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Xcite Energy Share Chat (XEL)



Share Price: 68.00Bid: 67.75Ask: 68.00Change: 0.00 (0.00%)No Movement on Xcite Energy
Spread: 0.25Spread as %: 0.37%Open: 68.75High: 69.75Low: 67.25Yesterday’s Close: 68.00


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bonker99
Posts: 12,911
Premium Chat Member
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Opinion:No Opinion
Price:68.50
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RE: RE: recent RNS
7 Apr '14
FFS Ugie - are you telling me that was in the last RNS and you're the first one to mention it in here? I'm a techy so I'm exempt! :)

Jesus wept, that's a potentially revelatory piece of info right there if I'm understanding the implications correctly at all ...
 
bonker99
Posts: 12,911
Premium Chat Member
Off Topic
Opinion:No Opinion
Price:68.50
View Thread (2)
RE: Well project manager
7 Apr '14
Glossing over the fact that most PMs don't do anything and are usually only there because you don't know wtf you're doing yourselves - why would a PM be needed before if nothing but talking was being done?

Moreover, why would one be needed now - presumably because things are actually going to be done and not just talked about?
CatBoy
Posts: 57
Off Topic
Opinion:No Opinion
Price:68.50
View Thread (3)
Ugibear
6 Apr '14
Do you reckon we could start production sooner than people think ?
timkford
Posts: 232
Observation
Opinion:No Opinion
Price:68.50
wonder if...
6 Apr '14
Do you mean the Teekay who are financially strong and flexible, and poised and ready for growth?
ugiebear
Posts: 1,210
Observation
Opinion:No Opinion
Price:68.50
wonder if...
6 Apr '14
Teekay will be one of the partners?
ugiebear
Posts: 1,210
Observation
Opinion:No Opinion
Price:68.50
View Thread (2)
Teekay...
6 Apr '14
were so impressed with the result of the EWT they featured it on their website...

Following the successful completion of flow tests in 2010, Xcite approached Teekay for innovative ideas to support the Pre-Production Extended Well Test (EWT) in order to further appraise the field.

Teekay developed an innovative proposal and nominated the DP 2 Shuttle Tanker Scott Spirit.

On July 5th 2012, the vessel connected to a 1.8 km long flexible pipeline which was linked to the rig Rowan Norway, ready to receive the oil. 73 days later, Scott Spirit had approximately 210,000 bbls of export quality Bentley blend crude on board - the test was successfully completed.

Xcite confirmed that all targets were achieved safely and expediently, noting that the successful EWT marked a turning point in the future commercialization of the Bentley field.

http://www.teekay.com/business/media-centre/News-release/news-release-details/2012/Teekay-and-Xcite-Successfully-Complete-Pre-Production-Extended-Well-Test-in-the-North-Sea/default.aspx
ugiebear
Posts: 1,210
Observation
Opinion:No Opinion
Price:68.50
View Thread (3)
RE: recent RNS
6 Apr '14
Already well documented information - however the section that caught my eye in relation to major industry service providers was this:

'We have proven the methodology to dehydrate the oil to export quality on a floating storage vessel which, together with an effective in-field blending strategy, will allow the Bentley crude to be exported directly to the market.'

EXPORTED DIRECTLY TO THE MARKET- normally such heavy crude as Bentley would have to be processed at specialized heavy oil refineries, increasing the cost of refining considerably (and reducing profits). Plus restricting where the crude can be sold and the subsequent price it achieves.

That's one of the reasons Statoil took full ownership of the Mongstad heavy oil refinery.

Therefore I can see where the attraction would lie for service companies who have access to appropriate equipment and resources.

Basically park up a rig, turn on the taps and fill up the shuttle tanker for transportation to the lucrative mainstream European refining markets...
highlandsbull
Posts: 681
Observation
Opinion:No Opinion
Price:68.50
View Thread (2)
RE: recent RNS
6 Apr '14
Pretty clear from the RNS they are heading down the industry service provider route for Bentley. Would be nice to have a summary of just who the providers will be, the terms and conditions, how much has to be given away in relation to the size of the RBL negotiated, and if any contribution expected now from remaining jv partners out there. Importantly, what the current timeline will be now as to when a fit for purpose j/u rig and FSO can be put in place.
Rowman_Oohmwrels
Posts: 82
Off Topic
Opinion:No Opinion
Price:68.50
View Thread (2)
Well project manager
6 Apr '14
My guess is that the position would be integral for the design and implementation of a development plan. They haven't submitted a development plan. It took 8 months for the Kraken field development plan to be approved. I find it difficult to believe that Xcite didn't have one in place and that they are looking to find one for only a one year contract position.
Does this mean that while they were show casing for potential partners that they did not have a project manager ? Who handled the topic of well design and performance ?
ugiebear
Posts: 1,210
Observation
Opinion:No Opinion
Price:68.50
View Thread (2)
recent RNS
6 Apr '14
contains two lines which further underpins (and enhances), the overall asset value IMO.

Anyone else spotted them?

Could be why a number of major industry service providers have been encouraged to actively engage with XEL.

Just one of the reasons why I bought some more @ 68.67 on Friday afternoon...

GLA



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