Hurricane Energy Share Discussion Threads

[cyrilsneer1] 04/10/2021 14:03

POO just popped above $80, next news here is critical.

[hiddendepths] 04/10/2021 11:32

If you want to invest in gassy stocks, try dyor on SQZ, IOG, KIST and DELT rather than HUR. In the interest of full disclosure I have all 4!

[wbodger] 04/10/2021 11:16

Steve73 I was listening casually at the weekend at an oil-price alarmist who translated the current gas price as the equivalent of $190/barrel oil. He was using it to argue that there would be more energy price increases for homeowners in this spike.

It's just a shake-out, a symptom of capitalism at work. It is always daft to overexpand during the spike, as the long term price could be uneconomic, and you lose the company as well as the asset.

But I remember there was an awful lot of gas at Warwick in a conventional reservoir, and a WOSP extension plan was drawn up cutting right across Warwick. I suspect HUR has probably no interest in Warwick now, and it is the sort of project for a specialist anyway. Eg. Spirit, but they didn't want it.

It seems a waste, but there is no way HUR has free funds to connect Lancaster gas all the way to WOSP, even if they could negotiate access. (It might need pre-processing too.) Pity, with the Shetlands so close.

[dave999dave999] 04/10/2021 09:51

unless someone steps in to assist. we import most of our gas, yet we throw away what is under our feet (sea). A bit of joined up thinking... Yes i agree it might be too late or not be profitable straight away. BUT it is not like there is a lack of space. Invest or indeed lease a chunk of the field in some kind of joint venture could be the way. If this government decided to try to rebalance a bit on self sufficiency, things could happen. not a subsject to discuss befor cop26 though is it. we need to make fertiliser and CO2 regardless of a move to heat pump and solar tech for home heating. in fact the factory that makes the heat pumps probably needs natural gas. houshold waste dosn't produce enough.

hurricane needs some assistance breaking the eggs and turning the whisk...but they could certainly apply their expertise to making the omelette

or maybe its all just mayonaise

oil+water+gas+ egg white=

i'll get me coat

Dave

[hiddendepths] 04/10/2021 09:29

Steve - quite so, and then there's the very real possibility of the well being permanently shut down before the gas work could be completed!

It was a good question but it ain't gonna happen.

[stockhunters] 04/10/2021 08:13

oil to $80

[steve73] 04/10/2021 01:14

super... my notes from years ago suggested the gas tie-in (incl. SS-flowline, new riser, top-side mods incl. any gas compressor refurb) would be around $60 MM (but I have no other ref., and can't remember where it came from). Did not incl. tarif obviously.

At that time (and then gas price), it was simply a no-profit "enabler" to allow oil rates above 20kbopd, and there was only GOSP ullage available until 2023.

So even now it's still borderline at best (for the ESP) and there's no guarantee the high gas prices will remain.

[super95] 03/10/2021 21:43

dave999dave999
Regarding gas this was recently posted on another board:
With gas prices having risen, and If my calculations are correct the current gas production is worth £69,440 per day or $35m per annum. Would it be profitable to pay for the tie in to the W0SP? Anyone an idea of the cost. Apart from additional revenue it would resolve the flaring issue and earn brownie points with the OGA.

So does anyone have an idea of the cost?

[stockhunters] 01/10/2021 11:33

nice cashflow now

[hiddendepths] 01/10/2021 10:46

stockhunters - you post an awful lot for someone who appears to know very little and understand still less. Maybe post less, read more and try to learn instead?

[stockhunters] 01/10/2021 10:37

huge monthly cashflow

[stockhunters] 01/10/2021 09:58

oil still near highs

[dave999dave999] 01/10/2021 09:47

well it will all come down to employmnet contracts anyway, some times you just have to suck it up until you can eject those that you no longer want to employ, especially if you don't want to pay them a massive chunk of cash.. unless of course you can prove gross misconduct.

I guess we'll see in the first week of November

Dave

[bobsworth] 01/10/2021 09:40

Senseman - rec'd an email reply too!

"The non-executive Directors understand and share your concerns and have begun to investigate these matters.

We will convey our findings within a month."

[dave999dave999] 01/10/2021 09:29

yes its miles from anywhere i thought that might be the stumbling block but i have no clue about transportation of gas, i just had visons of a compressor and big orange boat with calor on the side......

reserves have always been quoted in barrels of oil as far as i can remeber, loads of it, or a lot less depending on which competant person you like today.
nobody has said much about gas, other than in relation to flaring not being allowed to flare it, and production ending because of it.

just reminds me of the attitude to coal in the 20s 30s the good stuff was sold as fuel the rest was used for railway embankments across the north, what went into the railway embankments is now conidrered to be good fuel coal, many a house near a dissuesd line has taken advantage

today's waste product could be tomorrows gold, that was my thinking,

I invested in a scientist not oil comapny if you catch my drift
its served me well with my small time punts in a number of places but not here, yet....

