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EXCLUSIVE: Oil analyst Barney Gray discusses the latest from Tower, Coro, Colter, Reabold & United Watch Here

EXCLUSIVE: Oil analyst Barney Gray discusses the latest from Tower, Coro, Colter, Reabold & United
UPDATE: #COPL set timeline for Q2/Q3 Nigeria drilling programme


Hurricane Energ Share Chat (HUR)



Share Price: 44.66Bid: 44.78Ask: 44.86Change: 0.00 (0.00%)No Movement on Hurricane Energ
Spread: 0.08Spread as %: 0.18%Open: 45.00High: 45.30Low: 44.34Yesterday’s Close: 44.66


Share Discussion for Hurricane Energ


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adoubleuk
Posts: 9,055
Premium Chat Member
Opinion:No Opinion
Price:44.66
RE: MoneyAM
Today 00:51
Some interesting comments, people.

However it's just occured to me that anyone paying for access to L2 and actually looks at it is either actively trading, or maybe spread-betting, instead.

Thanks for showing your hands, guys. I love free information!
 
missdosh
Posts: 913
Premium Chat Member
Opinion:No Opinion
Price:44.66
RE: AM Crew
Wed 23:24
Maybe we'll hear something from today.

11:30 am - 12:10 pm The Lancaster Project

https://fpsoeuropecongress.iqpc.sg/agenda/agenda-day-2-28-february-2018
slipanchor
Posts: 1,207
Opinion:No Opinion
Price:44.66
AM Crew
Wed 22:47
LS
I would hope Bluewater are using this delay to commission every line, pump, valve, and any other auxiliary services to ensure the start of feed goes as smoothly as possible.
adoubleuk
Posts: 9,055
Premium Chat Member
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Price:44.66
RE: AM Crew
Wed 22:16
LS,

" "Redeployment of Aoka Mizu FPSO" lecture is fully booked, for tomorrow night. 130 attending. Will be interesting to see if any content makes it's way onto the www afterwards."

Very good point. I very much hope that at least one shareholder who posts here or on another BB will be present. Because for certain there'll be a Q&A session afterwards, and for sure the 'current situation' is bound to crop up.

Fingers crossed.
slipanchor
Posts: 1,207
Opinion:No Opinion
Price:44.66
RE: RE: New Rope
Wed 22:13
Would have to agree, especially considering the deep sea salvage vessels they have scattered around the globe.
LadySonia
Posts: 122
Opinion:No Opinion
Price:44.66
AM Crew
Wed 22:05
Couple of thoughts occurred to me...

1. Would the fact that the AM has been moored up for longer have allowed any additional tasks/maintenance/preparation work on board - knocking off a day or 3 once the buoy is hooked up?
Even if it's a case of crew and engineers fine tuning a few things, or would the AM have bare minimum number of humans on board each day, and even then, solely Bluewater staff?

2. "Redeployment of Aoka Mizu FPSO" lecture is fully booked, for tomorrow night. 130 attending. Will be interesting to see if any content makes it's way onto the www afterwards.

"To suit the field conditions, the hull of Aoka Mizu was strengthened, green water protections were added, and a new turret buoy and mooring system were constructed."
wellwell
Posts: 5,854
Premium Chat Member
Opinion:No Opinion
Price:44.66
RE: RE: New Rope
Wed 21:46
Good spot slip. It’s highly unlikely the AM is being replenished from Norway for normal supplies and I’d pick Norway over the UK for a rope any day.
wellwell
Posts: 5,854
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Price:44.66
RE: New Rope
Wed 21:43
AK it’s not often I’m left speechless.
[Slow hand clap]
slipanchor
Posts: 1,207
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Price:44.66
RE: New Rope
Wed 21:34
Grampian Dynamic on passage from Norway to Moray Firth.
adoubleuk
Posts: 9,055
Premium Chat Member
Opinion:No Opinion
Price:44.66
RE: New Rope
Wed 21:06
Wellwell,

More than one other poster here has already pointed this out, but I'll repeat it.

" A deferment that's resulted in millions of lost revenue?"

How can you 'lose revenue', when you're not yet at the revenue-making stage?

Sure, you might be seeing a hypothetical pipe-dream going down the pan, but when as in Hurricane's case (and I don't care about the financial impact on Bluewater, 'cos I don't hold shares in 'em) that makes no real difference to the financial situation of the company in which I DO hold shares, why cry over spilt (but non-existent) milk?

