Uk Oil & Gas Share Discussion Threads

[jlondon] 20/3/2016 14:05

UKOG RNS 9 Mar 2016-Highlights:

>>>*HH average stabilised rate 1528 bopd from 2 Kimmeridge & Upper Portland.

*Brockham, 8km NW of HH, discovered by BP,averaged PUMPED rate 140bopd." [See details of how it got to 140 bopd] My comment:This fig is assumed to be from Portland.

Data-Last RNS

[thegrumpster] 20/3/2016 13:35

Good read ....1700 barrels a day

--------------

ScottW mentions rail transport on Lse

The Brighton main line is within 2 miles to the east of the site, and another rail link is about 4 miles to the west.

With a very short pipeline and a dedicated loading siding, rail transport should be a good possibility, and a lot quicker than building another pipeline all the way to fawley. (Current pipelines Fawley/Gatwick are for refined products)


FWIW this is a recent example of bitumen transport. Claimed to save 100,000 road journeys a year.



Extract:

"Each train load consists of 15 wagons, each carrying 74 tonnes of bitumen, thus delivering a full load of 1110 tons of bitumen and this successful service is reported to save 100,000 road journeys per year."

----------------------------------------------------

They are using insulated wagons to keep the bitumen hot, so similar uninsulated wagons carrying crude may have a fractionally higher capacity.

74 tonnes is about 528 barrels (roughly 3 road tankers carrying 177 barrels)

15 wagons say roughly 7500 barrels per train, every 4-5 days......not exactly overloading the rail network.

[theuniversal] 19/3/2016 13:03

Opps sorry forgot linkhttp://www.geoexpro.com/articles/2010/03/the-first-uk-giant-oil-field

[theuniversal] 19/3/2016 13:02

Quick history of north sea... mentions kimmeridge clay...

[theuniversal] 19/3/2016 12:00

Lol more links ...2013 artical on wytch farm in poole dorset... gives an example of what to expect from gatwick gusherhttp://www.geoexpro.com/articles/2014/02/wytch-farm-ploughs-ahead

[moneymunch] 19/3/2016 09:36

Another timely publication from UK Gov. ;-)

Guidance
SR2015 No 2: storage and handling of crude oil

From:
Environment Agency
First published:
24 February 2016
Last updated:
2 March 2016, see all updates
Part of:
Standard rules: environmental permitting and Environmental quality
Applies to:
England

Standard rules and Generic Risk Assessment for the storage and handling of crude oil arising from onshore oil and gas production

[moneymunch] 19/3/2016 08:12

Major Production Projects Start Up Around The World

Rigzone Staff

Friday, March 18, 2016

Another European production start-up got underway in February at the Horse Hill-1 discovery in the UK’s Weald Basin. Oil flowed from the well at an initial rate in excess of 700 barrels of oil per day (bopd), in an approximate mix of 50:50 oil to water, before stabilizing to more than 463 bopd, in an approximate mix of over 99 percent oil and less than 1 percent water. Light, 40-degree API, sweet oil continued to flow naturally to surface at the Horse Hill-1 at a steady rate in excess of 456 bopd, and the first two tankers full with 348 barrels of oil from the site have already been sent to be refined. Brendan D’Souza, an oil and gas analyst at WH Ireland, said the results have been highly impressive and far exceed expectations.

The Horse Hill discovery could lead to one of the most significant oil supplies found onshore UK, according to Schlumberger’s research. In August, the oilfield services firm calculated that 10.993 billion barrels of mean oil in place was imbedded within the 55 square miles of the PEDL137 and PEDL246 Horse Hill licenses. Schlumberger’s latest estimates build on the company’s previous petrophysical evaluation of the Horse Hill-1 well, located in PEDL137 near to London’s Gatwick Airport, which estimated the gross oil-in-place (OIP) for the Jurassic section of the UK’s HH-1 well to be approximately 271 million barrels of oil per square mile. A previous report by U.S. petrophysical analysis firm Nutech estimated that the Horse Hill-1 well contained a total OIP value of 158 million barrels per square mile.

