 Shell, Chevron start oil production at Gulf of Mexico's Whale project
Shell (NYSE:SHEL) said Thursday it began production at its Whale floating facility in the Gulf of Mexico, which is expected to reach peak output of 100K boe/day; Whale is operator and 60% owned by Shell, with the other 40% held by Chevron (CVX).
Shell (SHEL) said Whale, which holds a recoverable resource volume of 480M boe, achieved first oil around seven years after the development was discovered, primarily due to a delay in reaching a final investment decision following the company's cash preservation strategy adopted during the COVID-19 pandemic.
The company expects its operations at Whale will have a greenhouse gas emissions intensity ~30% lower than its nearby Vito floating platform due to the use of more efficient turbines and compression systems.
After selling its onshore Permian Basin business to ConocoPhillips in recent years, Shell's only U.S. production is in the Gulf of Mexico.
Chevron (CVX) said production from the Whale development would bring it closer to reaching 300K net boe/day in the Gulf of Mexico by 2026. |
government might start to listen when giants start to go, only a +.
investing has became a dirty word in the uk. |
I think there is a fair chance that She’ll will move its listing this year - CEO said a year ago if he can’t get fair value in Uk he would consider a move - he hasn’t and Shell/Equinor Uk asset merger signals to me they are going
Probably wishful thinking but hope it happens sooner rather than later |
Production started today at Whale deepwater site in Gulf of Mexico. 60pc Shell lead operatorSterling off dailyBrent over 77 bucksNat Gas up again & importantly European Gas storage levels are depleting at the fastest rate in 6 years. Storage is 70pc full compared with over 86pc a year ago. The lower the end of March inventories are the harder it will be to fully refill before next winter. Divvi increase end of month hopefully together will falling interest rates making the investment case even stronger & a further buyback should all keep things moving nicely |
Difficult to imagine any large companies being listed by the end of Labours current term.spud |
Difficult to imagine Shell still being listed in UK this time next year |
Integrated gas output may be down from 940 large to 900 large on the Q, BUT market Nat Gas average prices rose from 2.2 Q3 to 3.0 Q4 so the jolly old output only data may be a tad misleading vis a vis the actual bottom line |
Didn't really impact the share price which means probably the retail investors selling looking at the volume..will be back up again soon (hopefully tomorrow) |
Market report
In London, Shell shares fell 1.9%. It reported that it expects to report a decline in Integrated Gas output for the fourth quarter, weaker trading & optimisation results for the unit, and well write-offs.
The oil major expects to report final-quarter Integrated Gas production between 880,000 to 920,000 barrels of oil equivalent per day, a decline from 941,000 in the third quarter of 2024.
Trading and optimisation results in the unit are ‘expected to be significantly lower’ than in the third quarter. This is driven by the non-cash hit from the expiration of hedging contracts. Fourth-quarter well write-offs of around $300 million are expected in Integrated Gas.
Adjusted earnings pretax and depreciation in Integrated Gas between $1.2 billion and $1.6 billion are expected, compared to $1.4 billion in the third quarter.
In Upstream, earnings between $2.4 billion and $3.1 billion are forecast, compared to $2.7 billion in the third quarter. Upstream exploration well write-offs of around $400 million are expected. In the Marketing division, earnings between $400 million and $800 million are predicted, after it achieved $600 million in the third quarter.
In Chemicals & Products, Shell forecasts an earnings outcome between $800 million and $1.0 billion, compared to $900 million in the third quarter. In the chemicals sub-segment alone, however, it expects a loss.
