It's current market data like that that makes on question right at this moment wtf's XEL up to.
If money's tight as surely it is, why can't they just dump the mega expensive plan and whoever came up with that at the same time, with the consequential delays and cost appreciation that's arisen since it was promulgated, and revert to the original plan. With the positive aspect to the reserves that have been hugely upgraded in the interim as an asset backup why can't XEL find funding or industry support to the old FSP SSP approach. It even won ES approval. It would also mean far less company found financial support required. Just get out there and do something, and soon.
And why also don't they as alternative to find a rig company, on a jv or a no pay no find basis, prepared in the current environment to work with them on a Camm well to prove up that field.
>>> Currently, there are only three rigs being built that will head to the UK and all have contracts in place. Two of the three should enter the region in late 2015 and 2016 respectively, with the last not likely arriving until 2018. <<<
Sounds encouraging aye? Does Xcite have a contract in place for a rig, given that TBN-1 is being built 'on spec'? Or given that there is still no news on funding, the FSO or the platform.
If only there was a public source of rigs under construction and their intended destination...
Name one thing I've posted here that was nonsense (versus some of the tripe you posted)
Please try to get my name right too, it's a rather infantile attitude that I've come to expect of others here. Are you trying to lower yourself to their standards?
Regarding the article you posted, what none of the analysts took into account was SA's intention to keep market share at the expense of the oil price. What SA has since seemingly not taken into account is the ability of the shale industry to rapidly adapt and adopt new technologies in order to stay alive. Necessity is the mother of invention.
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.