Sdx Energy Share Discussion Threads

[bountyhunter] 23/9/2018 20:55

An interesting thought Brasso but personally I wouldn't think so as BP seem to be focusing on larger offshore gas prospects in that region.

[brasso3] 23/9/2018 20:20

Any chance BP are interested in South Disouq in a part exchange?

[kaos3] 23/9/2018 20:10

deep water - hur

[tli8jaguar] 22/9/2018 22:23

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Egypt Signs $1 Billion in Nile Delta Deals
Tuesday, September 18, 2018

Egypt signed a deep-water oil and gas exploration deal with Shell and Petronas worth around $1 billion for acreage in the West Nile Delta. The companies are expected to drill eight wells, according to Egypt’s petroleum ministry.

In addition to the Shell and Petronas deal, the Ministry of Petroleum signed a deal with Rockhopper, Kuwait Energy and Dover Corp. worth $10 million. This deal is for exploration in Egypt’s Western Desert.

[napoleon 14th] 22/9/2018 16:04

I dare say that SDX weren't suspended, I'd buy some more!

[bountyhunter] 22/9/2018 08:05

"According to analysts, it seems likely that the assets involved will include onshore oil and gas interests, BP's non-strategic portfolio."



(choose English version! translation from the French may be device dependent)

[bountyhunter] 22/9/2018 08:00

Hopefully we will get a further RNS soon to provide more detail even if we have to wait longer for an admission document. At least we shouldn't need a waiver from the US though! (as per the BP/SQZ deal)

[tli8jaguar] 22/9/2018 00:09

Sorry. I missed it.

[bountyhunter] 21/9/2018 22:16

tli8 - I posted that Egypt Today link and production figures earlier - #6893

[tli8jaguar] 21/9/2018 21:00

POSTED: AUGUST 21, 2017 AT 12:31 PM / BY ENERGY EGYPT / COMMENTS (0)
TAGS: BP, DRILLING, EAST NILE DELTA PHASE 3 PROJECT (END-3), EGPC, EGYPT, GUPCO, OIL & GAS, PHARAONIC PETROLEUM CO., PHPC, PRODUCTION
BPPharaonic Petroleum Company (PhPC) has finished works of third phase of developing East Nile Delta offshore fields, company Head Hassan Abady said on Sunday.

In a meeting with the Minister of Petroleum Tarek al-Molla to review financial results, Abady said that his company finished drilling two wells; Habi-16 and Taurt-8, adding that they both were put on the production map at an average production of 140 million cubic feet of gas (cf/d).

BP’s joint venture with the Egyptian General Petroleum Corporation (EGPC), PhPC, also finished expansion works of onshore gas processing plant at Port Said.

Average gas production of PhPC in fiscal year 2016/17 amounted to 395 million cf/d and 821 barrels of condensates.

In the same meeting, head of BP’s other joint venture with the Egyptian government, Gulf of Suez Oil Company (GUPCO), Nabil Salah al-Din, who stated that the average output of crude and condensates from the company’s fields amounted to 72,500 barrels of oil per day.

GUPCO added 14 million barrels of crude and 9 billion cf/d of gas to Egypt’s reserves in FY2016/17, thanks to drilling new wells, Salah al-Din said.

Total reserves from GUPCO fields reach 345 million barrels of crude and 771 billion cf/d, the chairman said, highlighting that they rationalized $70 million in spending in the previous fiscal year through decreasing production cost.

(Source: Egypt Today)

[gisjob2] 21/9/2018 15:54

Neo,

Egypt, have been regularly paying SDX receivables and expect to be up to date by the end of next year if not before, so all good payment wise. There are much worse places to be.

The assets range in price depending what you read between $500Mn & 1bn.

The SQZ deal with BP could easily be a model for the deal, although no guarantee

[neo26] 21/9/2018 15:38

Savp still hasnt gone above pre suspension price, thats my point. Off course they are now making cash.Just saying.Sdx mkt cap 120m, the asset they interested in 1bn.How much loan will they take? How many additional shares? Egypt has issues paying, so sdx has to be careful they dont over leverage with loan.

[ifthecapfits] 21/9/2018 15:21

Which I also hold. Two of my larger holdings. So that's nice :)

[neo26] 21/9/2018 15:18

Is it going to be another savp

[bountyhunter] 21/9/2018 14:09

what other assets are they selling off?
...might give a clue to the next deal!

[zztop] 21/9/2018 14:01

Bp said they would make disposals after buying large from bhp texasThis is the start

[bountyhunter] 21/9/2018 12:10

future decommissioning liabilities will be a key factor, if not at least largely retained by BP that would be a concern for me

[dlm2602] 21/9/2018 11:47

I thought BP were looking to get rid of their end of life/ mature fields where more micro management was required to fully exploit the assets i.e the Serica deal where future decommissioning costs were borne by BP as part of the deal. The GUPCO company maybe falls into this category - although having said that, if reserves are around 175m boe and 390bcf then this seems quite significant.

[ifthecapfits] 21/9/2018 11:01

BP aren't looking to exit the country - they are just looking to divest their oil interests to focus on gas - as I understand it.

[bountyhunter] 21/9/2018 10:55

It's possible but I think unlikely. There is already one partner involved but fortunately not the IOC on this occasion!

[tournesol] 21/9/2018 10:50

I'm sure that BP wants to exit the country but its perfectly feasible for them to split the package and sell different bits to different people. That would increase the number of potential buyers and help maximise the proceeds.

[wisteria2] 21/9/2018 10:09

lets hope its decent for us LTH as this share has stagnated over the last few years.