Register
Login:
Share:
Email Facebook Twitter


EXCLUSIVE: Alastair Smith, Avacta Group CEO gives an Operational Update


Enquest Share Chat (ENQ)



Share Price: 37.70Bid: 37.40Ask: 37.45Change: 0.00 (0.00%)No Movement on Enquest
Spread: 0.05Spread as %: 0.13%Open: 37.80High: 38.20Low: 37.10Yesterday’s Close: 37.70


Share Discussion for Enquest




View all ENQ Messages

Please login or register to post a message on Share Chat.

Posts per page:

MatrixObserver
Posts: 3,739
Opinion:No Opinion
Price:38.50
RE: Snippet from Cairn Webcast....
13 Sep '18
Hi TW...

Sorry, haven't encountered that one yet...

Is just observations from today's IEA Monthly Oil Report and snippets from yesterday's OPEC report.

https://www.iea.org/oilmarketreport/omrpublic/

https://www.opec.org/opec_web/en/publications/338.htm

Good luck

MO
 
TWalbyoff
Posts: 159
Opinion:No Opinion
Price:38.55
RE: Snippet from Cairn Webcast....
13 Sep '18
MO, do you happen to know (or can provide a link) the current supply/demand ratio for global oil? I think I remember it being 2.3:1 around 2 year or so years ago, which prompted the POO fall to $30.
Thanks
MatrixObserver
Posts: 3,739
Opinion:No Opinion
Price:37.90
RE: Snippet from Cairn Webcast....
13 Sep '18
LOL TWalbyoff

MO was calculating 1000-1500 barrels per day for fuel, so if is 1860 per week, is much more efficient than MO was modelling...

Also, re glut... Is now below 5 year inventory average.

"OECD commercial oil inventories stood at 2.830 billion barrels as of July, 43 million barrels below the five-year average but 194 million barrels lower than the July 2018 level."

Have good-un

MO
TWalbyoff
Posts: 159
Opinion:No Opinion
Price:37.65
RE: Snippet from Cairn Webcast....
13 Sep '18
Auson - at least ENQ are doing their bit bringing that supply glut down!! As Tesco's say "every little helps"
riskingit
Posts: 12
Opinion:No Opinion
Price:37.65
RE: Snippet from Cairn Webcast....
13 Sep '18
Good morning Auson / MO
You've got to admire this board. It must be unique within LSE for the extent to which people go to analyse - I just thought it was a lot LOL

For context my friend works extensively in the offshore O&G sector - worldwide

he has spent 1000's of days on FPSO's etc over a twenty year period. He said none would touch AK and that the four engines he saw are each the size of a bus.

Keep up the analysis - Its great
MatrixObserver
Posts: 3,739
Opinion:No Opinion
Price:37.75
RE: Snippet from Cairn Webcast....
13 Sep '18
Good morning riskingit and fellow ENQers...

Average API gravity for diesel is 36...

"The API gravity at 60°F (15.6°C) for No. 2 diesel fuel is between 30 and 42. The specific gravity, at 60/60°F, and the density, at 15.6°C, are between 0.88 and 0.82."

So 1 metric tonne of diesel is 7.44 barrels x say 250 = 1,860 barrels per week

One barrel is about 159 litres or 35 imperial gallons (is 42 US gallons), MO will work in metric.

So is 295k litres per week, or 42k'ish per day.

AK is producing approx 5MMscfd which is approx 25% of capacity required to run power etc, has capability for 15MMscfd import.

Think 42k litres would power a few cars for a day...

Cheers

MO
Auson
Posts: 1,290
Opinion:No Opinion
Price:37.55
RE: Snippet from Cairn Webcast....
13 Sep '18
riskingit,

Flippin eck thats a lot of diesel, Red diesel is approx 60p a litre so I make that around $200,000 per month !
riskingit
Posts: 12
Opinion:No Opinion
Price:38.00
RE: Snippet from Cairn Webcast....
13 Sep '18
It was a mere snippet MO - I get a lot more from this board then I contribute LOL

Another snippet my friend told me was the AK engineer he spoke with said they had been using 250t a week of diesel. I have no way of knowing the cost of this but I'm just glad I'm not putting it in my car
MatrixObserver
Posts: 3,739
Opinion:No Opinion
Price:36.25
RE: Snippet from Cairn Webcast....
11 Sep '18
Cheers riskingit

Thanks for fuel info, if can get OPEX down a bit, every little helps, please also pass on thanks to friend for helping get AK signed-off, sure all ENQers appreciate...