- See more at:

[moneymunch] 19/3/2016 07:49

No reason why those expectations shouldn't translate to HH, given the stunning flow rates. Gla Longs ;-)

[moneymunch] 19/3/2016 07:10

ps Thegrumpster, if UK offshore can get their costs that low, then presumably Uk onshore can easily follow suit. Gl ;-)

[moneymunch] 19/3/2016 07:03

Lol MrsA, i've been watching SAR very closely as the share price heads north and hope you make shed loads just like we did a few years back, when it spiked to 4.8p. GL ;-)

[mrsapeslaptop] 19/3/2016 02:45

Moneymuncb. Revisit old haunts :):

[thegrumpster] 18/3/2016 22:15

Current cost of oil per barrel UK Oil offshore.


Unit operating costs down to just over $20 per barrel (from $30) in 2015.



From full report: UK 2016 Activity Report:



or report direct link may work:





Page 7 Summary:

"Industry has made substantial progress in reducing costs and improving efficiency. Unit operating costs fell from $29.30/bbl to $20.95/bbl in 2015 and are expected to fall by another 20 per cent to around $17/bbl this year, a total of 42 per cent within two years."





That brings it down to the US level, given as opex $14.80, capex $21.50

Or Norway's level, which is also offshore.

[m0rrisminor] 18/3/2016 20:06

If you believe this investment is not for you sell up and be gone don't hang around whining like some pathetic,

Man child that's been dumped by is girl friend . It's so boring all I want to hear is developing flow test and the next saga .

[moneymunch] 18/3/2016 20:01

Potential significant upside imminent, on full flow test data from HH, the CPR OIP reserves update from Xodus, the Ernst and Young study/economic report on the Kimmeridge and its national significance, followed by SS's meeting with the PM at No.10 as Ukog gets ready to develop from small cap explorer to mid/major cap leading UK oil producer...... Gla longs....extremely exciting times ahead and transformational prospects. ;-)

[cupra kid] 18/3/2016 19:04

Down on a low volume day = nothing to worry about. Rising on good volume, happy days!

[janekane] 18/3/2016 16:03

Pity this pile of shyte isn't able to take advantage of these prices

[football] 18/3/2016 15:26

oil up 1.9% to 42.29

[moneymunch] 18/3/2016 15:05

Wall Street Journal



The rally has been driven by hopes that major oil producers, including countries outside the Organization of the Petroleum Exporting Countries, will join a production freeze at January levels, with or without the cooperation of Iran, which is pushing to raise output levels in the wake of an end to international sanctions against the country in January. A meeting to discuss the freeze is set for April 17 in Qatar.

“Expectations are building up that the parties will agree on an output freeze,” said Michael Poulsen, oil analyst at Global Risk Management. “The fact that the world’s largest oil producers, Saudi Arabia and Russia will participate adds weight to the meeting even if Iran has announced it will not be present or part of the deal.”


Analysts said much of the recent gains also appear to be driven by the U.S. Federal Reserve’s comments this week dialing down expectations for an aggressive series of interest rate increases this year, amid a softening outlook for global growth. That can boost investments in risky assets, “driving a major influx of speculative capital back into the oil space,” research consultancy Ritterbusch and Associates said in a note. Easy money “has revived oil’s appeal as a favored asset class.”

[moneymunch] 18/3/2016 15:02

U.S. oil prices rose above $41 a barrel Friday, supported by expectations of a production freeze by major exporters and dollar weakness that have pushed prices towards a fourth straight weekly gain.

Brent crude's front-month contract was up 87 cents at $42.41 a barrel.

U.S. crude gained 82 cents to $41.02. The benchmark had jumped by 4.5 percent to close the previous session at $40.20.

[12bn] 18/3/2016 13:33

Still looks like very low volume today so far and low volume = drifting lower sp,imo.

[datait] 18/3/2016 13:31

over 42 dollars for oil now brilliant 45 soon folks.

[moneymunch] 18/3/2016 11:27

Brent at $42 plus and rising.....perfect timing for confirmation of a Major World Class High Quality Oil Discovery.....gla longs; -)