Tullow Oil Share Discussion Threads

[argylerich] 09/8/2016 08:25

National short burning day?

[fsawatcher] 09/8/2016 08:25

spike

rumour of takeover?

[nicebut] 09/8/2016 08:25

Few shorts closing here, ahead of TEN? IMO..

[mccracken227] 08/8/2016 22:45

Nice find oilretire, all looking very positive

[oilretire] 08/8/2016 20:47

From Kosmos today......


We are at an inflection point in the company’s history with production increasing and our capital requirements decreasing. Our Ghana asset continues to be a solid foundation for Kosmos, delivering near-term production and cash flow growth. With the revised operating procedures at Jubilee working as anticipated, the start-up of the Tweneboa, Enyenra and Ntomme (TEN) project shortly,......



........This issue required the implementation of new operating procedures, including the use of tug boats for heading control and a dynamically positioned (DP) shuttle tanker and a storage vessel for offloading. These new operating procedures necessitated the FPSO being shut down for an extended period in April with production resuming in early May. Once the new operating procedures were in place field production gradually increased and in June averaged around 90,000 bopd gross. These procedures are continuing to work effectively, and second half 2016 production is anticipated to average approximately 85,000 bopd.

As previously announced, Kosmos and its Partners have established that the preferred long-term solution is to convert the FPSO to a permanently spread moored facility, with offtake through a new deepwater Catenary Anchor Leg Mooring (CALM) buoy. The first phase of this work will involve the installation of a stern anchoring system to replace the three heading control tugs currently in the field, which is expected to be complete by the end of 2016. The Partners then plan a second phase of work to remove the load of the turret and risers from the bearing to allow the FPSO to be rotated to its optimal spread moor heading in the first half of 2017. These phases of work are expected to cost up to $150 million gross and it is estimated that the Jubilee FPSO will need to be shut down for 8-12 weeks during the first half of 2017.

Upon completion of the spread mooring work program, production is expected to return to the levels achieved before the turret bearing issue occurred. The Partners will continue to review potential opportunities to improve the efficiency of offtake procedures.

A deepwater CALM buoy, anticipated to be installed in the first half 2018, is expected to restore full offloading functionality and remove the need for the DP shuttle and storage tankers and associated operating costs. Market inquiries are currently ongoing to estimate the cost and schedule for the fabrication and installation of this buoy.

Kosmos anticipates that the financial impact of lower Jubilee production as well as the additional expenditures associated with the damage to the turret bearing will be mitigated through a combination of the comprehensive Hull and Machinery insurance, procured on behalf of the partnership, and the Loss of Production Income (LOPI) insurance obtained by Kosmos.

Recently, the providers of our LOPI insurance have agreed on a framework to reimburse Kosmos for lost production. The framework provides for LOPI insurers to reimburse Kosmos for lost production on a monthly basis, minimizing the impact from reduced near-term production. The first claim is expected to be filed in August with payment anticipated to be received in late September......



........The TEN project remains on schedule and on budget, with the project now 99% complete and expected to deliver first oil shortly, consistent with the operator’s guidance. Eight of the eleven previously drilled wells have now been completed. Hook-up and commissioning of the FPSO, connecting the pre-drilled wells to the vessel via the subsea infrastructure, is nearing completion.

A gradual ramp up in oil production towards the FPSO capacity of 80,000 bopd is anticipated around the end of 2016 as the facilities complete performance testing and well production levels are increased to optimal rates. Per operator guidance, average annualized production from TEN in 2016 is expected to be approximately 23,000 bopd gross during the year, which equates to an average of approximately 55,000 bopd while it is online in 2016.

Associated gas production at TEN is expected to be re-injected into the Ntomme reservoir gas cap until gas export begins. Gas export was planned to commence 12 months after field start up, with the Tweneboa gas reservoir coming on stream a further 12 months later. However, plans to accelerate gas export are currently under evaluation as the fabrication of the gas export facilities has been completed early and can be installed by year end, allowing connection to the existing gas infrastructure early in 2017.

[dlewis1] 08/8/2016 12:44

210 price barrier is giving a bit of trouble to break. Hope it breaks this and stays above it today. This will give a short term indication of upward price movements.

[king kong dong] 08/8/2016 07:19

Oil up today....

[suarez99] 05/8/2016 15:12

So.... turned a profit when a loss was expected, licences granted in Uganda, TEN oil producing as we speak ? These are cheaper than cheap, I have bought a little bundle of these for the bottom draw :-) When poo turns, as it will, I will have a little holiday on these babies

[king kong dong] 05/8/2016 09:51

Good point about TEN too...this will Woosh when that kicks in any day now....back to 250-260p and beyond in no time....

[suggy1] 05/8/2016 09:26

Cheers! Lovely jubbley

[king kong dong] 05/8/2016 09:00

Let's toast those shorter guys....

[nicebut] 05/8/2016 08:50

Shorts now 11.68%..Few `new` guys going over .5% over the last few days...Short squeeeze anyone?

[king kong dong] 05/8/2016 08:20

The Dong Iz Strong!

Up we goes....through the £2.

[pally12] 05/8/2016 08:15

The start of production from the TEN field in early August will be transformational for the Group allowing us to significantly increase our net production

[king kong dong] 05/8/2016 07:57

Let there no be doubt, the King Kong Dong is long and strong on Tullow this morning.

Oil bouncing off $42 all good....

[leoneobull] 04/8/2016 22:13

Ny boy brent at 44.16 thought it was heading to 30? You will be hearing from my lawyers!

[oilretire] 04/8/2016 21:49

Thanks p_



The oil production licences issued will run for a period of 25 years

[p_dharmendra] 04/8/2016 21:15

08/04/2016 | 05:55 pmUganda's oil production plans are now in earnest after the Cabinet approved the issuance of production licences to France's Total and Britain's Tullow Oil.

[mcsean2164] 04/8/2016 12:44

Oil down, tullow up, excellent....

[kevjones2] 04/8/2016 12:05

Where's NY Boy? I don't want to be greedy as we're doing well today but at this stage of the saddo's life I'd pay him for one of his ultra-negative predictions. Why? Because I'd like to see an even bigger share price rise.

[suffersnofools] 04/8/2016 10:14

I see NYBoy said sell at the bottom again.

[spirito] 04/8/2016 09:32

Bargain price with ten coming.

[dealer1972] 03/8/2016 15:04

Unfortunately having the word 'boy' in the avatar name doesn't really instil confidence in what he says.