Serica Energy Share Discussion Threads

[farmscan] 31/10/2018 14:19

I seem to remember reading somewhere (but can't think where) that average NS opex is now down to around $12 /barrel eq, so I guess they would be looking for similar to Erskine @$14.

[steelwatch] 31/10/2018 14:00

Depends how long estimated peak production is maintained. Maybe a more conservative annualised figure would be more appropriate?

[pineapple1] 31/10/2018 12:45

A total of 7500 was more than i expected. I seem to remember they had mentioned a total of 5k per day. But the proof of the pudding will be in the eating of course.

[captainfatcat] 31/10/2018 12:31

In the graphs from Sericas past presentations it looks like Serica has indicated Columbus is expected to be attributing around 2700 boepd to production.

Edit which is not far away from half of the 7,800boe figure

[lord gnome] 31/10/2018 12:03

My reading of the RNS is that the total output from the field will be 7,800 of which Serica will get 50% i.e. 3,900 boe per day. I think that one or two calculations on here have been slightly optimistic, but happy to be proved wrong.

[rivaldo] 31/10/2018 11:41

Peel Hunt have retained their Buy and 157p target today:

[reallyrich] 31/10/2018 11:40

Blueclyde another window licker

[blueball] 31/10/2018 11:15

Good luck everybody looks good today.

[bountyhunter] 31/10/2018 10:57

GG is that 7,800 gross boepd quoted actually the total due to Serica (which has a 50% interest) or the total production for Columbus?

[general george] 31/10/2018 10:51

Closest I could find was Ithaca Vorlich and Harrier. (now delek)

VORLICH 2 x subsea tieback.
Estimate Capex $12 per boe.

HARRIER 1 x subsea tieback capex $6 per boe.

Harrier is 10km from Stella.

Perhaps Almsivi can shed more light with regard to possible capex?

[farmscan] 31/10/2018 09:49

I would imagine the capex would be relatively small as it is all subsea, but no idea what it would be.

[jackup] 31/10/2018 09:47

Any estimates for Columbus capex ?

[general george] 31/10/2018 09:32

Current gas price is now 70p per therm.

7800 x 58 x.0.70rev wud be £115m

I would be surprised if we arent 150p by Xmas

[general george] 31/10/2018 09:12

Its 131m barrels gas 4m condensate.

7800 x 58 x 0.65 current gas price is.....

Revenue of £107m PA
So yes £70m profit seems sensible post capex.

Good news is this

[captainfatcat] 31/10/2018 09:11

smokie I'm sure their will be plenty of interest in the months before it comes online in 2021 but that's still a long way out and also dependent on the Arran-Shearwater pipeline being tied into the Shearwater platform in Q3 2020.



BKR completion end of November now only 30 days away....

[bountyhunter] 31/10/2018 09:08

agree that wouldn't be wise to delay Rhum 3, no need to rush we're not in the Grand National but commitment and ongoing progress are important

[pineapple1] 31/10/2018 09:03

Its a long way off b4 cash hits the balance sheet which is why i suspect its not a market mover.

[robo175] 31/10/2018 09:02

In depth look at Serica produced beginning of Oct.

[smokieuk] 31/10/2018 08:47

Isn't this a reasonably major announcement? Why doesn't it prompt a greater interest in the shares? 45 minutes into the day and only 15.6k bought and a small number sold.

Is it because all these things were fairly safe assumptions, and thereby factored into the SP? Or maybe the wheeler dealers are just late risers? :-)

[pineapple1] 31/10/2018 08:40

I don't think it a good idea to delay Rhum 3.
BP would likely suspect its to stiff them on additional production FCF.
Keep em sweet. We may get an opportunity to take on something else if we are viewed as a reliable and honest partner. Why jepordise our current good standing with them.
imho

[robo175] 31/10/2018 08:08

Yes abbot and a lot more to come before that.