Hurricane Energy Share Discussion Threads

[mirabeau] 05/7/2018 05:41

Chevron set to divest central UK North Sea assets

04 July 2018

Commenting after Chevron announced plans to divest a package of assets in the UK Central North Sea, Kevin Swann, research analyst, North Sea upstream, at global natural resources consultancy Wood Mackenzie, said: “Chevron selling its assets in the UK Central North Sea would continue the trend of Majors divesting non-core UK assets.

"These projects are having to compete for capital on a global scale and simply won't make sense for such big companies, but could be core for a more UK-focused player.”

“It's interesting to note that it looks like Chevron is planning to keep its interest in large West of Shetland assets, Clair and Rosebank, as that too is following a trend for the Majors in becoming more focused on West of Shetland.”

Mr Swann added: “West of Shetland is attractive because it’s relatively under-explored compared to the rest of the UK, with only 160 wells drilled on it so far, versus 500+ in other areas. It also has materiality and longevity, with several very large assets already producing, and new infrastructure in place to service any further discoveries.

“It's a chunky portfolio too, with total reserves on offer of around 180 million barrels of oil equivalent and we expect production from the assets to average around 65,000 barrels of oil equivalent per day this year."

He added: “Potential buyers would depend on the price, but if one company is looking to buy the whole package, it would need to be one with deep pockets. The bigger private equity players could be interested, as could some North Sea independents and international players. However, dividing the assets up into smaller packages would widen the net of potential buyers.”


END

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It seems the focus for many majors is now WoS.

[mirabeau] 05/7/2018 05:26

MARKET REPORT: North Sea oil explorer Hurricane Energy is thrust into limelight as a BP takeover target

By Lucy White For The Daily Mail

Published: 21:50, 4 July 2018 | Updated: 21:53, 4 July 2018


North Sea oil exploration firm Hurricane Energy was suddenly thrust into the open as a takeover target yesterday.

The small discovery company found itself the limelight following a deal by BP in the Shetland region.

BP announced that it had agreed with US competitor Conocophillips to swap its stake in the Alaskan Kuparuk oilfields for Conoco’s share of the Clair oilfield, near the Shetland Islands.

The oil giant said the deal would not cost or make it any money. But its interest in the region got Hurricane investors thinking that their company, which also owns several oil assets off the Shetlands, may also be of value to the firm.

Takeover target: North Sea oil exploration firm Hurricane Energy was unexpectedly thrown in to the limelight following a deal by BP in the Shetland region

The Mail has learned that just last year, Norwegian oil firm Statoil, now Equinor, was in talks with Hurricane with a view to acquiring the UK-listed business.

The talks fell through, but interest remains in Scottish oil assets. Both BP and Equinor declined to comment on whether Hurricane was in their cross hairs.

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[prefab] 05/7/2018 04:42

Looks like the buoy is on the move, union bear and union lynx progressing around 3kts.

[xxnjr1] 05/7/2018 00:24

Hopeful Holder,

The post from fingersxxd was absolutely outstanding. I was so impressed with Fingers comments, I've re-typed them below, so you, and any others unable to view them, can benefit from Fingers insight into the technical set up of HUR share price.

"Hi hiddendepths - as you pointed out, the 48p level has been quite an obstacle during the past month. However I reckon the "main barrier" is the 50p psychological level just above, which is going to require a very sharp, strong move to break through, and it looks to me as though the price has been consolidating to build up the strength that will be needed for such a move.

Today, the price saw intra-day moves above 48p, with increased volume, and indicators suggesting a potential "crossover", all +ve signals suggesting the price "may be ready to go".

Watch for any "buys" appearing above 48.50p as the next signal for a potential quick move to attack the 50.00p level.

Whether the price can break through 50.00p, will then depend on volume, I reckon a daily volume in excess of 15m may possibly be needed.

When a "confirmed" breakout of 50p is eventually achieved, I would then anticipate the development of quite a strong underlying uptrend towards it's next initial target, which I consider to be the 62.50p level.

(Having said all that, if the price is not ready to continue higher, and starts to retrace, main support below is 45p)"

fingersxxd, thank you so much for sharing your thoughts regarding HUR share price Really appreciated by everyone, I'm sure.

