I3 Energy Share Discussion Threads

[gusto01] 28/10/2022 15:40

Let's stick to facts only....No politics etcAnything else is just noise.GLA

[amoslor] 28/10/2022 15:08

Thanks for replying. Feel he same BUT have been using them for so long now and this is the first hiccup. When i3 comes good it will be a distant memory , fingers crossed

[hoper1] 28/10/2022 15:07

Are you in Kirby Steven?

[mikealig] 28/10/2022 14:44

amoslor, Same for me with idealing and have been given the same response to my emails. Could start getting confusing if not paid before next Friday when the November divi is due. It's a pain but think I'll move to A J Bell.

[edgein] 28/10/2022 09:50

The Abbot,

That's the one! :)

Regards,
Ed.

[mattybuoy] 28/10/2022 09:31

As Edgein says condensate is used to dilute very heavy oil and bitumen for transit through pipelines (and in rail tanker cars). When condensate is used for this purpose it is called "diluent" and the blended liquid is referred to as "dilbit". As the oil sands produces so much bitumen there is a perpetual shortage of locally produced condensate. I believe they may also import it from the US.

[amoslor] 28/10/2022 09:23

Divy again.iDealing have still not paid this month's divy.They say the cheque has not arrived and are awaiting payment by electronic means . Anybody at all received their divy from idealing ? Sorry for off topic.

[diarybeach] 28/10/2022 09:06

There is something very unlikeable about Goodday1. He reminds me of a sneering playground bully who likes to brag about his holdings.

[edgein] 28/10/2022 08:59

Dough,

From memory the oil production was around 2,200bopd can't remember if that was from a presentation or the finals.

Why does condensate get such a large premium in Canada? Well its a bit like Colombia, due to producing so much heavy oil. For refining heavy oil is hard to process but when blended with condensate it becomes more like medium oil. So demand for condensate in Canada is high. Also another use for condensate in Canada, something that I found out recently, is that its also used for cleaning out wax build up in wells. So workover uses too.

Regards,
Ed.

[doughcyclone] 28/10/2022 08:48

Yes thanks for the informative posts.

So do we know roughly out of the 4k bopd how much is oil and how much is condensate? Why does condensate trade at a premium to oil and is this normal or more of a temporal effect due to the “energy crisis”?

[tournesol] 28/10/2022 08:12

Very informative contributions last night and this morning. Thanks to all the posters.

[edgein] 28/10/2022 08:03

The abbot,

That's oil and condensate you're quoting there, not just oil:

"Q2 Production

Production in Q2 2022 averaged 19,502 boepd, comprised of field estimate sales equalling 60.8 million standard cubic feet of gas per day ("mmcf/d"), 5,099 barrels per day ("bbl/d") of natural gas liquids, 3,886 bbl/d of oil & condensate and 385 boepd of gross overriding royalty interest production."

C5+ unhedged, oil hedge is 230k bbls for Q3 and Q4 or about 1277bopd hedged at $CAD $94.15/bbl.

They reported in the past about the premium that condensate (C5+) gets, it was quoted about CAD$124/bbl.

Regards,
Ed.

[moonshot3] 28/10/2022 07:48

Thanks MB. Difficult to get under the skin of it then. But what seems clear is that production is quite diversified which I take as a good thing.

[edgein] 28/10/2022 07:44

Matt,

I3E production is about 50% liquids from last numbers, the bulk of that is NGLs and C5+ (condensate). Oil makes up about 10% of I3E's total production and the vast bulk of that oil is hedged. They've only really started drilling the clearwater this year, but as we move forward their heavy oil production is likely to grow as a total of overall production. Moves in the oil price has negligible impact on the NOI at present, what has much more impact is the weakness of the £ vs CAD, or $ as I3E quotes in USD. That impacts on all production, hedged and unhedged. Cashflow will remain very strong here and likely to get even better for next year from a growing production base.

Regards,
Ed.

[pro_s2009] 28/10/2022 00:18

As Mattybouy says, I3E produce some of everything. Heavy, light and NGL.