Hurricane Energy Share Discussion Threads

[gary38] 30/1/2017 10:57

Cairn mops up North Sea as oil majors move outMichael GlackinJanuary 29 2017, 12:01am, The Sunday TimesNorth Sea oil production is forecast to climb for a third consecutive year in 2017CAIRN ENERGYShareOIL explorer Cairn Energy is looking to expand its North Sea presence , in the latest vote of confidence in the ageing basin.Cairn chief executive Simon Thomson said the North Sea remained an active market for asset transactions for the Edinburgh company."We continue to see opportunities for future growth and investment across the North Sea," said Thomson."We're confident, but you have to pick and choose your opportunities. We want to leverage our technical strengths to be in front-end production where we can continue to look for exploration upside."However, Thomson added that Cairn's Senegal exploration operation, where last week it embarked on its third drilling programme, remains the company's main focus.Cairn's existing North Sea investments, the Catcher and Kraken developments, are expected to produce their first oil in the coming year.Analysts predict a boom in mergers and acquisitions (M&A) in the North Sea as prices stabilise and oil majors move to dispose of ageing fields to industry minnows and private equity groups to focus investment elsewhere.Royal Dutch Shell is poised to complete the $3bn (£2.4bn) sale of a large part of its North Sea oil and gas assets to private equity-backed Chrysaor as part of its drive to reduce debt after buying BG Group.This month EnQuest acquired a 25% stake in BP's Magnus oilfield, 160km northeast of Shetland, for $85m. It has an option to buy the remaining 75% holding for $300m between July 2018 and January 2019.Edinburgh energy consultancy Wood Mackenzie has forecast that North Sea oil production will climb for a third consecutive year in 2017, with 14 new fields due to begin producing fresh streams of revenue. Fiona Legate, senior analyst at Wood Mackenzie said she expected 2017 to be the biggest year for North Sea M&A since 2012.Oil prices have been trading just above the $50 range amid expectations that OPEC will cut production for the first time in a decade.Operating costs in the North Sea have also fallen amid aggressive job cutting and improved efficiencies.

[jacks13] 30/1/2017 09:41

Davidblack, any farmin would be negotiated on terms that suited both parties.

[idleduck] 30/1/2017 08:29

If it is Shell that figures as Trice was with Enterprise and Enterprise was eaten by Shell, etc, etc, etc

[davidblack] 29/1/2017 20:50

On a farm in is it likely HUR would also get back its spend to date?

[cashandcard] 29/1/2017 19:17

They have taken Trice's Recommendations on Clair before - that was to up their stake...Cash

[bloodhound] 29/1/2017 18:24

"we must be tilted towards an upside in the sp"

Indeed, today's share price of 47p is exactly were it was the day [[before]] the Lincoln result on the 19th of December. So as of right now Lincoln is valued at zero!!!

It seems that HUR are so good at making wos oil discovery's that an: "approximately 250 million barrels of recoverable oil for the Lincoln prospect may be conservative" pre CPR comment from the company is ignored by the market (spit)......!

BH

[zztop] 29/1/2017 17:56

As we all know farmin news could come at anytime..if it's gonna happen...that's what makes getting up in the mornings easy, great times for hurricane investors.

[gary38] 29/1/2017 13:49

Always enjoy reading your informative posts Laser.

[laserdisc] 29/1/2017 12:30

how deep could the the reservoir be ? as time progresses we will get the CPR and we will get present known resources trf to reserves, that's one of the key catalysts in my opinion to get the share price into the upper trend mode. Proven resources without doubt will re-value Hur, the ball is now rolling for a farmout,a serious development project on the cards, we must be tilted towards an upside in the share price I just remain long term, we are still due more information on Lincoln,that in itself could add significant incremental value via tie-back to the Lancaster development hub

[gibso6767] 29/1/2017 12:16

Yes true but a depth to it

[rayrac] 28/1/2017 23:58

I doubt it. It's a vast area and plenty more ridges!

But no harm in hoping?

[leeson31] 28/1/2017 21:34

Agree hopeful holder..

[gregpeck7] 28/1/2017 19:25

Very very interesting...

[hopeful holder] 28/1/2017 19:05

Kind of tells me Shell have been in the data room at Hur.

[hopeful holder] 28/1/2017 19:02

Last paragraph Shell said last year that the company plans to plough $4bn into the West of Shetland "cash engine" by 2018, but it refused to comment on any future investment plans in UK waters beyond this project.

[rethemagic] 28/1/2017 18:59

Nice last paragraph in that article.

[kirkuk] 28/1/2017 18:53

Laser

Also says Shell will concentrate West of Shetland.

[jimarilo] 28/1/2017 13:02

"We look forward to updating the market with initial well results towards the end of Q1 2017."

T20 players will have to get their timing right ;-)

[talkman2] 28/1/2017 12:17

The t20 brigade will be getting in pretty soon . So, expect a rally to around 50-52p pending the Halifax results .

[gibso6767] 28/1/2017 11:53

I'd hazard a guess , this well isn't a complex one , probably nigh on vertical and nothing to difficult to deal with .

Once in any payzone/ reservoir it's just a case of going further south till either source rock or OWC is found .

So perhaps news of a Td in February but little else operationally wise

[deanroberthunt] 28/1/2017 10:50

trouble is, at the moment at a value of £565m, that pretty much values all in the 2c prospective at 0.25-0.5c per bbl....

[zztop] 28/1/2017 10:33

Well result should be in around end of Feb, start of March..?