Faroe Petroleum Share Discussion Threads

[scaff55] 13/3/2017 08:49

Date pushed back again.?

KL SANDEFJORD
34000
390
750
II

ENI Norway - R/M Scarabeo 8 (Call Off) - D/D 21

24.03 - BERGEN

[rogerlin] 13/3/2017 08:00

KL Sandefjord still in Bergen.

[rogerlin] 10/3/2017 19:06

Stril Mar gone to Goliat. The KL Sandefjord is still in Bergen, when that moves off the drill is over, but no clue as to the result, there has been enough time for a success but clearly there has been no side track. Sometimes these tugs are listed but do nothing for ages. Platou says 13.03.17, maybe it will move Monday?

[scaff55] 10/3/2017 09:29

They keep moving the dates forward for Skandi, makes me wonder ?
Should have said back.
SKANDI ICEMAN
32600
DP2
300 T / 800 M2
ENI N / STBY/AHTS CALL-OFF SS SCARABEO 8
BGO
25/03/2017

[rogerlin] 10/3/2017 08:05

Skandi Iceman now going back to the rig, according to Marinetraffic it only spent 2 hours in Hammerfest, what can it do in that time, just re-fuel? Stril Mar is in Hammerfest. The other supply ship (firefighter) Stril Barents must still be at the rig. Looks as if the Iceman is being used as a standby vessel to free up the transporters, surely this is positive activity?

[wbodger] 09/3/2017 20:12

With ENI as R/M contractor the likely destination for the rig is Goliat Eye, also an ENI drill. Wellbore expected to be 7122/10-1S when they get a Permit. (That's interesting, no permit yet. Normally it would be logged by now if Bone was coming to an end.)

[rogerlin] 09/3/2017 17:29

Westshore now has KL Sandefjord down for "R/M" Scarabeo 8 so I think they are planning the end of the drill. It is still in Bergen however so some days away yet.

[rogerlin] 08/3/2017 16:42

Haven't seen anything about the KL Sandefjord up to now Wbodger, I see Hagland now have it listed as ENI. If that's for Bone it could signify the end of the drill? There has been time to find something, but a side track would be better!

Edit. Marinetraffic has it in Bergen, so some distance away at any event.

[scaff55] 08/3/2017 12:56

Wb if it is for Bone I believe its new. For what ever reason this drill taking longer than expected. Drill problems or they found something to test ?.

[wbodger] 08/3/2017 11:48

I'm always suspicious of coincidence. I figure there might be new regulations after Macondo, that they have to have a fire-fighting vessel handy at least for the first flaring.

re anchor handlers, is the entry against KL Sandefjord new, rogerlin (or scaff)? I haven't been watching the broker sites. It just says ENI are the next charterer. 'TBA' doesn't help much.

[rogerlin] 08/3/2017 08:37

It would be nice if they are flaring but I think these general purpose supply vessels are often listed as "fire fighting vessel". The Stril Mar (also so described) has been up and down to the rig several times but is now in Hammerfest and the Skandi Iceman also back, so they have to have a boat up there, but it is sadly all out of sight of the free Marinetraffic service. I think of these the Skandi Iceman is the only one that can move anchors and so if it is back in port the drill must be going on. The rig can move itself and so could possibly be freed by one tug, although more likely we would see more hired and so get some warning.

[thegreatgeraldo] 07/3/2017 18:12

A fire on the rig would make the news pretty quickly, flaring sounds rather more likely than an overreaction to some burnt toast.

[wbodger] 07/3/2017 17:56

Yeah, skaff. It would be good news.

[scaff55] 07/3/2017 17:46

I will vote for that one Wb.

[wbodger] 07/3/2017 17:42

From watching Hurricane board, the UK authorities had a fire-fighting vessel standing by if they were going to flare gas. Maybe the same safety procedure in Norway?

