Hurricane Energy Share Discussion Threads

[chopsy] 02/6/2019 18:16

So I was wrong about FOIL Friday. Credit to the Monday/Tuesday crew. I hope it's Monday. What's the betting? I would like the rns to say something like "during the startup period each of the wells individually was tested at rates up to 20000bopd, using esp, with minimal pressure drop. Flow rate now stabilised at 10kbopd each, combined 20k, prior to further alternating shut in testing"

[chopsy] 02/6/2019 18:11

Waterloo: when we are at full production rate when EPS is stabilised after six months, it will be around every 3 weeks. So now perhaps 5 weeks after FOIL.

[bill hunt] 02/6/2019 17:59

Grampian sovereign on its way back to Aberdeen.

[wolansm] 02/6/2019 17:54

When it's filled, when else

[waterloo01] 02/6/2019 17:28

Apologies if already mentioned recently but when might we expect the 1st offload of oil into a tanker?

[realalemadrid] 02/6/2019 17:04

Drewster - i find it hard to disagree with you on most of your comments, however some credence should given to the fact that the current scientific testing of both wells is extremely accurate, so this data will be used as the current & only benchmark, the produced water % will also be a critical factor.
Historically this share price has been a rollercoaster affected by funds & chance takers, which is normal, other factors being market volatility.
I would like to think that this coming week will catapult this company into a new status as a real player with the lower league big boys with aspirations leading to the FTSE and who knows, the potential is truly mind boggling..

[ccr1958] 02/6/2019 17:02

Drewster, 10/1 ??? More like odds on 1/10.

[the drewster] 02/6/2019 14:51

It doesn't matter what the PI is, the whole value will only start to be appreciated once this particular geology, and its production profile over time, can be analysed with enough meaningful data.

There will be ups and downs along the way, profit taking on every rise no doubt, but the risk reward profile is well within my comfort zone. Would I back HUR to deliver full potential at 10/1 in a William Hill betting shop? Oh, yes indeed I would.

[robbiekeane] 02/6/2019 14:39

Maddog68 I'm with you on that, I've got a banging hangover and nothing to show for it. next season perhaps...

[steve73] 02/6/2019 13:02

jacks... I was answering an earlier question about off-take metering as well... I only threw that last bit in for you when I realized I'd missed answering you..


There is probably already some inlet metering, so that they know exactly how much is coming from each current well without otherwise needing to shut one of them in...

Or there may be a test separator on the FPSO as well... I cant recall the details.
But since this EPS is primarily designed for reservoir testing purposes, then I'm pretty sure the FPSO will be set-up to maximize data collection.

edited... oily, yes, allocation by difference would probably be acceptable to OGA here, but for the reasons above, I'd suggest that HUR probably want a better (and more immediate) handle on it.

[oilretire] 02/6/2019 12:35

There are cases where 'metering by difference' will be accepted as fiscal standard for tie backs.

Often used where the cost of new metering package will be offset against a routine closure of the non-fiscal tied back well to determine the flow rate against the rest of the fiscally metered production.

[zztop] 02/6/2019 12:33

Lancaster pi index best on the planet..A reminder.Flow testing hit an equipment constrained maximum of 14,500 bopd from one of two wells intended for the EPS, quite how much more can be flowed can at the moment only be speculated upon.It is that reason that investors in the North Sea oil firm are suddenly conversant in technical terminology normally reserved for oil field engineers.Specifically, the attention is on the well's 'productivity index' or PI which in the most recent well had a read out of 147 b/d per psi (that's barrels per day, per pound per square inch of pressure).Simplifying that somewhat, WH Ireland analyst Brendan Long last week explained that it essentially meant that the well could deliver an additional 10,000 bopd through increasing drawn-down pressure by 68 psi – an amount he described as "almost nothing".Hurricane Energy chief executive Dr Robert Trice, speaking during an interview on Tip TV, put the PI into an even more investor friendly context."It [the PI] is extremely good ... It is up there with the most efficient reservoirs on the planet," Trice said.

[oilretire] 02/6/2019 12:32

Agree, my reply was more to Jacks than Steve.

As he says there are very tight fiscal controls on metering of products in the industry.

[jacks13] 02/6/2019 12:26

Thanks Steve, your last paragraph is perhaps the most relevant to my question. Up until Spirit's farm-in, both connected risers would have been GLA only, might arrival metering have been omitted entirely?

[greyingsurfer] 02/6/2019 12:22

Indeed, so it's entirely possible that they will use BP to market any oil from GWA/GLA. Though that certainly doesn't mean that thorough metering, as Steve describes, won't be installed and used.

[oilretire] 02/6/2019 12:08

Don't confuse BP North Sea with BP trading. They'll just be using BP's marketing arm to trade/sell the production.

[steve73] 02/6/2019 12:01

The FPSO will have a "custody transfer meter" just before the oil goes into the export hose. This will be a positive displacement meter (or possibly turbine type), and possibly backed-up with a "coriolis" (mass flow) meter, and should be accurate to better than 0.01% (IIRC), so 50bbls in a 500kbbl shipment. The receiving shuttle tanker will also have a custody transfer meter of similar accuracy. In this way there is no risk of either party "ripping off" the other.

Also, by comparing the volume discharged and received, the export will immediately be stopped if there is any discrepancy, to minimize anything leaking to sea. (This is how I designed such systems many years ago, and I doubt they've changed much.)

The shuttle tanker will then compare its own offloading metered volumes to that received by a terminal or refinery... Checks and balances all the way down the line...

It would be all too easy to "leave a bit of crude in the shuttle tanker" and then when it gets used next (eg. for Foinavon), they could discharge more than was actually loaded there.

Once the GWA well is connected (via it's own dedicated riser) it will have its own arrival meter before it's co-mingled with Lanc. oil (before the swivel), and there'll be some complex maths to ensure the oil exported is allocated correctly to each applicable field - depends on GOR and any water content of each field.

edit to add.... There is probably already at least one multi-phase flowmeter for the incoming existing wells (that can be individually routed through it, to check for any water being produced), so this would be suitable for GWA as well.

[jacks13] 02/6/2019 11:35

Just been looking again at the AIM Admission Document; in particular the terms of the BP off-take contract, these stipulate that:

'..Hurricane agrees to supply and sell its entire entitlement to the crude oil produced from the Lancaster Oil Field (Block 205/21a) to BP ...'

(

The agreement stipulates GLA only, not GWA. Does this mean addition/separate metering has been fitted to independently account for the Warwick production? Might explain the visit of the 'selfie' (BP?) technician.

[greyingsurfer] 02/6/2019 10:45

SB, I think TG was suggesting "leaky" in the sense of information. I was just playing around.

[ltinvestor] 02/6/2019 10:09

SoldierBoy.Just a wind up.Take care LT

[telbap] 02/6/2019 10:03

LSE board has nothing of note I can see on it. 21 hours and we will know for sure

[soilderboy] 02/6/2019 09:29

Missed the news on a leaky FPSO. Can't find it either other than on this board.Can anyone enlighten me please?

[whitegold1] 02/6/2019 07:09

Madog ... sadly, the occasion got to them I reckon. Lpool dire too ...poor game. Ps You wanna try being a loyal Toon fan mate!

[ccr1958] 01/6/2019 22:40

I got a sell order in @ 120p... This is big .