Harbour Energy Share Discussion Threads

[breakconvention] 09/11/2021 12:11

The low sideways share price movement here, suggests to me this is being held low for a merger or takeover bid to come in. Grossly undervalued at the current price.

[sigma3333] 09/11/2021 10:18

Looking at the data, the HBR operated fields seem to be doing OK/steady. It seems to be the non-operated fields that have been hurting.

siggy

[bomfin] 09/11/2021 09:22

The difference will be partly made up of their overseas production.but in the presentation the financial director suggested they should be close to 100.000 boepd gas production of the just over 210.000 boepd projected for the rest of 2021. Yes, That needs a fair wind as you say. If they get that they will be over £8 million cash flow/day.

[bomfin] 09/11/2021 09:11

In the same presentation they said they had 159,000 boe/day in July and 185,000 boepd in August.

[bomfin] 09/11/2021 09:01

Thanks for the research siggy. In their first half presentation they said they were back at 200,000 boepd in September with infill and development drilling ongoing.

[sigma3333] 09/11/2021 08:47

bomfin
I may have got some of the field equity interests slightly off, but I think you can see no major recoveries to end August. This is UK data only, so international would lift numbers

HBR Net production Kboe/d

Prices should help

Oil Associated Gas Dry Gas Total MBOE/D
Jan-21 105 81 6 192
Feb-21 99 78 5 182
Mar-21 107 77 8 192
Apr-21 93 68 2 163
May-21 83 54 2 139
Jun-21 58 20 7 85
Jul-21 83 44 14 141
Aug-21 96 63 5 164

Suggest peeps do their own checks as I may have done the sums wrong.

Problem HBR have is there are so many moving parts to the portfolio. A win here is offset by a loss there (PK said something similar). The trick is to be able to get reliable "net" predictions together that allow for breakages rather than assuming everything goes to plan.

siggy

[steve73] 09/11/2021 06:28

IIRC PMO bought out Chrysaor's SOLAN equity long ago (c. 10 years perhaps, way before the Shell deal). or maybe I'm thinking of "flowserve"..?? But as you say Solan has been a bottomless pit for cash - good money always going after bad..

I won't touch PMO again, or HBR as it now is .. but I remain interested in how it will eventually pan out.

[bomfin] 09/11/2021 05:00

On the link posted about production figures. I think that would take a week for me to load it. So none the wiser although I know there is development drilling on Buzzard and I doubt it will effect mid to tail end production much at Buzzard. A very solid asset with a lengthy production history. As for Solan. It is duff. It has been duff since pretty much the beginning. Premier threw money down a hole there. All part of the reason they had to sell out very cheap to Chrysaor. All in the price many moons ago.

[bomfin] 08/11/2021 20:45

£1 billion cash flow possible 2nd half if their September production guidance comes in. £400 million capex 2nd half out of that but if that comes in then the underlying strength of the business will merit a rerate imho and dyor.

[sigma3333] 08/11/2021 17:53

unfortunately, Shell took the opportunity to bin folk they did not want with the asset sale to Chrysaor.........explains a lot imho

[dandigirl] 08/11/2021 17:20

Thank you, llef.

I fear siggy will be proven right. I, too, am expecting a lack-lustre disappointing announcement.

[llef] 08/11/2021 09:06

some negative news re tolmount here...harbour downplaying its importance.

hxxps://www.energyvoice.com/oilandgas/north-sea/362427/tolmount-oil-gas-releases/?utm_source=Sailthru&utm_medium=email&utm_campaign=Energy%20Voice%20-%20Daily%20Newsletter%202021-11-08&utm_term=Energy%20Voice%20-%20Newsletter

[sigma3333] 06/11/2021 18:48

looking at production for July & August for HBR fields, I expect lots of excuses again from Linda from Q3 update

SOLAN sick
BUZZARD volumes from the development only 3 K/d in August net HBR
More TARS in July & August

hxxps://data-ogauthority.opendata.arcgis.com/datasets/oga-field-production-pprs-wgs84/explore?location=56.143900%2C-0.567550%2C6.04&showTable=true

time to slash headcount as clearly trying to be another Shell or BP ain't working

siggy

[heialex1] 06/11/2021 09:15

Shouldn't these guys be making a lot of money at the moment?

[bomfin] 05/11/2021 11:44

Good luck Andypop

[andypop1] 04/11/2021 22:35

Bommy,
What's so funny?

[andypop1] 04/11/2021 09:12

Just sold.
Good luck.

[dd776] 04/11/2021 09:05

When is Tolmount expected to be producing, must have been a bigger job to rectify, anyone any insight ..?

[spacedust] 03/11/2021 12:27

Little bit of confidence

[breakconvention] 03/11/2021 11:11

Nice £50k director buy just announced.

[surfit] 02/11/2021 21:51

Thank you AP1
Rgds Sft

[andypop1] 02/11/2021 21:37

Bommy,
I will take some time out to research the business over the weekend, thanks for the valued advise!

Good luck.