Harbour Energy Share Discussion Threads

[deanroberthunt] 23/8/2018 07:39

H1 2018 was always going to be a consolidation period whilst Catcher ramped up to full production, only achieved at end H1....now the deleveraging really starts in earnest for H2 and into 2019.....the stock market is forward looking

[rationaleee] 23/8/2018 07:29

So Premier expects to receive net cash proceeds of US$64.3 million for Babbage asset in Q4.

This is unbelievable ; "Vietnam operating costs remain low and stable at US$9.6/boe (2017 1H: US$9.0/boe) and below budget. This, together with the robust production performance and the continuing premiums to the Brent oil price commanded
by Chim Sáo crude, resulted in the Vietnam Business Unit contributing gross operating cash flow of over US$100 million during the period"

First half cash flow from operations was $276mn and out of that Vietnam alone contributed $100mn ?!! Wonder what all other assets have been contributing then??

Why are we not expanding and acqiuring in Vietnam instead of other regions? We should email TD and ask him, why Vietnam is not a focus for acquisitions or expansion?

[adg] 23/8/2018 07:29

You on spacecake you muppet?

[spacecake] 23/8/2018 07:25

Overall global output dowm. 10 year to reduce the debt to something more comfortable assuming the management don't go building castles in the air over that period.

[steve73] 23/8/2018 07:15

Catcher now up to 70kbopd.... nice.

[prewar] 22/8/2018 18:59

Posted on other thread too



Could be interesting to see impact upon POO

[prewar] 22/8/2018 18:58

Could be interesting to see impact upon POO

[prewar] 22/8/2018 17:20

Fitton, most of the shorters will be hedging against the shares they will be receiving from the upcoming conversion. It will be costing them little or nowt, much the same if the share price falls.

[fitton] 22/8/2018 16:16

It would be nice to think the buying is sufficient to cost the shorters some serious money

[adg] 22/8/2018 14:18

I have recently become involved (small contract for engineering consultancy) with a BW FPSO project.

[louke] 22/8/2018 14:14

From UPSTREAM: Premier in talks with BW for Sea Lion FPSO

Pair in negotiations about vessel for Falkland Islands project after collaborating on Catcher floater off the UK

[deanroberthunt] 22/8/2018 11:25

suck my balls x 2

[deanroberthunt] 22/8/2018 10:45

time for the big push to 2 squid

[steve73] 22/8/2018 08:49

Sept WTI expired yesterday. Oct-Nov indicates backwardation (suggesting it's overpriced or oversupplied), yet Brent Oct-Nov is in contango (so price is likely to rise).
I read recently that some landlocked grades of US/Canadian crude are selling at a $30 discount to WTI, due to insufficient transportation capacity.
Glad that PMO's production is all Brent referenced...and it's looking up today.

[deanroberthunt] 22/8/2018 07:44

first gas BIGP 2019 4-5Kboped
first gas Tolmount Q4 2020 20-30kboped

maybe they can increase their stake in Catcher given a slightly higher POO

[deanroberthunt] 22/8/2018 07:43

all looking very bright

[deanroberthunt] 22/8/2018 07:40

So BIGP should cover any natural declines until Tolmount comes on stream.....be good if they could increase their stake in Catcher, but I doubt if that's possible with the focus on debt reduction...unless POO booms over $80 and holds

[deanroberthunt] 22/8/2018 07:30

and this is under the radar to most, think it's around 4-5kboepd to PMO

In Indonesia, the BIGP development project in Natuna Sea Block A is proceeding well and is on budget and schedule for first gas in 2019 and will backfill our existing Singapore and domestic market contracts. Following the signing of the Memorandum of Understanding between Petrovietnam, Premier and SKK Migas (on behalf of the Indonesian Government) for future gas sales from the Tuna Field (Premier equity share: 65 per cent) in Indonesia into Vietnam, a farm out process has been launched ahead of further appraisal drilling in the area planned for 2019.

[deanroberthunt] 22/8/2018 07:26

It's all falling into place....results tomorrow

[manics] 22/8/2018 06:32

23 August 2018
Half Year Results for the 6 months to 30 June 2018

[oilretire] 22/8/2018 06:26

Credit for the link to fitton on the other thread




James Carmichael, analyst at Peel Hunt, said: “This project is important for Premier as it should maintain UK production and cash flow beyond 2020 as other key projects come off plateau.

On the infrastructure agreement, he said: “Vendor financing has become more prevalent recently, but this is the first specific infrastructure/tariff agreement that we can recall.

“The main benefit is that it limits the draw down on Premier’s balance sheet at a time when debt reduction remains a priority for the company.”.......

......Ross Dornan, Oil and Gas UK’s market intelligence manager, said: “This is a clear example of how companies operating on the UK continental shelf can successfully adopt collaborative and innovative commercial models to re-scope a development concept.

“It demonstrates the value of upstream and midstream operators working closely together to stimulate investment and deliver a project that is critical to maximising economic recovery from the UK North Sea, ensuring continuation of an indigenous gas supply as well as providing new activity for supply chain companies.”