Harbour Energy Share Discussion Threads

[covid20] 06/4/2020 08:58

50p is the next stop. Before we going back to 80p

[tjbird] 06/4/2020 08:49

Wait till the arabs cut production. straight to 42p

[tjbird] 06/4/2020 08:43

Bought a few

[stansmith3] 06/4/2020 08:43

hope so for the poor souls that followed the pump by onedb and adg

[onjohn] 06/4/2020 08:20

90p coming

[john09] 06/4/2020 08:11

Tully’s up 14% is down 3% that’ll change

[buywell3] 06/4/2020 07:37

Has the OIL deal been signed ?

Has anyone cut production ?

[ammu12] 06/4/2020 07:26

Reinforced balance sheet position with significant financial resources on hand leaving us well placed to tackle the challenges of 2020. At the year end, total cash was $375.5 million (2018: $121.3 million), of which $59.7 million (2018: $53.3 million) was restricted.> Pro forma adjusted EBITDA of $162.4 million reflecting the contribution of the Brae Complex and Foinaven field from 1 January 2019. Adjusted EBITDA $97.9 million excluding the six months pre-acquisition results from those assets.> Hedged 63 million therms at EUR0.53/ therm in 2020, 54 million therms at EUR0.41/ therm in 2021, and 54 million therms at EUR0.45/ therm in 2022.

[john09] 06/4/2020 07:26

Looked like the POO might Open down a few points but it’s since firmed, imagine it’ll turn blue . Flat as I write

[steve73] 06/4/2020 05:46

If China (and the Rest of the world) were not filling every storage facility (or both oil and it's products) at this stage the oil price would surely be even lower than it is now.

My estimates (based on documented reductions in air travel & land transport) suggest that the world is currently using around 30-40 % less oil than before.

Russia and SA could cease all production, and there would still be an excess at the present time, so unless ADDITIONAL producers also reduced, then the O/P surely cannot increase (other than due to pure speculation, and IMO this would be risky since the taps could so easily be turned back on).

US shale has been the fast growing supply recently and has largely led to the excess, at least before CV took effect, and they should also share in some of the cuts.

But since they are all privately controlled companies, it would be difficult to mandate this - even if Trump actually wanted to, which he doesn't look like supporting.

So the resultant low oil price is likely to be made to continue (by OPEC+ maximising its production) and force the high cost producers to shut-in over the short term, or to cut back future development in the medium term. Shale is particularly at risk due to its relative high cost and rapid decline.

Therefore I can foresee the low oil price being with us for a long while yet, and the timing and magnitude of the upswing will also depend on how quickly the world recovers from CV and gets back to normal.. or at least a "new" normal. I do think that OPEC+ will agree to some cuts - but only when the demand has increased to the point where it will make economic sense for them to do so... and that is not yet.

How long can PMO ride out this storm? There is a huge contango at present, and as each monthly contract rolls over the next month drops a few $$ to match the outgoing price, and I think there could be some benefits in hedging our production (even at these low prices) to maximise our short term future income... but it's certainly not without risk.

Good luck to all holders - it could still be a rocky ride here.

[peteret] 06/4/2020 00:33

All the time China all filling up every storage site to maximum and creating new ones to fill up.As their economy recovers.At the worlds expence.

[turvart] 05/4/2020 13:59

Going to sleep and not waking up is also coming.

[amaretto1] 05/4/2020 13:34

10 dollar oil is coming !!

[amaretto1] 05/4/2020 10:48

Lol .... and ?

[crystball] 04/4/2020 12:32

We are going into a period when the weather conditions in the North Sea for operations are going to be much quieter over the next 2 weeks. No more violent storms!

[markymar] 04/4/2020 11:08

https://www.energyvoice.com/oilandgas/north-sea/232594/valaris-set-to-undertake-drilling-works-at-premier-oils-catcher-field/

[johnwise] 04/4/2020 04:17

Global crude production should be cut by 10 mln barrels per day, Russia ready to work with US on oil markets - Putin

Russian President Vladimir Putin has said his country is ready to cooperate with Donald Trump's US administration to halt the freefall of oil prices, He believes global crude production should be cut by 10 million barrels daily.




OPEC+ meeting planned for April 6 on output cut

Top world crude exporter Saudi Arabia on Thursday made a surprise call for a meeting of the OPEC group and its OPEC+ partners to "stabilise the oil market".