Hurricane Energy Share Discussion Threads

[pro_s2009] 14/1/2021 07:29

Oh dear......Water cut is going up fast.

18th Dec



Water cut 23%


14th Jan Todays now

Now 25%

[leoneobull] 14/1/2021 07:24

Thu, 14th Jan 2021 07:00

RNS Number : 6155L
Hurricane Energy PLC
14 January 2021

14 January 2021

Hurricane Energy plc



("Hurricane" or the "Company")



Trading and Operational Update


RNS

Hurricane Energy plc, the UK based oil and gas company, provides a trading and operational update ahead of its results for the year ended 31 December 2020. This information is unaudited and subject to further review.

Antony Maris, Chief Executive Officer of Hurricane, commented:

"Production in line with expectations, a December lifting from Lancaster, and higher oil prices combined to deliver a $19 million increase in net free cash at year-end compared to end November 2020. A continued recovery in oil prices would further enhance the significant value we see in our West of Shetland portfolio. As previously reported, we are currently engaging with our stakeholders on a proposed development plan for Lancaster and its associated funding, in order to maximise the potential value of our assets."


Trading Update

· Production for the final four months of 2020 averaged 12,500 bopd, within guidance

· Production and oil sales for the year ended 31 December 2020

o Production: 5.1 MMbbls (average of 13,900 bopd)

o Oil sales: 5.1 MMbbls across 12 cargoes

· Operations

o Aoka Mizu FPSO uptime of 98% during 2020

· Key financials for the year ended 31 December 2020

o Revenue: $179 million

o Realised annual weighted average oil price of $35/bbl, or a $7/bbl discount to Dated Brent, including transportation costs

o Discount to Dated Brent of $2/bbl in H2 2020, compared to $10/bbl H1 2020, as oil price volatility reduced

o Year-end net free cash1: $106 million, compared to $87 million at 30 November 2020
Oil production in the fourth quarter of 2020 averaged 12,700 bopd, which was lower than the third quarter primarily due to a decision to limit production from the 205/21a-6 well to c.12,000 bopd in November 2020 for reservoir evaluation and management purposes.

Oil production for the period 1 September 2020 to 31 December 2020 averaged 12,500 bopd, within the previously announced guidance range of 12,000 - 14,000 bopd.

The Lancaster field continues to produce from the 205/21a-6 well alone, with current production of c.12,100 bopd on artificial lift and a water cut of c.25%.

The 19th cargo of Lancaster oil was lifted at the end of December 2020.

[leoneobull] 14/1/2021 07:17

FCF up 19m USD in a short period of time....2021, i can see enough revenue to tide us through to the sidetrack being done.

[leoneobull] 14/1/2021 07:16

BRILLIANT news!!

Discount to Dated Brent of $2/bbl in H2 2020, compared to $10/bbl H1 2020, as oil price volatility reduced. SO H1 2020 we know from Sept 11 that av. selling price was 30 USD only. With Brent at 55 USD ++ and only a 2 USD discount that's say 53-57 USD in coming mths

BEST news...WC stable....26% Q3 , 25% Q4 av. that says relatively stable to me, so the 60 odd m higher up that well 6 is compared with 7Z could avoid same fate for 6 as for 7Z? That should tide us over until the sidetrack?

WOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO

[leoneobull] 13/1/2021 18:21

"When the rampers are out as they are now, be careful". Reminds me of the TXP BB!!!

[leoneobull] 13/1/2021 17:55

Ask yourself if you are uninvested , why are you here 7 days a week?

[ngms27] 13/1/2021 17:07

Ask yourself a few questions;What's the current production?What's the current water cut?What does the trend look like?When would a 7z sidetrack be drilled and brought on line?What's happening with reservoir pressure, how close to bubblepoint now?Are they going to get funding? If so at what cost to equity?How will they be able to commit to renewing the AM in June? If they do under what terms?

[back2basics1] 13/1/2021 16:28

And what about de-rampers who think that they own this bb and are here 24/7?