[scaff55] 07/3/2017 17:22

Skandi Iceman on its way back but this on its way to the Bone Field did not know there was such a thing. hope its just cargo. ?
IMO: 9695937
Name: STRIL BARENTS
MMSI: 257472000
Vessel Type: FIRE FIGHTING VESSEL
Gross Tonnage: 5938
Summer DWT: 4264 t
Build: 2015
Flag: NORWAY
Home port: HAMMERFEST

Read more at

[wbodger] 07/3/2017 17:09

Yes about the share price fall today, not sure a result can be read into it. There wasn't 10 pence built into the share price on optimism over Bone, so it shouldn't have drifted down 10 pence on bad news. It has fallen from about 1.10 it reached on the Delek bid for Ithaca (which hasn't been tabled yet has it?) so it may be unrelated. Just to refresh, the Delek/Ithaca announcement was made in a IAE RNS dated February 6, and we can see from the graph above what that did to FPM share price OTOH the Bone drill spud (13/01) barely moved the needle.

I don't get why IAE is trading below £1.20, but that's a bit O/T here. I would have thought there is no downside to Ithaca if Delek withdraw.

[rogerlin] 07/3/2017 16:37

That's a good spot Wbodger. FPM haven't said much about Trym in the recent presentations. The website says:

North Sea (NO) 50 (and operator)% equity Bayerngas Norge AS (50%) 3/7

Trym produces gas and condensate from two production wells, via a subsea tieback to the Harald facilities in the Danish North Sea. Gas is exported to Denmark via the Danish Underground Consortium (DUC) infrastructure system, which includes the Tyra platforms. Condensate is exported to the Fredericia terminal in Denmark via the Tyra and Gorm facilities.

The Tyra gathering station downstream of Trym, which exports a large part of Denmark’s gas production, is subsiding and needs to be repaired or replaced. Accordingly Faroe’s acquisition case assumes that Trym production will cease during the second half of 2018. However alternative technical solutions for Tyra are being considered and if successful, Trym production can recommence.

Other than a continuation of production beyond 2018, there is further upside potential from the lowering of the inlet pressure to the Harald facilities that would allow for extended production and higher reserves

[scaff55] 07/3/2017 16:23

I just think they are trying to suggest its a duster but they are always trying to give us the wrong idea.

[whiskeyinthejar] 07/3/2017 16:14

I wouldn't assume market knows any more than fpm has announced.

IMO fall today is just down to Peel Hunt downgrading their target price from 120p to 115p today. Still rate fpm as a buy. Just a bit less bullish.

Just noise imo.

[jasper2712] 07/3/2017 16:07

Looks like a duster going by the drop today and the previous fall

[wbodger] 07/3/2017 15:30

I haven't been watching the II board but thanks 'olechr' for this link to a petro.no story concerning a tax agreement between DONG and Maersk and the Danish Government which will result in the Tyra being fixed. Here's the link in Norwegian:
hxxp://www.geo365.no/olje-og-gass/kan-redde-norsk-gassfelt/

Part of the translator-bot: "The oil company A.P. Moller-Maersk ... have agreed with the Danish government about a tax cut deal that ensures continued operation of the Danish Tyra field in the North Sea.

"The agreement is good news for Faroe Petroleum's Norwegian Trym field produced by Tyra.

"It was originally planned that Tyra would be closed in 2018 because of subsidence, but an upgrade can ensure continued operations."

According to my calculations (but dyor) Trym produced over 5,000 boepd net to FPM last year which was over half of the production from the DONG assets Faroe acquired.

[wbodger] 07/3/2017 09:00

hxxp://www.offshoreenergytoday.com/technipfmc-subsea-7-scoop-pil-bue-awards/

[harry rags] 07/3/2017 08:22

RogerlinLet's hope that with all the supplies being required it will bring some good newsHarry

[whiskeyinthejar] 07/3/2017 08:18

They said Bone would take 55 days from 11th January. I calculate today is now 55 days.

It was an estimate of course, but any day now we should hear I think.