Did read AK OPEX at plateau was forecast around $5 per barrel, is very good even at twice the cost.

"Equates to c.$20 per bbl over the life of the field, c.$5 per bbl at plateau production"

Best wishes

MO
riskingit
Posts: 12
Opinion:No Opinion
Price:36.20
RE: Snippet from Cairn Webcast....
11 Sep '18
Hi MO,
I have to say I appreciate the time and effort you put to post here. It helps us amateur investors greatly.
One thing, my friend has worked on Kraken twice in the last few weeks (doing testing and certification prior to sign off).
He told me that the 4th engine (out of 4) was almost converted and they expected to be fully oil/gas ready by the end of August latest.
MatrixObserver
Posts: 3,739
Opinion:No Opinion
Price:35.70
RE: Snippet from Cairn Webcast....
11 Sep '18
Hey GD...

MO is in camp that ex-rights date 2/10 is when matters (need to be holding when market opens).

Not sure how others think, but is certainly better to be early than late, lol

Should see Speedway getting"tugged" in to SVT this evening, think HK will probably get there tomorrow am...

Good luck all

MO
Goldigler
Posts: 399
Opinion:No Opinion
Price:35.75
RE: Snippet from Cairn Webcast....
11 Sep '18
26th September is record date, so need to buy before 4.30 on that day
MatrixObserver
Posts: 3,739
Opinion:No Opinion
Price:35.50
RE: Snippet from Cairn Webcast....
11 Sep '18
Is ok marshall2810, it can be confusing first time...

If you're holding end of play Mon 1st Oct, you should be notified within a couple of days from then, maybe even on the 2nd, if you have good broker... need to have cleared payment approx 2 weeks after if taking up rights etc.

Good luck

MO
marshall2810
Posts: 1,025
Opinion:No Opinion
Price:35.50
RE: Snippet from Cairn Webcast....
11 Sep '18
Thanks MO. I’m not a holder currently but considering this as have been watching a while. So I have until 2nd Oct to buy shares and be entitled to take up this offer? I assume my broker/account manager will contact me to confirm if I wish to take it up? Apologies not been involved in a rights issue beforehand.
MatrixObserver
Posts: 3,739
Opinion:No Opinion
Price:35.35
RE: Snippet from Cairn Webcast....
11 Sep '18
marshall2810
Posts: 1,025
Opinion:No Opinion
Price:35.45
RE: Snippet from Cairn Webcast....
11 Sep '18
When is the cut off date to be entitled to these options? The RNS doesn’t say
MatrixObserver
Posts: 3,739
Opinion:No Opinion
Price:35.60
RE: Snippet from Cairn Webcast....
11 Sep '18
In Q&A, analyst Stefan asks about water injection, voidage etc...

CNE said voidage was/is major issue, was due to lack of water injection (was due to beast from east), is now fixed.

MO's interpretation, so AK was sucking all oil from around each production well, but because no injection, new oil was not being pushed towards wells, i.e. not replacing voidage, was reason for lower production in Q2, some 1 million barrels needed to be pushed back, is ongoing and improving.

Also mentioned water injection is currently being tested to further optimise where the water is sent, presently is uniformly injected across all Kraken areas, area looking to fine tune and maybe send more to some areas versus others, or something like that.

Good luck all

MO
MatrixObserver
Posts: 3,739
Opinion:No Opinion
Price:35.50
Snippet from Cairn Webcast....
11 Sep '18
One point of interest, re Armada Kraken

Stated has predominately been powered by diesel fuel, will be switching to use more of own crude in H2, which will reduce OPEX.

MO




Share Price, Share Chat, Stock Market news at lse.co.uk
FREE Member Services
- Setup a personalised Watchlist and Virtual Portfolio.
- Gain access to LIVE real-time Regulatory News (RNS).
- View more Trades, Directors' Deals, and Broker Ratings.
Share Price, Share Chat, Stock Market news at lse.co.uk






Datafeed and UK data supplied by NBTrader and Digital Look. While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.