Harbour Energy Share Discussion Threads

[peteret] 05/7/2019 23:06

All this talk of renewables is pie in the sky.1% of new cars are electric. If we all changed to electric next year there are not enough power stations to make that sort of Power even if we did there are very few charging points and the government has removed the subsidy. This is just a waiting game.Oil is still king and will climb again.Have any of you looked at how much more an electric car is compared to petrol.The government want to cut emissions then give the go ahead for a new runway it's ridiculous.The government want to cut emissions then give the go ahead for a new runway it's ridiculous.

[onedb1] 05/7/2019 19:05

Another new alias .... the 7th now ? the desperation of Stan smith who creates a new alias every week. Lol . You are a sad individual can't even change your very same messages and language . Maybe take some time to seek help with your local village doctor . Another alias that will get blocked btw . Funny bit is you say you block me too but then you follow me wherever I post , rabidly Obsessed and have to create a new alias for me to read you every other week. Mate am not into your weird fetish . Find someone local to help you . It's not normal to have such an obsession honestly seek help . I won't hold my breadth . But am being serious seek help .

[evan8] 05/7/2019 16:56

Onedb must be one of the only idiots left that thinks the falling rig count is bullish long termFollow the smart money, not two bob wannabees like him and whiskey

[osirisra] 05/7/2019 14:48

Shale break even point. I had that $40 figure in my head from somewhere and I've just been Googling. I've come back with break even prices of:
$24
$40
$80

I give up!

[onedb1] 05/7/2019 14:06

Hi Osirisra .I echo the post below . A lot of sources tell me break evens are low for some majors but many if not most peripheral firms are just producing to pay the banks . I use XLE and USO and the latter in particular has a similar chart to PMO . In terms of relative strength we have to see it coming back as for now we are underperforming . But in terms of fundamentals PMO is reducing debt and on track operationally. Adding consistent value in terms of new fields or improved production expectations . The last presentation certainly showed that . I keep my 180-190 target . Higher that 150 by RBC

[whiskeyinthejar] 05/7/2019 13:44

osirisra- if shale had a $40 break even, shale wouldn't have made huge losses in Q1 of this year.



"The report studied 29 North American shale companies and found a combined $2.5 billion in negative free cash flow in the first quarter. That was a deterioration from the $2.1 billion in negative cash flow from the fourth quarter of 2018. “This dismal cash flow performance came despite a 16 percent quarter-over-quarter decline in capital expenditures,” the report’s authors concluded.

They argue that the consistent failure for the sector as a whole to generate positive free cash flow amounts to an indictment of the entire business model.."

"Rystad Energy put it somewhat differently, although came to the same general conclusion. “Nine in ten US shale oil companies are burning cash,” the Norwegian consultancy said late last month. Rystad studied 40 U.S. shale companies and found that only four had positive cash flow in the first quarter. In fact, the numbers were particularly bad in the first three months of this year, with the companies posting a combined $4.7 billion in negative cash flow. “That is the lowest [cash flow from operating activities] we have seen since the fourth quarter of 2017,” Rystad’s Alisa Lukash said in a statement."

[whiskeyinthejar] 05/7/2019 13:38

Art Berman puts it like a question -

"Does increased tight oil production with fewer rigs mean "doing more with less"

Or just having a big savings account of 7,222 DUCs to complete without adding to rig count?"

I think the latter. And the inventory of uncompleted wells will dwindle and some of those wells will never be completed.

[osirisra] 05/7/2019 13:19

onedb1
Exactly. If the USA knew that these days of plentiful, cheap, home produced oil were long term they would be giving two fingers to the Saudis and they're not. Shale oil has a break even point of around $40 right now, that is only going to go higher as the cheap and easy stuff is exhausted.

[adg] 05/7/2019 11:54

PLEASE ALL IGNORE THE WINDYLICKERS

[onedb1] 05/7/2019 11:22

US production is destined to plateau even as early as h1 2020 . This is because the easy cheaper drills are being exhausted and more capex will be needed to replace the shallow drills for deeper more costly ones . Given that many of these firms haven't got a good balance sheet it will get interesting. As for Pmo , $63/64 Brent and 69$ for 42% (hedged) entitlement of oil, the average of $65 needed to be inline with expectations of recent Proactive Oil presentation is forecasting a good year end debt reduction and free cash flow . We are exactly at the level needed . Some should reread the $65 scenario as that is where we are given the hedges . To be it looks good .

[jelenko] 05/7/2019 09:59

When you see the effects of a real Brexit on future generations I don't think you will be so "little England" about it. The days of the Empire are dead. We are a small Island, very small and that's about it. When all the Oligarchs decide to leave with their dosh our economy will crash big time. Boris and Farage will be okay though, they are already loaded.

Off Topic I know, won't do it again.

[fireplace22] 05/7/2019 09:32

dean, if it were that clear cut the price of copper (limited supply, demand forecast to increase exponentially) should be rocketing - it aint!

[deanroberthunt] 05/7/2019 09:19

I just can't see how Oil will ever recover...any increase in demand is covered by US production, OPEC are constantly cutting, meaning they have stored capacity...and demand is slowly being eaten away by move to renewables

[linz22] 05/7/2019 09:06

Wrong board...

[leoneobull] 05/7/2019 06:13

Ann Widdecombe has chosen to use her maiden EU speech to lecture the European parliament on what democracy means, while speaking on behalf of a party with an unelected leader that cannot be replaced.Widdecombe said the elections for the European Parliament President were undemocratic, even though every MEP got a vote and the winner – David-Maria Sassoli – won over 50% of those votes, in stark contrast to the zero votes cast for Nigel Farage to lead the Brexit Party.She told those gathered, "Just because we got to vote on the new parliamentary president, and no-one wins that election unless a majority of MEPs vote for them, doesn't make it a democratic process – just as my party having a leader that no-one voted for isn't undemocratic."That's because democracy is about getting your own way, and when I don't get my own way it must be a lack of democracy. There is no other explanation for more people voting for a thing I don't like. Just because my view is in the minority, doesn't mean it should be ignored. No, this is nothing like Brexit. Shut up.She went on, "The UK is nothing more than a nation of slaves under the yoke of the EU. And I can say this with complete confidence because as a middle-class white person I have never had any exposure to what slavery actually means."I can quite happily define slavery as being made to obey stuff like fishing quotas or to follow rules about bendy bananas. Because that's what democracy really means."

[flatulentmargaret] 04/7/2019 19:15

I ben navin preblims wids carrot flys put nets oner ny vnegebles mit by som snares lik this snares vnury moch

[zztop] 04/7/2019 18:25

I thought the sun turning from yellow to white had something to do with things heating upNot the oil companiesGoogle yellow to white sun?

[husbod] 04/7/2019 15:19

If it does we'll all be dead

[crossing_the_rubicon] 04/7/2019 09:41

'ADG,
"Oil usage continues to rise to 2040"

Agreed. And I expect it to continue rising past that as World Population is growing by another 1,5 billion people between now and 2050. Massive demand boost to Oil and its byproducts consumption side.