Tullow Oil Share Discussion Threads

[waldron] 24/8/2021 07:14

European markets set to inch higher on Pfizer vaccine approval and easing taper worries

Published Tue, Aug 24 20211:41 AM EDT

Elliot Smith
@ElliotSmithCNBC


Key Points

Focus for global investors this week remains on the Fed’s Jackson Hole symposium, which takes place virtually on Thursday.

Investors continue to keep one eye on the unfolding situation in Afghanistan.

LONDON — European stocks are set for a slightly higher open on Tuesday as investors take heart from the U.S. Food and Drug Administration’;s full approval of the Pfizer/BioNTech vaccine and calming worries about imminent tapering from the Federal Reserve.

Britain’s FTSE 100 is seen around 15 points higher at 7,124, Germany’s DAX is set to climb around 37 points to 15,890 and France’s CAC 40 is expected to add around 22 points to 6,705, according to IG.

Shares in Asia-Pacific rose in Tuesday’s trade, following suit from the U.S. on Monday as the tech-heavy Nasdaq Composite jumped to a record close on the back of the FDA’s vaccine approval.

[subsurface] 24/8/2021 06:06

Some more detail here Frontera/Cgx

The Joint Venture has also exercised its option to drill a second well offshore Guyana under similar terms and conditions.



also

Guyana: Kaieteur Block partners extend second well prospect nomination date

[thommie] 23/8/2021 22:49

it's really strange. these wildcat drills are like playing roulette, but with a far worse chance. though if you are in trend with the stabroek discoveries it's like a 100% sucess rate. I have a feeling, that both blocks that tlw have a wi in guyana have 1-2 of these out of 20-30 leads. hard to find, unless you want to produce low api, high sulfur oil. and ofc I guess they would lie more on the boundaries to stabroek and more of it inside stabroek if they were high api low sulfur ones. I also have the feeling that the one that would be the discovery was the already drilled jaguar well that was abdandoned due to high pressure, high temperature difficulties many years before exxon did their first discovery in stabroek. the macondo disaster in the GOM was too present at that time.my only hope is, that Total which is a partner in both tlw blocks has inside info about what to look for after they farmed into the apache block in suriname where they already discovered 3-4 oil fields which are perfectly on trend to all of the stabroek ones.(I guess not, as we would have already seen a spectacular farm in agreement between tlw and Total then.) but in the end it maybe doesnt help at all, as the tlw blocks seem to be of a completely different geology and so to say they can mainly only drill different play types there. but as these wildcat drills we will see in 2022 will be the only left exploration area besides cote de ivory I am pleased to see that rahul is concentrating more on known fields in ghana where every dollar invested has a far better chance to multiply itself than at wildcat drilling all over the world. (just remember how mich dollars they invested in uganda and kenya, plus the interest rates on debt they could have saved over a timeframe of 10-15 years - tlw could have been debt free without it? and as always I think oil companys often stop too early exploring the known prospects in their blocks after they made enough discoveries leading to a commercial oil development but after that forget to go on exploring the rest of them and instead start to drill at other places all over the world while the biggest chance would be to go on drilling at known plays where you can tie back new discoveries fast into existing infrastructure! it's the same with kenya. just look at some past tlw maps. there are many many more prospects around the discoveries which could lead to a big upside in the numbers of ooip we are looking at here...Over and out. lets see what roulette has to say about it!

[la forge] 23/8/2021 17:37

Oil jumps as much as 6%, snapping longest losing streak since 2019

Published Mon, Aug 23 202111:36 AM EDTUpdated 29 Min Ago

Pippa Stevens
@PippaStevens13



Oil prices jumped Monday, snapping a seven-day losing streak that was crude’s worst since 2019, as the dollar pulled back and traders bet the recent selling was overdone.

“News of zero new cases in China has certainly provided a tailwind as it gives added light at the end of the Covid tunnel and a breath of fresh air to the demand landscape,” noted analysts at Blue Line Futures. “Additionally, the U.S. Dollar has retreated from recent highs, underpinning the commodity landscape broadly.”

West Texas Intermediate crude futures, the U.S. oil benchmark, last traded $3.22, or 5.2%, higher at $65.35. Earlier in the day it rose more than 6% to hit a session high of $66, at which point it was on track for its best day since November.


The sharp jump marks a turnaround from last week when the contract sank nearly 9% for its worst weekly performance since October and second negative week in three. WTI ended Friday at its lowest level since May 20.

[xxnjr] 23/8/2021 15:13

Interesting Guyana well has now spud up the slope in 355m WD. Read through for our Kanuku block.

[waldron] 23/8/2021 07:22

European markets set to rise, looking to bounce back from worst week since February

Published Mon, Aug 23 20211:47 AM EDT

Elliot Smith
@ElliotSmithCNBC


Key Points

August’s flash PMI (purchasing managers’ index) readings are due Monday from across the euro zone and the U.K., offering an insight into the state of the continent’s economic recovery.

European shares are coming off their sharpest weekly decline since February, as traders monitored issues such as global monetary policy, the delta Covid variant and China’s tech crackdown.

