Harbour Energy Share Discussion Threads

[llef] 10/3/2022 10:45

hxxps://www.energyvoice.com/health-safety-environment/393950/workers-on-harbour-energy-catcher-fpso-put-at-risk-of-exposure-to-lethal-levels-of-toxic-gas/?utm_source=Sailthru&utm_medium=email&utm_campaign=Energy%20Voice%20-%20Daily%20Newsletter%202022-03-10&utm_term=Energy%20Voice%20-%20Newsletter

During a Health and Safety Executive (HSE) inspection, it was found that crew on the Catcher FPSO were at risk of exposure to lethal levels of toxic gas.

The watchdog has now served BW Offshore (OSLO: BWO) an improvement notice – it has until the end of the month to comply.

Situated around 110 miles from Aberdeen, the Catcher field is comprised of a combination of production and water injection wells tied back to the Catcher FPSO.

The vessel is owned and operated by BW Offshore.

The HSE carried out an inspection of the cargo and slop tanks on the Catcher FPSO between January 18 and 21.

It found that on November 7, during the “gas monitoring of the ullage space of the port slop tank”, there was a recorded reading of more than 1000 parts per million (ppm) of hydrogen sulphide (H2S).

H2S is a toxic gas that can be “rapidly lethal” at levels above 1000ppm, the HSE said.

At the time of inspection the watchdog said that BW Offshore had been “unable to demonstrate” that a “suitable and sufficient” risk assessment had been in place for H2S and the potential exposure to workers on the vessel.

Therefore the Oslo-listed company had failed to ensure measures needed to “prevent or adequately control” the exposure of crew members on the Catcher FPSO to the toxic gas.

Industry sources suggested that Harbour Energy is working closely with BW Offshore to resolve the issue.

[74sjh] 09/3/2022 16:20

I can't see any ARCM TR1 at all. There is one for GIC who seem to control c12% voting rights for something called purple green investments in Singapore so maybe it's related to that. But my assumption is former debt holders are causing this weakness as no one else in their right mind would be selling right now

[my retirement fund] 09/3/2022 15:07

There is no disclosure from ARCM, so clearly they are not selling. Has anyone bothered to email or call the companies investor relations regarding the weakness in case there is an explanation or ARCM are breaking the rules again ?

[74sjh] 09/3/2022 14:28

You can thank these guys for the ongoing shareprice weakness as they sell 17% of their converted short positionhttps://www.standard.co.uk/business/fca-premier-oil-arcm-shorting-a4570686.html

[74sjh] 09/3/2022 13:44

https://www.harbourenergy.com/media/5ezfxw1c/2021-cmd-slides-vfff-2.pdfP36 is the hedging program.About half their oil output was sold at $58 for 2021 and less than half at $61 for 2022. A significant amount is unhedged so not sure how a margin call can exist here. It's just a missed opportunity to sell at higher prices.

[catsick] 09/3/2022 12:41

I think this 10 billion dollar hedge loss is conservative from what information is available

[catsick] 09/3/2022 12:12

So I bought a decent chunk of the old pmo bonds when they were in the gutter and the deal to flip them into the newco shares was outlined and was clearly free money, I held the hbr shares until this week when I have been bailing out of them all. The critical thing for me is to look at the jan 2022 company presentation , they have hedged over a years production at around 61 usd oil and 41p a therm gas, and more gas hedges than oil, at the hedge price this is 3.6 billion usd, however oil is up 100% and gas 1000% from these levels, my guess is they are 10billion usd underwater on these hedges and getting massive margin calls which they cannot finance and therefore even though they have a good potential business they are insolvent, there is radio silence from the company, I was hoping tolmount would give a spike higherbut after this nickel debacle I have to bail

[jonnynixon] 09/3/2022 09:11

When is news due on the North Sea license. The rns said this exportation works completed 30th dec...this must be one of the only oil and gas companies not to rerate imo...what is holding it back?

[farrugia] 09/3/2022 09:11

is this company making profits or losses?
how much oil do they pump? do they use hedging?
They seem to have 3,264 million in net debt?

[74sjh] 08/3/2022 22:48

Former PMO debt holders have been free to sell their collective 150m shares since September last year which seems to be the main cause of drag on the share price. The recent higher volumes seem encouraging in the sense that there are institutions out there now taking a look at the fundamentals and as this overhang must be getting close to being cleared

[dandigirl] 08/3/2022 20:24

Volume 4m plus, somewhat higher than normal.

Results next week.

Hmmm.

[rajni120] 08/3/2022 16:49

Pure bullCovid was 20 dollars and the share price was higher then

[my retirement fund] 08/3/2022 14:21

Should be plenty of UK government incentives for the North Sea

[my retirement fund] 03/3/2022 09:50

If this doesn't break 4.50 soon and then quickly push on to 5.00 then I'm a banana!

[kenbos] 01/3/2022 13:30

I think the price rise is more likely due to the price of oil with the problems going on at the moment rather than anything else

[janhar] 01/3/2022 13:25

Results soon - looks like people are buying ahead or switching from the majors away from Russian exposure

[spacedust] 01/3/2022 11:10

Another 50% to break even or old 30p. Old 50p is a staggering 1000p

[spacedust] 01/3/2022 09:26

Mano what world are you livng in?