Decommissioning costs through the roof, makes you wonder why they bother to look for oil, might as well become a breakers yard for old rigs! |
Not sure what is causing the downward pressure here.Forecast usd 1bn FCF in 2025. On a market cap of usd4.5bn, that's a 22% FCF yield.Dividend almost 9% and nothing the RND to suggest the divided is at risk.Likes like a good opportunity to buy a fiver for three quid. I'll take 9% dividend and wait for a re-rating to £3.5 |
Feb 6, 2025
Aker BP Bites Dust in North Sea
Norwegian oil and gas firm Aker BP and its partners have drilled a dry well in the North Sea offshore Norway.
The drilling was carried out north of the Gjøa field at the wildcat well 35/6-5 S, located in production license 1110, which was part of the awards in predefined areas (APA) 2020, announced in February 2021.
There has been significant interest in the area in recent years, with several production licenses awarded nearby.
This was the first well in the license, and it was drilled by the Odfjell rig Deepsea Nordkapp.
The license is operated by Aker BP with 55% working interest, with partners VÃ¥r Energi and Harbour Energy holding 30% and 15% respectively.
The objective of the well was to prove petroleum in Lower Cretaceous reservoir rocks in the Agat Formation. The well encountered sandstone layers with poor to moderate reservoir quality, and following analysis, has been permanently plugged and abandoned. |
Post from lse bb:
Mancunian77
Posts: 110
Price: 229.80
No Opinion
RE: Value For Shareholders
5 Feb 2025 18:26
Unfortunately, I’m now inclined to believe that we just simply rushed and as a result, paid way too much for Wintershall and that along with heavily increased UK taxation/EPL here (plus generally heavy decommissioning costs) have all resulted in a seriously declining company free cash flow/FCF, otherwise, how can we end up to only “be broadly free cash flow neutral in 2024” with $82 Oil and lot higher Gas, numbers don’t lie, especially in a written factual RNS update! |
Hilarious posts here.
Company are doing what they need and getting on with it.
Share price is out of their control. |
Only saving grace is that they have much of production hedged at $82 a barrel. |
Another day, another drop.
Where is the board? Why aren’t they communicating with shareholders? |
Unfortunately, Linda and her EIG HBR Chairman ally here have made plenty of money while Harbour Energy shareholders have only suffered throughout and Executive Team have somehow squandered HBR’s hard earned revenues and subsequently, free cash flows!
I also now have the bad feeling that this is going to go below 200p levels soon and then if there is even a hint of lower than anticipated dividends then there are no limits on how low the share price can go to moving forward, DYOR. |
Linda Cook is an incompetent buffoon, talks the talk but with a limp, Needs to fool right off asap! |
Leadership change is now unavoidable. How long can they be given? Always jam tomorrow here well my toast is stale and cold. She needs to go. The share price says it all month after month in a downward trend. |
“If erratic Trump global policies stay in place/continue, there is a high chance that this can go below the £2 mark, down along or even more than other UK Oilers, O&G is usually hit the hardest.” |
A sitting duck for a takeover? |
Looks like market is worried on HBR FCF (as per latest RNS update), and also potential for lower O&G prices ahead, time will tell.
In the meantime, this makes interesting reading:
“EU Officials Discuss Restart of Russian Gas as Part of Ukraine Peace Deal” |
I can't see any reason for the drop in thinking of buying some more but a little worried as to what has caused the drop |
What is going on here? Why the loss of 30% in over the last year? |
At least I should be able to fit more into my Isa at these prices come April. |
Something fishy going on with HBR for sure, especially after Harbour Energy Chairman once again sold shares here on what I thought was the cheap at that time(£20 Million Pounds worth of shares again, and this time in October at around £2.60 a share), maybe he is very bearish on Oil prices and/or HBR, who knows but suspicious as consecutive, IMO. |
Oh no, not the ftse100 old chestnut again. Chucked out twice already so shouldnt be allowed back in a 3rd time. List in USA ? Hahaha, not fit for that until bod replaced with one that understands the O&G business. Imagine getting chucked out of there too 😀😀😀 |
Let's not forget gas prices as European gas prices hit as high as €51.04/MWH, HIGHEST SINCE OCT 2023 . Strange decline in my book given the vast improvement |
Only if the dividend is maintained and Trump doesn’t push Oil prices to go any lower, lack of CAPEX spending in the UK will turn the North Sea here into a loss making/costly venture.
It is the outlook that is now key as there are many companies around with even higher yields, especially Oilers. |
Now no chance of a FTSE 100 entry then, and I guess that we may be lucky if they don’t kick HBR out of the FTSE 250 😊 |
What's going on with this? Is it being walked down in preparation for a takeover bid? |
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