LONDON — European markets are set to climb on Monday, looking to rebound after recording their worst week since February.

Britain’s FTSE 100 is seen around 38 points higher at 7,126, Germany’s DAX is set to add around 96 points to 15,904 and France’s CAC 40 is expected to gain around 48 points to 6,674, according to IG data.

Shares in Asia-Pacific advanced during Monday’s trade as Hong Kong’s Hang Seng index bounced back after slipping into bear market territory last week.

[subsurface] 22/8/2021 11:45

Thanks Mccracken interesting read

[mccracken227] 22/8/2021 11:28

More on kanuku blockhTTps://oilnow.gy/featured/repsol-planning-to-drill-another-well-offshore-guyana-in-2022-head-of-exploration/

[subsurface] 22/8/2021 10:50

Not sure Tullow is good for your health or wealth?

[kulvinder] 22/8/2021 09:58

Is this the national health forum?

[subsurface] 22/8/2021 09:40

Guyana
Repsol plan to drill in the Kanuku Block next year

[thommie] 22/8/2021 08:22

so the reason why this oxy sale takes so much time could well be, that interested partys normally ask the partners beforehand they invest time and work on the details for a bid and that they received an answer like 'if you buy it we use our pre emption rights and your work effort was useless'. so they might not even start to bid for it? ofc you would only use pre emption rights if it is a very good deal and ofc you can finance it... but to me I always wondered why tlw organised this 600mio credit facility they are able to draw from! they did it before bond refinancing. Cant be for a probable kenya development as it would be far too less for their 50% stake. I would really prefer if tlw invested in a known field with known upside potential from a disstressed seller like oxy with ongoing production that directly starts to pay the credit facility down.

[xxnjr] 22/8/2021 00:18

Sadly the w/inj is not a light switch. More like filling a swimming pool with a smallish outlet. It will take time to have an effect but should be worth it in the long run. It's a different scenario from Petrotal where a bottleneck in water handling is limiting oil production. When Petrotal increase water handing and disposal (as they have pressure support from a strong acquifier and need to get rid of the produced water), production automatically jumps assuming there is surplus oil well production capacity. The objective here is different. It is to direct more oil to the producer(s) with a water flood wall of water and/or to part re-pressurise the reservoir.

Back in the day, 2004 or thereabouts, TLW farmed into a Kosmos block and Kosmos farmed into a Tlw block. The blocks were Deep Water Tano and West Cape Three Points. Can't remember who had which first. But anyway I'm pretty sure TLW would hold pre-emption rights on at least one, probably both. But of course the fields were carved out of these blocks. KOS/APC/TLW would almost certainly hold preempt rights under their joint operating agreements, or another agreement, if one of the partners decided to sell.

[thommie] 21/8/2021 19:55

I hope they did improve since the water injector was just finished in the expected timeframe and was supposed to add another 8000 bopd on gross production. so we could be near 87-88 000 bopd from jubilee now. fingers crossed for the gas injector drilling at TEN.just a pitty oil price lost 10$\bbl since recent highs. as every additional production above the hedged 40 000bbl (which gives max 67$\bbl and the $ above it are send to the hedging institution) is sold for the full brent spot price.anyway I still hope they get a deal where tlw and kosmos buy the oxy stake together. would tlw be able to use a pre emption right on half the stake kosmos wants to aquire if it happens? (I remember uganda where cnooc did that at the first deal between tlw and total that didnt go through. they didnt use it at the final 575 offer.)

[xxnjr] 21/8/2021 17:57

Another offload from JUB suggesting recent higher production rates being maintained.

[deanroberthunt] 21/8/2021 07:17

Big Pharma & Tech control the politicians and the politicans control the media

[deanroberthunt] 21/8/2021 07:14

Isn't it amazing that we've had no FLU deaths in the last 2 years....just a coincidence ? ...considering the 30 yr average is 20,000 per year, with peaks as high as 50-60k ?

People say they're woke, but they ain't awake.

[5trelok] 20/8/2021 19:44

Badger36, no, unlike Covid, they weren’t imaginary. They were a consequence of closing the NHS and killing 20000 pensioners with Midazolam.

[minja19] 20/8/2021 18:16

Five gaps down, with a nice doji on the end.

[xxnjr] 20/8/2021 13:55

The working interests are shown here


On face value, TLW would operate TEN and KOS would operate JUB.
(Although it's not unknown for a minority to be an operator.)

Trident Energy/Kos bought EG (Ceiba+Okume) from HESS with KOS doing "E" and Trident doing "P". That arrangement may happen again?



If KOS got OXY stake may not necessarily be a good outcome for TLW, as KOS may use Ghana as a cash cow with the cash being diverted into their massive Tortue development in MAU/Senegal (3 x FLNG's, or 1 x FLNG + 2 x 6mmtpa on shore liquafaction units).

[subsurface] 20/8/2021 13:24

Good point Thommie, Perhaps that,s the plan With Tullow,s previous management that might not of been a bad thing ,