You write like someone who was somehow banking on the idea of FoiL in 2018. If so that's your problem. Sure, it would have been nice, but it didn't occur. Personally it's not my case, because I prefer to base any 'investment strategies' I have on documentation provided by the company involved, rather than wild predictions by people on BB's.
adoubleuk
Posts: 9,055
Premium Chat Member
Opinion:No Opinion
Price:44.66
RE: On a happier note
Wed 20:56
scoredagainsteps,

"Good evening the happy ones"

And good evening to you! Well said. Seriously as I take my HUR investment, frustrated as I may be by the 'rope incident', it has absolutely no impact on my daily 'happiness quotient' ! Had plenty of other stuff happen to me over the last few months which made me seriously unhappy, but am getting past that. 'Waiting on Equipment' or 'Waiting on Weather' causes me no lost sleep whatsoever.
wellwell
Posts: 5,854
Premium Chat Member
Opinion:No Opinion
Price:44.66
RE: New Rope
Wed 20:55
ok curiosity got the better of me.....so you are not classing ropegate as a delay? What on earth is it then? A deferment that's resulted in millions of lost revenue? Whatever.
fitguy5
Posts: 67
Opinion:No Opinion
Price:44.66
RE: New Rope
Wed 20:52
If we, the public/ship watchers, were not able to track the AM in all its movements via marine traffic then we would be ignorant of the 2 failed attempts of hook up, we wouldn't know where the AM was at any point in time! If this was in the desert (far from spying eyes) and not trackable/traceable and some operational "incident" occurred that was serious but did not impact the FOIL window or incur fatalities/injuries then it would probably not be RNS'd!? Equally if the AM was a heavy lift barge/drill rig, on station all the time, then an operational incident would not be RNS'd unless there was an impact to FOIL date or fatality/injury. So the "ship watchers" do make things far more visible and if there had been no RNS then rumours would have got out of hand, and eventually come out in the pubs of Aberdeen.
I agree with Aduk that if the 1H19 window for FOIL is missed/threatened then for sure they would have to fess up!!
wellwell
Posts: 5,854
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Price:44.66
RE: New Rope
Wed 20:49
I literally stopped reading your post.
adoubleuk
Posts: 9,055
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RE: New Rope
Wed 20:48
Oh bother. Why did the spellcheck replace 'Serica' with 'Serenica'?
adoubleuk
Posts: 9,055
Premium Chat Member
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Price:44.66
RE: New Rope
Wed 20:46
Wellwell,

"Good evening."

And a good evening to you too.

I don't have kids to take care of, so wasn't distracted by such when writing my 'ridiculous post'.

However, I stand by what I wrote. Serenica and Tullow's problems simply cannot be compared with Hurricane's situation. Chevron's Erskine field was already in production, and then Serica the pipeline failed, or rather became blocked. So it was literally 'lost production' from Erskine.

The only similarity with Hurricane which Tullow's Jubilee shares is an 'incident' during buoy hookup. But on Jubilee, the main turret bearing was damaged, with the result that the FPSO can't 'weathervane', is being held on a fixed heading by tugs, regardless of wind and sea direction, likewise the offload tankers require the same assistance, resulting in considerable profit-loss, as the field entered production regardless. Much of the bill (1.5 billion and mounting) has been met by the insurers, but nevertheless, someone, somewhere, is seeing a loss.

The 'rope incident' resulted in no material damage (if the RNS is to be believed, and why shouldn't it be?), and production hasn't even yet started. So your technical-sounding catchphrase 'delayed production' is inappropriate, to my mind. As equally would be 'delayed production startup' (I'm repeating myself here) for the simple reason that we're still within the timescale the company has guided for more than eighteen months now.

Sure, in an 'absolute best case', it 'might have been possible' to achieve FoiL before the end of last year. Some people put their bet on that in Reverandy's sweepstake. But that 'maybe' didn't happen, and the 'rope incident' has prolonged things a bit more.