:)

[ngms27] 01/10/2021 09:16

Have a look where Lancaster is. Have a look where the nearest Gas pipeline is. Have a look at the reserves left on Lancaster. Next.

[dave999dave999] 01/10/2021 09:12

with the crunch on natural gas, russia turning off the feed as it were, you'd expect the OGA would be looking at anyone UK based who had a fighting chance of filling the short fall you'd be expecting them to be making suggestions/allowances and trying to pair up buiness that have access to lots of it with those that know how to shift it to the right place.

maybe i'm naive and stupid isn't it just a case of a great big pipe.... Savanah eneregy makes pleaty $$$ on the gas front, but are predomintaly an oil buiness, is hurricane's well just not close enough or too deep or do they not have the infrastructre or the money to make some cash from gas?

I don't care what they pull out of the well as long as they can sell it.


in the late 60s gas was just a by product of our newish north sea oil industry, the uk was going to be a utopia of cheap eneregy with almost free heating gas for all.... what happend?


Dave

[stockhunters] 01/10/2021 07:59

winter for oil

[tradoil] 01/10/2021 06:39

Senseman - I have received a reply from the NED's. To the effect they share our concerns. Investigation has started and will report within a month.

Good work yesterday. Thanks Trad

[stockhunters] 30/9/2021 21:19

kooba all a game of chess

[officerdigby] 30/9/2021 18:06

And let's not forget permission was granted.."..Hurricane Energy plc, the UK based oil and gas company, is pleased to announce the approval of the Lancaster Field Development Plan Addendum (the "FDPA") by the UK's Oil and Gas Authority (the "OGA").The FDPA approval, together with associated production, flare, and vent consents, enables production with the flowing bottom hole pressure up to 300 psi below the bubble point pressure of the fluid (1,605 psia at 1,240 metres TVDSS), subject to the Company ensuring that no incremental liberated gas is produced to surface.The initial consent is for a three-month period from 16 June 2021 to 15 September 2021. Production, flare, and vent consents will be issued on a three-monthly basis. The Company will regularly provide the OGA with data to demonstrate conformance with the consent conditions.In line with the FDPA, the Company will ensure that no incremental liberated gas is produced to surface and commits to choking back or shutting in any well which may produce incremental gas liberated due to below bubble point production..."

[kooba] 30/9/2021 18:00

And the approval with OGA ..no comment on three month rolling permission past bubble point yesterday ..or the assistance in long term reservoir management..and optimising field performance..oh no.17 June 2021Hurricane Energy plc("Hurricane" or the "Company")Lancaster Field Development Plan Addendum ApprovalHurricane Energy plc, the UK based oil and gas company, is pleased to announce the approval of the Lancaster Field Development Plan Addendum (the "FDPA") by the UK's Oil and Gas Authority (the "OGA").The FDPA approval, together with associated production, flare, and vent consents, enables p roduction with the flowing bottom hole pressure up to 300 psi below the bubble point pressure of the fluid (1,605 psia at 1,240 metres TVDSS), subject to the Company ensuring that no incremental liberated gas is produced to surface.The initial consent is for a three-month period from 16 June 2021 to 15 September 2021. Production, flare, and vent consents will be issued on a three-monthly basis. The Company will regularly provide the OGA with data to demonstrate conformance with the consent conditions.In line with the FDPA, the Company will ensure that no incremental liberated gas is produced to surface and commits to choking back or shutting in any well which may produce incremental gas liberated due to below bubble point production.The approval of the Lancaster FDPA satisfies a key condition of the Company's proposed financial restructuring, as originally announced on 30 April 2021.Antony Maris, CEO of Hurricane, commented:"I would like to express my thanks to the OGA technical and management teams for the open-minded approach they brought to these discussions. This approval, whilst not having any immediate impact on the reservoir performance of the Lancaster field, will assist with longer term reservoir management, enabling us to optimise the field's performance. Approval now, while we still have some months before we reach bubble point, will allow both us and the OGA to establish base line performance and to test the three-month approval process."

[kooba] 30/9/2021 17:39

On bubble point ..the revised CPRHurricane has submitted an amendment to the Lancaster field development plan ("FDPA") to the UK upstream regulator, the Oil and Gas Authority ("OGA"), to allow for production below bubble point. Hurricane is in constructive discussions with the OGA to obtain the FDPA to permit ongoing reservoir management on this basis, subject to quarterly review of operating procedures to ensure gas liberated in the reservoir is not produced. Hurricane has a reasonable expectation that an approved FDPA is likely to be forthcoming.