Hurricane Energy Share Discussion Threads

[the guardian] 20/5/2018 21:17

Thanks guys for the explanation. So the turret slotting onto the buoy is why the measurement is critical. I understand now. I agee chopsy that the buoy should be in place before the fpso arrives. Assuming that the turret is already fixed onto the front of the FPSO, it had better fit!

[laserdisc] 20/5/2018 21:17

Dcarn, Esvagt Celina the safety vessel giving ETA: Lancaster Field Monday Evg 2018-05-21 22:00

[chopsy] 20/5/2018 21:12

Can't see why the bouy couldn't be secured in position before the FPSO arrives, in fact it probably has to be.

[chopsy] 20/5/2018 21:09

Yes, the bouy holds the umbilical up at sea level, the FPSO /turret slots onto the bouy and weather vanes around it, with the new green water shields she can aim into the massive seas and withstand anything thrown in her direction. Then if she needs to detach e.g. for more fitting or repairs, it is easily done, leaving the bouy securing the end of the riser.

[gibso6767] 20/5/2018 20:40

The Bouy allows the FPSO to swivel due to tides , weather conditions and effectively the connected between FPSO and riser , subsea parts .
It’s bespoke to Akou Mizou and our own subsea jewellery .

Think that it can be installed prior to FPSO ?

[craigo121] 20/5/2018 20:38

Ive done massive from Hurricane but moving 10% of my stock over to WEB{webis) relaxed US gambling laws have opened up the door for WEBiswhom are perfectly poised with knowledge has to be a 10 bagger from here looking at 100p end quarter

[dcarn] 20/5/2018 20:16

Thanks guys.

About 355Km to field. With a bit of luck we'll be there tomorrow night.

A day to run the anchors.

RNS Wednesday or Thursday.

[laserdisc] 20/5/2018 19:58

yes bloodhound west I have amended good spot

looking likely we will have the rig handed over to us mid week


this link Westshore top left have added a live weather app although I clicked on it and it said not safe, should show present swell etc may be useful for when buoy is waiting to be connected

could be a windy tv app clone

[bloodhound] 20/5/2018 19:54

"I have well head at N 60.180 e 003.870."

3.87 West surely Laser?

BH

[bloodhound] 20/5/2018 19:41

"Anyone know the lat / long position of Lancaster?"

No but loooking at the map it's about 60.3°N 4°W (give or take).

I should add, if you're thinking of sailing there Dcarn I wouldn't use the above numbers. Although if you leave it until after the PAUL B.LOYD JR arrives it should give you a good sighter.....;-)

BH

[the guardian] 20/5/2018 19:38

Obviously the FPSO needs to be in place for the turret platform, which in turn needs to be secured by the anchor chains. I don't understand the purpose of the buoy, so could someone please explain?

[dcarn] 20/5/2018 18:47

Anyone know the lat / long position of Lancaster?

[bountyhunter] 20/5/2018 18:01

Yes TG I'm planning on this investment boosting my future pension ☺️

[chopsy] 20/5/2018 17:40

Doesn't mention 2.6bn 2C across all the licences :-(
Doesn't mention possibility off FOIL Q4

[the guardian] 20/5/2018 17:35

Three great links. All exciting stuff and moving along very quickly.

If we get onto the FTSE, that in itself will give us a massive boost. Institutions, pensions. As my son would say - happy days.

[bountyhunter] 20/5/2018 16:54

good find badday, and completely up to date!

[badday] 20/5/2018 16:10

I didn't realise Motley Fool was still going, but theres a tip on there anyway!

The Hurricane Energy share price is rising. Is it time to buy?

Rupert Hargreaves | Sunday, 20th May, 2018 | More on: HUR


Image source: Getty Images.
The Hurricane Energy (LSE: HUR) share price has woken up this year. After going nowhere in 2017, the stock has jumped 57% year-to-date. And I believe this is only the start of what could be a long run higher for its shares as the oil company continues to progress towards first production.

Project start-up

Hurricane’s management has to be commended for what the company has accomplished over the past year. Ever since 2014, when the price of oil began to crash, it has been difficult, if not impossible, for many small oil companies to function. Even the world’s largest oil companies have had to put projects on ice, cut capital spending and scale back exploration plans to cope with the declining prices.

However, against this backdrop, Hurricane was able to convince investors to stump up $520m to develop its flagship Lancaster field, which has combined 2P Reserves and 2C Contingent Resources of 523m barrels of oil.

Even though it hasn’t been easy, by starting the development of Lancaster at the bottom of the oil cycle, I believe Hurricane has put down strong foundations for future growth.

As activity in the oil services sector has slumped over the past three years, service providers have slashed costs to try and attract custom. As a result, oil producers have been able to cut hundreds of millions of dollars off the cost of developing projects, helping to improve the overall long-term returns from these developments.

Hurricane is likely to have benefitted from this. The company might have had to ask investors for significantly more funding if management had commissioned the project at the top of the oil price cycle.

Rising oil prices

Not only has the company been able to benefit from low service costs, but now the price of oil is also moving in its favour.

At the time of writing, the Brent crude benchmark is trading at just under $80 a barrel, its highest level since the end of 2014. Hurricane is planning to have the early production system in place and producing oil from Lancaster during the first half of 2019.

Over the next few months, we should have further updates on how the development and installation of this system is going. So far, the company is on track to install the system during the third quarter of the year. And if the price of oil continues on its current trajectory, then Hurricane is set to begin production from Lancaster at one of the most favourable times in the past four years.

Time to buy?

Considering all of the above, even after recent gains, I believe that it’s time to buy the Hurricane share price.

Even though the company has not started production yet, it’s well on the way to first oil and rising oil prices should prove to be a strong tailwind when production finally begins. There’s still plenty of work for the firm to do over the next six to 12 months, but its outlook has dramatically improved in 2018.

[bloodhound] 20/5/2018 15:00

PAUL B.LOYD JR
Latitude / Longitude: 57.5885° / 0.68164°
Earlier today: Latitude / Longitude: 57.28185° / 1.373188°
Status: Underway
Speed/Course: 7.0kn / 327°
Wind: 22 knots
Wind direction: S (184°)
Temperature: 10°C

First and last status report from me (I was just curious as to how things were going) over to you Laser.

BH

[bountyhunter] 20/5/2018 12:41

and although a little out of date a good overview: