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Xcite Energy Share Chat (XEL)



Share Price: 28.25Bid: 27.50Ask: 28.25Change: 0.25 (+0.89%)Riser - Xcite Energy
Spread: 0.75Spread as %: 2.73%Open: 27.50High: 28.25Low: 27.25Yesterday’s Close: 28.00


Share Discussion for Xcite Energy (XEL)


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bubbajoe
Posts: 150
Off Topic
Opinion:No Opinion
Price:32.25
Could be
23 Feb '15
What does that even mean? And why do you seem to have such a problem with someone expressing a legitimate alternative view.
 
Sellhigh
Posts: 6,232
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Opinion:No Opinion
Price:32.25
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RE: IP address
23 Feb '15
My post clear says SPKiller is a lady, who you said was in France.

Unless you are SPKiller?
X111
Posts: 71
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Opinion:No Opinion
Price:32.25
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Bressay / Mariner
23 Feb '15
I seem to remember Xcite increased the storage to 800,000 barrels?
Just wondered why and if this had anything to do with sharing the storage facility?
ceilingcat
Posts: 162
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Opinion:No Opinion
Price:32.25
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RE: IP address
23 Feb '15
Hi Sellhigh,

Are you referring to the LSE rules regarding the IP address of all posts being recorded to aid in enforcing their terms and conditions? On that basis, LSE will no doubt be put at ease that the allegations of multiple accounts and myself being a woman in France are entirely untrue.

As MarkESmith has suggested, please try to stick to discussing Xcite.
ceilingcat
Posts: 162
Answer
Opinion:No Opinion
Price:32.25
View Thread (3)
RE: Bressay / Mariner
23 Feb '15
Hi X1111,

Ugiebear has already replied with the information on the distances between the Bressay and Kraken. Mariner is further away, roughly 30 nautical miles from the centre of Mariner to the centre of Bentley. The Beryl oil field in block 9/13 is closer than Mariner.

Ugiebear has also helpfully pointed that there is a collaboration agreement to investigate the potential for a shared gas pipeline between the fields. As you may be aware there is not enough gas known to be present in Kraken, Bentley and Bressay to provide enough energy to power them for the expected lifespan of the operations. In their 2013 Environmental Statement Enquest had already proposed to import gas via the Bressay Vesterled pipeline from 2018, assuming that Bressay goes ahead. That Enquest and Statoil were both willing to collaborate further with Xcite 18 months later is encouraging.

However, I do not believe that they will be sharing a platform. Both Mariner and Kraken are due to come online before the expected first oil for Bentley. If Mariner or Kraken were to share something with Bentley, it is unlikely that Xcite would have signed all those MOUs for the fso, platform and rig.

As has been observed here previously, the rig is possibly oversized for Bentley. Maybe Xcite have the intention to send it to Bressay for drilling once its work is done on Bentley?
Overman
Posts: 301
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Opinion:No Opinion
Price:32.25
Could be
23 Feb '15
You forgot about Russia and South America what a guy you are not
Overman
Posts: 301
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Opinion:No Opinion
Price:32.25
Could be
23 Feb '15
It didn't take long for someone to rain on the party
bubbajoe
Posts: 150
Off Topic
Opinion:No Opinion
Price:32.25
Could be
23 Feb '15
According to Nigeria! Who would obviously say that.
Can't see it myself. If the Saudis buckle this early what have they achieved? A fairly insignificant drop in rig count on some marginal shale plays. Hardly worth the bother.
NSOil
Posts: 88
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Opinion:No Opinion
Price:32.25
View Thread (4)
Today's Times
23 Feb '15
The sudden loss of thousands of oil industry jobs has forced the chancellor to introduce a new tax break for North Sea producers in next month’s budget.
George Osborne is understood to have bowed to industry pressure and will introduce an investment allowance for North Sea explorers, in an attempt to lure investment back to the moribund industry.
The crisis facing North Sea oil companies will be laid bare this week with the publication of an annual industry survey that is expected to confirm that investment, production and exploration levels all slumped last year, with little prospect of an imminent recovery.
George Osborne first floated the idea of an investment allowance in his autumn statement in December, without making any commitment about whether or when it might go ahead. However, with companies scrapping new North Sea oil projects and with thousands of jobs having been lost amid the collapse in oil prices, the chancellor has decided to act.
Sir Ian Wood, one of the founding fathers of the North Sea oil industry and author of the government-commissioned Wood review into how to revive the basin, said: “The indication is that the allowance will be ready to come in in the March budget . . . I’m prepared to give the Treasury a big pat on the back.”
The investment allowance will allow operators to offset capital expenditure against tax, covering new fields, significant redevelopment of existing ones and exploration. According to the Treasury, the allowance will reduce the effective take rate for new projects from 62 per cent to between 45 per cent and 50 per cent.
The oil industry has criticised the existing complicated North Sea tax regime as a patchwork of different tax allowances. The uniform allowance would replace all the existing incentives.
Companies are also hoping that the chancellor will announce a dramatic cut in the headline rate of tax, having trimmed only the supplementary charge from 32 per cent to 30 per cent in December.
Sir Ian, who has warned that up to 10 per cent of the 375,000 North Sea workforce could lose their jobs as a result of the oil price slide, said that tax incentives and other timely support for the industry could reduce losses by half.
The Treasury declined to comment.
The move comes as UK Oil & Gas, the industry body, releases its annual survey on Wednesday, which will show that the North Sea’s faces a bleak future.
The new North Sea regulator is also preparing this week to publish the findings of his commission, ordered by the government, into how to help the industry survive the crisis. The regulator will call on operators to collaborate more to cut costs, for example by sharing pipelines and platforms.
Sullom Voe, a large terminal on the Shetland Islands operated by BP, is likely to become a test case for the new regime. Small producers such as Enquest, which have to use the terminal, have complained about “unsustainable” fees.





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