[hopeful holder] 04/7/2018 23:28

Unfortunately I am unable to read the chart picture and comments on Fingers post. I hope it bodes well for us.

[laserdisc] 04/7/2018 21:44

stock on loan dropped during june 6.1 to 5.6%

[chopsy] 04/7/2018 17:19

Hopefully we will all get to understand the connections in due course as further ops updates and presentations become available along the way. For my part I agree the risers will be permanently connected to the bouy, and disconnectable from the AM whenever necessary. I really like the idea of the heavy seas deflected by the green water shield, as the AM pivots round the buoy into the prevailing.

[hiddendepths] 04/7/2018 16:59

After hours posting up of a 300k sale which was clearly being worked through the day. That presumably explains the difficulty clearing 48p. Another good auction though - a decent volume at a small premium to the closing ask price. Wouldn't take much to push it up through the resistance.

[laserdisc] 04/7/2018 16:29

3 flow lines to connect to the buoy whether these will be laid on seabed first and connected when buoy arrives don't know may find further info on sbm site they operate 13 fpso's

[bill hunt] 04/7/2018 16:22

Quite a spike in share activity in the last few minutes.

[greyingsurfer] 04/7/2018 16:06

xxjnr/steve


I kind of assumed that as the FPSO was originally designed to be dis-connectable as a producer in adverse weather conditions, then the operation to re-connect again cannot be that time consuming.

That's what they say - that it's disconnectable in severe weather. It's also my assumption, as yours that cannot be a slow process - and it certainly won't involve dropping the risers. It's quite possible, of course, that the initial connections to the buoy can only be made after the FPSO has connected to it - but I don't really see why.

laserdic

I had a look at the Bluewater schematic this morning, the problem is that is a different system - it's intended for a shuttle tanker to moor to, it's not a heavy weather rotatable internally connecting buoy for an FPSO as the Lancaster system will be. So I'm not sure how much it tells us about how the connections will be made.

Peter

[xxnjr1] 04/7/2018 15:56

Rethinking my previous, maybe the connection of risers/umbilicals to buoy can only occur once buoy itself is in-sutu on the FPSO? Once risers connected to buoy, then FPSO should have dis-connect/re-connect ability, not that HUR are planning to do that.

[laserdisc] 04/7/2018 15:34

as you know All my posts are my opinion, from info easily obtained in the public domain, its gearing us up for the news

[bloodhound] 04/7/2018 15:27

Laser - Not sure of the cost of an RNS but HUR could save a fortune on them if peeps read your boat movement posts ahead of official news...;-)

BH

[laserdisc] 04/7/2018 15:24

My view and my view only
The rig move has started, my opinion they will be lifting 8 anchors over the next few days, so this takes us into week-end. every possibility it will be complete by Monday


Lerwick Buoy could move any time, depends when normond installer approaches stopped presently,
100POB
all crew may be having a short break , plenty aboard.
Think buoy moved out of harbour away from shipping traffic lanes Union bear and Union lynx still showing wait while camera pans to view

[bloodhound] 04/7/2018 15:23

I think Roger Bannister breaking the 4 minute mile barrier proved easier than HUR breaking the 48p barrier...

BH

[xxnjr1] 04/7/2018 15:14

thanks laserdisc.

[prefab] 04/7/2018 15:04

LFDMK - It's like watching 2 bald men arguing over a comb.

[laserdisc] 04/7/2018 15:01

may help www.bluewater.com/wp-content/uploads/2013/04/digitale-brochure-TurretBouy-Tech-description.pdf
CLICK NEWS THEN BROCHURES
PDF Turret Buoy Technical Description

[telbap] 04/7/2018 14:48

Got to go read that.......

[mad foetus] 04/7/2018 14:47

WTF does this have to do to break 48p?

[lfdkmp] 04/7/2018 14:30

I don't post on lse but sometimes wish I did.

Delightful three way exchange moments ago with the thread's most verbose poster throwing (himself as well as) his toys out of the pram,.... the protagonist apologising to everyone including taxi drivers.... and the third doing a very passable impersonation of Manuel, and insisting that he knows nothing.

Pure comedy.