonable for last years average per day production.
Remember that the figures stated are average boe/day and were for 2014 not this year (I understand that buzzard 2015 production was set to increase in 2015 over 2014)
These are official average monthly production figures for last 8 months of 2014 ;
190,250
168,882
102,076
7,081
128,839
188,045
178,690
162,615

[ngms27] 17/8/2015 15:03

agnabeya,

I'd think transport costs are going to cream a few $'s per barrel given the location of any market.

Also the staffing costs are likely to be high as it's a long way from any friendlies.

Both will affect OPEX

[efagie] 17/8/2015 14:35

agna, i looked to buzzard, its near to some 200,000bopd, how much though is being lost with regards the year average with the amount of downtime per year?

[adg] 17/8/2015 14:29

Agna, its the governments figures, the DECC to be exact - or what used to be the DOE, the totals tally with the annual averages for 2014 so I am happy (but was very surprised) at the figures myself.
The annual average daily production for the UK hit an all time low this year at 575,000 barrels a day... so it all tallys up and I am stunned at the numbers as it just doesn't make sense as to how they can be continued to be operated however the decommissioning costs of each asset are so vast that its less cost to keep them operating.

[agnabeya] 17/8/2015 14:25

The Buzzard is very understated too.
I think these figures have been manipulated for political reasons.
If you rember about a month ago, it was the O&G production from the north sea since 2010 thatkept the UK economic growth figures up.
BP has just this week invest e d another bilion pounds in their North Sea assets.
You mention the FI as being 'remote'.
From what?
Oil can be sold to any refinery. It doesn't have to come to the UK.
South Africa isn't far.
With the UK tax regime in the North Sea, that makes NS oil more expensive.
FI conditions are more favourable.
I really think your figure source is wrong, adg.
For whatever reason.
I still think FI oil will be cheaper to lift.
It's geographical position is irrelevant IMHO.

[2unlucky] 17/8/2015 13:42

Makes the falklands discovery's look like a gold mine.
I think the FI will produce a lot more than the North Sea when ever it gets developed.

[efagie] 17/8/2015 13:31

goldie, instead of just saying that, show how..

[adg] 17/8/2015 13:02

That's what I thought when I first saw them

the figures are taken from the Government/DECC website for 2014 production - take a look for yourself.



It does line up with total average production for 2014 for the north sea that I read recently
of around 800,000 barrels a day (no need to add it up as I already did that and its just shy of 800,000 barrels a day)

[goldieshotz] 17/8/2015 12:56

Adg the total figures are wrong

[adg] 17/8/2015 11:54

I just posted this on the other bb, you may find it of interest;

-----------------------------------------------------------------------

Several months ago, as part of my own business's development, I was curious to see the output of the north sea in average barrels of oil equivalent per day per asset - the reason was that we are currently working on what I regard as a small project which I was advised, when it goes into production will be in the top 5 producers in the UK which astounded me... I had to check to see if it was true. These figures are from the DECC website - I sorted them in descending order but raw data is here for all to see;
DO THE MATHS !!
fwiw I think that apart for a handful of producers making mare that 10k barrels/day, that the only reason that the platforms/assets are still in operation are the huge decommissioning costs - if they were not an issue I think that the list would total a dozen or so assets still viable and operating. (what put it into perspective for me was when I worked on the Magnus in 90/91/92 we were producing 250,000 barrels a day at lifting costs of $5/bbl - it was a megastructure with a crew of 250 people nearly, it produces 11k barrels per day now (1/2m$ revenue and I reckon it still has 200 crew - do the maths and add on choppers, supply boats, standby vessels, inspection, maintenance costs, equipment costs and it just doesn't add up)

SO PUT TWO AND TWO TOGETHER AND THINK WHY THE FI IS IMPORTANT AND WORTH SERIOUSLY CONSIDERING IF YOU HAVE THE PATIENCE TO WAIT AND SEE A ROI OVER YEARS NOT WEEKS OR MONTHS

