Hurricane Energy Share Discussion Threads

[buzzzzzzzz] 27/9/2017 10:57

HD

So agree with you re can kicking.

If there is a recession all the bullets have already been fired ie Draghi QE wait for the taper tantrum when the tap is turned off.....Euro doomed!

[zztop] 27/9/2017 10:34

Sucking oil from sandstone is so 20th century.

[hiddendepths] 27/9/2017 10:22

Just got round to reading the Bob Dudley speech. It's not just the mention of Hurricane that's bullish for us - there are several other factors that mean that the value of our oil is way higher than I had thought! If Lancaster et al get the BP treatment, full field production costs will fall like a stone. Reading this, I totally get why HUR is rising. It's exciting stuff even for an old campaigner like me!

Here are some bits......

It’s why the North Sea will always be one of the great basins.

That continues to be the case and we’re now seeing a renewed focus in the basin. I’m really pleased about that.

We’ve seen Hurricane Energy’s big discovery earlier this year – opening the prospect of major new resources west of Shetland
Total’s new commitment, with the acquisition of Maersk Oil.
Our own partnership in Norway with Det Norske to create AKER BP.
People will have heard me talk about the North Sea as one of the crown jewels in our portfolio.

We’ve looked at the portfolio and reshaped it.

And now we’re very focused on key areas – in the Central North Sea and in particular West of Shetland.

We’re back to growth in the basin with our Quad 204 project coming online and Clair Ridge on track for next year, with great partners in these projects such as Shell, Siccar Point, Chevron and Conoco Phillips.

We’ll be trialling new seismic capability using ocean bottom cables at Clair Ridge, along with acoustic sensors inside the wells.

We think this will completely transform the detail and clarity of reservoir imaging, as well as enabling much closer well monitoring.

We recently trialled a new method of positioning drilling rigs – all done remotely with the surveyors staying onshore, so it could prove to be a safer operation as well as lower cost.

For some areas of the business, simple standardisation could be transformational – and this focus on standardisation, simplification and discipline on cost has contributed to our average production costs in the North Sea coming down from a peak of over $30 a barrel in 2014, to less than $15 a barrel today.

Heading towards 2020, with all our major new developments coming into production, we expect that to come down below $12 a barrel in the North Sea.

...in this tough environment, we see the North Sea turning things around.
Costs are coming down and oil production is back up.


I'm sure this has all been posted before (sorry!) but here's the link.

[nw99] 27/9/2017 09:51

A bullish chart now seeing more buyers come in

[theapplefreak] 27/9/2017 09:46

The journey back to 60s doesn't seem so far away anymore.

[terry hardacre] 27/9/2017 09:16

Like you, HD, surprised to see this - bodes well and suggests a bit more dosh might need to be thrown at it

[zztop] 27/9/2017 09:10

Well done Kirk.. ..:0)

[hiddendepths] 27/9/2017 08:55

Golly - morning overhang cleared out, then up again. Very nice!

[tmmalik] 27/9/2017 08:53

After 32 next r level is 40 than 52

[bloodhound] 27/9/2017 08:15

"Still can't get Bob Dudley's comments out if my mind earlier this month, in which he mentioned HUR in his Aberdeen speech."

Twixy - If the extended Lancaster well test data comes in as expected, Bob D and Bob T will soon be shaking hands on a deal imo.

BH

[kirk 6] 27/9/2017 07:33

Roll on mid 30s today

[steve73] 27/9/2017 03:18

Little chance of oil pipeline infrastructure in the WoS, IMHO.

Fairly deep water rules out fixed platforms in most locations (OK, there are a few exceptions to this), and heavy seas rule out MOPU's, so a "ship-shaped" floater is usually the best compromise, and with a ship-shape comes the added benefit of storage - hence the FPSO.. And with FPSOs there's little need of an oil pipeline.

Gas on the other hand cannot be easily shipped, so the gas pipeline is more likely... and there's already one in-place from BP's Foinaven/Scheihallion (and this was in part justified by allowing EOR on Magnus platform). I'm unsure of how much spare capacity this p/l has, but it would be unlikely to support a FFD from the GLA/GWA and HUR's other fields... and almost certain that HUR would be unable to finance/manage a new gas P/L without a significant other partner.

Remember the EPS will be flaring excess gas (i.e. that not used for on-board power/heat) which is usually a big no-no. The relevant licensing authorities (whatever they call themselves nowadays) would be unlikely to allow a FFD with routine gas flaring, so "disposal" either injection into a suitable horizon or export would be essential... OTOH, by allowing flaring, it does indicate how keen they are to see FB tested and proven. Gas handling equipment, whether it be for export or disposal, is often more expensive than the associated oil/water kit, and would have probably killed the possibility of EPS such as we have planned.

[pcok] 27/9/2017 00:46

The beast is approaching its makeover appointment...

hxxps://www.vesselfinder.com/?imo=9276664

Tick Tock.

[gengh15] 26/9/2017 23:14

To clarify earlier posts re cash lift costs, remember the capex has been raised from equity, and convertibles. Assuming the CBs convert there is no cost of capital and no capex repayment, hence opex of c. $20per barrel is all your cost, the rest is profit.
So, at current Poo of , say $50 at the wellhead. 17k bpd gives $186m pa free cash.

[twixy] 26/9/2017 22:13

Still can't get Bob Dudley's comments out if my mind earlier this month, in which he mentioned HUR in his Aberdeen speech...smoke & mirrors, no fire without oil or just coincidence....only Bob and a medium size team will know.

[gibso6767] 26/9/2017 22:04

I'm hoping for the news to start from when the Akou Mizou reaches her destination.
And an article in The Times !

Let's hope this isn't just to today Oil 2 year high

[kirk 6] 26/9/2017 21:14

Mid 30s easily achievable tomorrow considering we hit 34p today

[davidblack] 26/9/2017 20:36

Yep a few of us do! My kids are almost!

[jacks13] 26/9/2017 20:21

I wish I was in my mid-thirties tomorrow.

[davidblack] 26/9/2017 20:15

Odd you held on Jack and then sold on a nibble higher? But good luck for your new home for your funds.

[zztop] 26/9/2017 18:53

Or is there news coming?

[zztop] 26/9/2017 18:52

Kirk I dunno about that...

[kirk 6] 26/9/2017 18:38

Hearing these will be mid 30s tomorrow

[shakudo1] 26/9/2017 18:14

Jack. Goodbye. At last