[back2basics1] 13/1/2021 16:28

And what about de-rampers who think that they own this bb and are here 24/7?

[ngms27] 13/1/2021 16:21

When the rampers are out as they are now, be careful. They generally want unsuspecting PIs to raise the share price so they can place a more effective short.

[monkeybusiness1] 13/1/2021 14:40

Now with lot higher POO already here and still rising, opportunity for HUR share price at these lowball valuations to soon become a serious multibagger is clearly knocking, so IMOO, time to be brave here when others are fearful, DYOR.

[canetois] 13/1/2021 10:52

"Much higher Oil prices are now just around the corner."

Looks like much lower Share Prices have already arrived.

[cashisking76] 13/1/2021 08:57

Much higher Oil prices are now just around the corner, and this bodes very well for undervalued producers like HUR with potentially rich acreage to further explore and develop.

“The Oil Industry Is In Dire Need Of Investment”:

[pro_s2009] 13/1/2021 08:32

Only problem is the word........... COULD

So what he is saying is........

“by re-entering and side-tracking the existing 205/21a-7z well. This COULD add meaningfully to the production capacity from the existing 205/21a-6 well, accelerate production of existing reserves, and, depending on oil price, materially improve near-term cashflow generation.”

And also at the same time

“by re-entering and side-tracking the existing 205/21a-7z well. This COULD ALSO FAIL AND NOT add meaningfully to the production capacity from the existing 205/21a-6 well, NOT accelerate production of existing reserves, and, depending on oil price, NOT materially improve near-term cashflow generation.”


Damn that world "could". Its like the BBC and anti-Brexit "may" "might" "could" "perhaps"...........

[back2basics1] 13/1/2021 08:12

Rapidly rising POO is clearly the big elephant in the room here, and now looking very good for HUR plans/relating funding, and huge forward potential, DYOR.

Antony Maris:
“we continue to believe there is significant value in Lancaster and our broader West of Shetland portfolio, and we remain focused on delivering that value for the benefit of our stakeholders."

“by re-entering and side-tracking the existing 205/21a-7z well. This could add meaningfully to the production capacity from the existing 205/21a-6 well, accelerate production of existing reserves, and, depending on oil price, materially improve near-term cashflow generation.”

[ngms27] 13/1/2021 07:58

Halifax failed with low effective permeability. It's a write off in anything but name.

[comedy] 13/1/2021 07:19

Can understand falling over when poo was low, now? Really? Volume gives a clue?
Too many vested interests? Plus unlike
A lot of aim oil stocks that produce
No oil but have huge mcaps?
How much oil per day do we produce?
Enough? For this story to continue?
Gkp is a business case study , fortunes
Made and lost. Hur similar story ???
Time for the next up wave?

[leoneobull] 13/1/2021 06:03

Yep. Do paper deal with bigger player that could repackaged the debt easily. Strategically sbdy may want our acreage who can afford appraisal e.g. at Halifax

[leoneobull] 13/1/2021 06:02

57.2 USD brent .... should concentrate minds for funding the FWP

[thefrontdoor] 12/1/2021 19:38

No need to go bust...should all else fail.... there's always this way out....(PMO share price up 8% as a consequence.)

[jotoha2] 12/1/2021 19:09

Higher lows , certainly not going bust , and maybe it will impress the doubters yet.

[leoneobull] 12/1/2021 18:59

Great to be lectured about bad investment decisions in HUR by......people that have themselves made bad investment decisions in HUR.Wish I'd never heard of Dr T, but as I'm long, let's keep the vague flicker of optimism alive. As Ggg Ggh says, the widespread pessimism may be misplaced. C'mon CA and the Hur management team.

[comedy] 12/1/2021 16:59

a hell of a lot of trades today? volume almost balanced?

price being held to close shorts?

[ngms27] 12/1/2021 16:54

I choose to believe Sir Isaac Newton above CA.

[daltry] 12/1/2021 16:51

I read you composer. Thank you.