The list is ASSET/OPERATOR/AVERAGE BARRELS OF OIL PRODUCED PER DAY

BUZZARD NEXEN 157,576.
FORTIES APACHE UK LTD. 39,657.
JASMINE CONOCOPHILLIPS 37,720.
CAPTAIN CHEVRON 21,936.
FOINAVEN BP 17,685.
WYTCH FARM PERENCO 17,554.
FRANKLIN TOTAL 16,773.
ALBA CHEVRON 16,303.
CLAIR BP 15,469.
GOLDEN EAGLE NEXEN 13,314.
HUNTINGTON EON 13,286.
GRYPHON MAERSK OIL NORTH SEA UK LIMITED 12,329.
TELFORD NEXEN 12,229.
BERYL APACHE 11,979.
NINIAN CNR 11,573.
MAGNUS BP 11,141.
MACHAR BP 10,386.
CORMORANT NORTH TAQA 8,551.
SCOTT NEXEN 8,518.
DON SOUTH WEST Enquest 8,380.
BALLOCH Maersk Oil North Sea Ltd 8,047.
THISTLE ENQUEST 8,033.
HARDING TAQA 7,966.
TERN TAQA 7,617.
BACCHUS APACHE 7,315.
NELSON SHELL 7,018.
BLAKE BG 6,965.
ETTRICK NEXEN PETROLEUM U.K. LIMITED 6,761.
CALLANISH CONOCOPHILLIPS 6,732.
MUNGO BP 6,573.
PELICAN TAQA 6,571.
WEST DON ENQUEST 6,517.
MACLURE MAERSK 6,393.
WEST BRAE MARATHON 5,938.
CHESTNUT CENTRICA 5,535.
NEVIS APACHE 5,465.
OTTER TAQA 5,461.
ELGIN TOTAL 5,310.
PENGUIN EAST SHELL 5,265.
CLAYMORE TALISMAN 5,153.
CORMORANT SOUTH TAQA 4,920.
ATHENA ITHACA 4,824.
JADE CONOCOPHILLIPS 4,796.
STARLING SHELL 4,658.
DOUGLAS ENI 4,632.
DUNBAR TOTAL 4,595.
PIPER TALISMAN 4,442.
JANICE MAERSK 4,197.
ALWYN NORTH TOTAL 4,109.
STATFJORD STATOIL 4,094.
DUNLIN FAIRFIELD ENERGY LTD. 4,043.
BITTERN SHELL 4,013.
MACCULLOCH CONOCOPHILLIPS 3,768.
BROOM ENQUEST 3,740.
BLANE TALISMAN 3,735.
BRAE SOUTH MARATHON 3,560.
COOK SHELL 3,438.
JUDY CONOCOPHILLIPS 3,283.
BUCHAN TALISMAN 3,230.
MERGANSER SHELL 2,960.
EVEREST BG 2,878.
GUILLEMOT A SHELL 2,822.
JOANNE CONOCOPHILLIPS 2,805.
MADOES BP 2,758.
ERSKINE CHEVRON 2,660.
HUDSON DANA 2,647.
DEVENICK TAQA 2,603.
BRITANNIA BOL 2,558.
LOCHRANZA MAERSK 2,443.
BRUCE BP 2,339.
AUK NORTH TALISMAN 2,285.
BANFF CNR 2,171.
PENGUIN WEST SHELL 2,116.
BLACKBIRD NEXEN 2,082.
OSPREY FAIRFIELD ENERGY LTD. 2,080.
AUK TALISMAN 2,057.
BRENDA PREMIER 2,045.
TWEEDSMUIR SOUTH TALISMAN 2,036.
TULLICH MAERSK 2,004.
BURGHLEY TALISMAN 1,865.
BEATRICE ITHACA 1,754.
ROCHELLE NEXEN 1,726.
HEATHER {AND EXT} ENQUEST 1,696.
BRODGAR CONOCOPHILLIPS 1,651.
FULMAR TALISMAN 1,647.
GROUSE ENQUEST 1,643.
FALCON TAQA 1,633.
HOWE SHELL 1,620.
KYLE CNR 1,619.
GANNET A SHELL 1,617.
BRAE CENTRAL MARATHON 1,608.
ORION TALISMAN 1,542.
EIDER TAQA 1,541.
CAUSEWAY ITHACA 1,532.
MAULE APACHE 1,514.
BOA MAERSK 1,496.
CLYDE TALISMAN 1,451.
GUILLEMOT NW DANA 1,403.
MURCHISON CNR 1,

[tongosti] 17/8/2015 09:24

Negligible volumes so would think it's just a technical breakout

[whoppy] 17/8/2015 09:12

A biggish trade on BOR just went through..and a stealth rise here.