‘The commodity price backdrop wasn’t helpful for Shell in the last quarter of 2024 but oil prices have been gaining ground in the early weeks of 2025 amid declining OPEC production and continuing signs the US economy remains robust,’ AJ Bell analyst Russ Mould commented. |
I think we will get 32 by end of this year..weight for a few more brokers to increase their targets |
30 in 2025, natural gas is on the up but oil not so much. There seems to be a general malaise and negativity in the UK. Success just isn't celebrated. |
What price you targeting? 33 ish? |
Coffee made. I have a substantial holding in Shell now, wondering if my patience will be rewarded with a listing in the US over the next couple of years. An increase in the div wouldn't be bad either. Here's to a good day/year. |
We may see 27 tomorrow. |
Morgan Stanley upgrade from Equal to Overweight with a PT increase from current to GBP35 |
As I recall last winter had a record number of named storms. 7 months of wind and from from Nov to April, May. Trickiest wet time in 20 years to get the mower out which I try every week of the year. So, that meant less cold and still conditions than usual also.A 'normal' year may provide a more balanced update but key will be how things stack up in an extended cold & still winter |
Wind overtakes Gas for the first time in the UK: |
Soon be Wednesday |
In the US, large and small businesses, and Federal and State government, have abandoned this toxic, anti-growth ideology. The big banks are withdrawing from Mark Carney's Net-Zero Banking Alliance. But in the UK, Ed Miliband has been handed £37 billion of taxpayers' money to make Britain "carbon neutral" by 2029, with more futile net zero spending announced every day....Daily Telegraph |
Peace in Ukraine...by Trump......."I think it's absolutely in America's interest to stop Putin cold. First and foremost, you enforce the actual energy sanctions on Russia. You flood global markets, and you drive down the price of oil. His economy and his war machine will dry up very quickly," he said.This would require help from Saudi Arabia, already tired of losing share to global rivals by withholding 2m barrels a day to prevent a crash in crude prices. The guessing game in strategic circles is what it will take for Mohammed bin Salman Al Saud, the Saudi crown prince, to sacrifice Putin and renew the House of Saud's historical alliance with America.It is impossible to know when Russia's hyper-Keynesian war economy will snap.....Daily Telegraph |
11 December 2021 http://shet.news/gzlo6In our headlong rush to 'save the planet' perhaps a sobering reality check for the deluded Greens is long overdue?A small, ever-so-green, 100-megawatt wind farm needs 30,000 tons of iron ore; 50,000 tons of concrete and 900 tons of non-recyclable plastic.For the same power from an ever-so-green solar farm you need to increase that by 150 per cent.An electric car battery weighs half a ton, making just one requires shifting 250 tons of earth somewhere else on the planet.All require what are called 'rare earths', so a phenomenal 200 to 2,000 per cent increase in toxic mining, processing and shipping is required somewhere else on the planet, usually from unregulated regimes with very lax environmental standards.Solar and wind have weather-dependant limits, but we need energy ALL the time, so we have to have permanent back-up. The giant Tesla factory in Nevada would take 500 years to make enough batteries to supply the USA with electricity for 1 day!After 30 years and countless billions in subsidies wind and solar supply less than 3 per cent of the world's energy. On top of that, like all machines 'renewables' are built from non-renewable materials and have to be replaced time and time again, so definitely NOT a one-off cost.To accommodate 2,000 MW of gas or nuclear power generation requires the same area of two 18-hole golf courses. Whereas, accommodating 2,000 MW of wind power requires an area the size of Belgium!Then, of course, you still need 2,000 MW of gas or nuclear power to accommodate those hundreds of occasions each year when wind and solar power is producing absolutely nothing.Renewables will undoubtedly cause far more environmental damage to wildlife.George HerraghtyElginMoray |
Wind has problems eg Uncontrolled Variability ...also renewal costs and damage to environmental....also Aesthetics. |
 Google's AI says the UK can be self-sufficient in renewables+nuclear by as early as 2030:
AI Overview
Yes, the UK can become self-sufficient in renewable energy, and some say it could be achieved by 2030. The UK has the potential to generate enough renewable energy to meet its own needs and export clean energy to other countries. Some say that the UK's renewable energy potential includes:
Solar power: Solar panels are the cheapest source of electricity in the world, and the cost of solar energy has decreased significantly since 2010. Solar energy can provide almost 30% of the UK's electricity demand at times.
Wind power: The UK has a lot of potential for onshore wind power, and the government has removed barriers to its production.
Offshore wind: There is enough space in the UK's shallow waters to install offshore wind turbines, and some power can be generated by floating turbines.
Hydrogen: Hydrogen is a low-carbon superfuel that is easy to store and use.
Nuclear reactors: The UK could embrace a new generation of nuclear reactors. |
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