However, there's still no 'delay' overall, and the 'rope incident' has nothing to do with Hurricane's BoD, anyway. A main subcontractor has experienced a costly and somewhat embarrassing technical mishap (reasons for and details of which are unknown here, despite huge amounts of guesswork), but so far there's no 'delay'.
scoredagainsteps
Posts: 2,434
Opinion:No Opinion
Price:44.66
On a happier note
Wed 20:35
Good evening the happy ones
scoredagainsteps
Posts: 2,434
Opinion:No Opinion
Price:44.66
Some people on here
Wed 20:34
Dont have a sense of humour . Had a friend like him got rid of him . If i said that is black he say it is white . waste of space some people dont like happiness . Mellow out
JoeSoap
Posts: 1,396
Opinion:No Opinion
Price:44.66
RE: New Rope
Wed 20:13
I agree with fitguy when he queries whether any other oil company would report in detail on the rope.
"To be fair to them rarely would a major company comment on such detail (can you imagine almost any other oil company doing so!?), and they wouldn't have done so except that they are acutely aware that the "ship watchers" know lots of detail and thus they felt the need to assuage the market!"

But this is not an oil company where a rope mishap is insignificant, and imo is completed unrelated to the shipwatchers.

At HUR the rope is the means to first production and therefore it is material to the progress of the future of the company, as per the examples ww cited and hence reportable. (jimo natch)

You may have noticed that they used the same words in the RNS after the snag.
"A further announcement will be issued once hook-up has been successfully completed."

Then.....https://www.youtube.com/watch?v=g_HN50TLuaI
wellwell
Posts: 5,854
Premium Chat Member
Opinion:No Opinion
Price:44.66
RE: New Rope
Wed 20:10
Moi?

I was merely pointing out that in my opinion the rope incident was meritorious of an RNS as it has impacted production whereas fitguy5 had said that rarely a major would comment on such things. I gave two examples (given I had been previously invested in both companies at one time or another) but also suggested there might be better ones; where an event that has an impact on production is reported, which is what the rope incidents have done for us. So whats the problem with that?

As it happens I was putting the kids to bed when I quickly read your ridiculous post between tooth brushing and couldn't be hooped contorting a better reply at the time so **** off summed up my thoughts.

Good evening.
adoubleuk
Posts: 9,055
Premium Chat Member
Opinion:No Opinion
Price:44.66
RE: New Rope
Wed 19:44
Wellwell,

"**** off AK"

Charming! Showing your true colours, eh?

Did I touch a nerve, by any chance?

:-))
adoubleuk
Posts: 9,055
Premium Chat Member
Opinion:No Opinion
Price:44.66
RE: New Rope
Wed 19:41
fitguy5

Agree with your post.

But regarding

"Moving on to commissioning/production, if there was for instance a valve or instrument failure, causing a another delay, then I wouldn't expect an RNS unless the delay was significant! (say greater than 7 days)"

The company gas always guided FoiL within H1 2019. I would certainly expect an RNS if anything occurs which may put FoiL beyond that timeline. Which will coincide with the AGM anyway, where no doubt there will have to be an operational update, if for no other reason than to keep 'question time' to other topics.

But once hookup is done, and commissioning is in progress, I personally don't expect (nor particularly want) any stuff about whether a flowmeter doesn't work or some flange-connection has been badly bolted-up...
wellwell
Posts: 5,854
Premium Chat Member
Opinion:No Opinion
Price:44.66
RE: New Rope
Wed 19:31
**** off AK
adoubleuk
Posts: 9,055
Premium Chat Member
Opinion:No Opinion
Price:44.66
RE: Hur
Wed 19:29
Snail,

"oh the shame of saying yikes"

Yup! :-)))

Puts me in mind of some 'underground comic' Robert Crumb cartoon, or something like that! :-)))
adoubleuk
Posts: 9,055
Premium Chat Member
Opinion:No Opinion
Price:44.66
RE: New Rope
Wed 19:27
Wellwell,

Agree with overall thrust of your post, but UTTERLY DISAGREE with this bit:

", it's one that's delayed production and in many ways is no different to a shut in pipeline like Serica had or an FPSO turret ring problem like Tullow had which both affect production and were RNS'd"

Sure, hook-up, commissioning and thus FoiL have been 'put back' a bit. (But it must be remembered, still remain withing the projected timeline window, so can't be described as 'delayed'.)

But more importantly, there is a huge difference between the examples you cite, and Hurricane / Bluewater's position. Boiled town to two little words in the RNS. NO DAMAGE.

Once again, you are being disingenious, and once again I wonder what prompts you to write such thinly-veiled and deliberate disinformation, in the full knowledge that some people without a good technical grasp of the situation, or who haven't the time to cross-reference to Tullow's Jubilee FPSO, might not understand, anyway, and thus grasp the wrong end of the stick.




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