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Hess/Exxon have plans for stabroek up to 2023.
Hammerhead is NOT included in these plans.
Hammerhead is flagged as a “potential” producer with their many other targets .
Anything happening at hammerhead is a long long way off if at all.
All info in this recent presentation
https://www.hess.com/docs/default-source/investor-decks/2019-bank-of-america-merrill-lynch-global-energy-conference1.pdf?sfvrsn=2225746b_2
Exactly, to say that hammerhead is not gonna go to production is just plain stupid... jethro will be appraised, I doubt we will hear about joe though.. I see big changes in the ownership of our licence by this time next year, wether the results are good or bad... time will tell ofc
Simonpf
Time will tell on Jethro, if the channel is there it is several hundred millions of barrels with good viscosity and high pressure/temperature thus indicating good potwntialnproduction parameters.
Primary targets likely to be the Cretaceous ones in line with Pluma, Tripletail and Turbot at same depth as Liza.
Also, HH remains in their sights and they indicate it will be next or subsequent FPSO. They dont drill 3 holes in 3 months for extended tests for nothing.
No way they are going back to Jethro next year, way too much uncertainty,
the market won’t assign anything until proven production, not a quick
route to value for tlw, as they have stated, they want light oil .
Stabroek is massive, many leads, light oil, Hess/Exxon have more than
enough to be concerned about, I don’t see hammerhead flagged up in
Latest presentations from either company, low hanging fruit first.
The oil will stay where it is for years or indefinitely
The market is in the process of putting a value of zero to these discoveries.
Just a bit of balance here
Wilkcoutts
Thanks, the $40 may be on presumption the channel.is a discovery also making economics significantly better.
The constant changing of dates isnt good but think Tullow mgmt has been running around like headless chickens and looking at Commerciality of Jethro based on temps/over pressure to qualify their rather sparsely worded update simply hasn't been a priority.
Nope, the $60 breakeven relates to Jethro as it stands. Wood Mac are stating Joe is not viable as a standalone, even with subsea tieback due to the cooling in the pipeline. That might change if there is an increase of surrounding reserves to bring the overall costs down. But current as it stands, Wood Mac have Joe has non commercial on it's own, and Jethro at $60 Breakeven due to the increased costs of heavy oil extraction and FPSO storage.
The more barrels are found the less the per barrel cost. Still think ECO is in a great position, but no investment case for me until TLW provide some light on future, Carapa results, updated CPR and future drilling plans from the JV.
Shpunken, of course it doesn't fit with my expectations, that's why I sold....
Edison or Eco are on record as saying the scenarios are break even below $40 per barrel. $60 may relate to Joe.
WilkCoutts - is this the report you are referring to of 14th November (cost $1250)?
Guyana heavy oil update weighs down Tullow:
https://www.woodmac.com/reports/upstream-oil-and-gas-guyana-heavy-oil-update-weighs-down-tullow-360400/
If I remember correctly TLW repeatedly quoted much lower figures for Jethro and Joe than those in ECO's CPR and Woodmac's figures seem to be in alignment with that. Woodmac has an excellent reputation.
“Standard BB reply, if it doesn't fit with your expectations then it must he wrong? Correct?” No, incorrect, these are not my expectations, nor my made up numbers.. Like I said good luck with that, and I assume those numbers fit ur expectations, correct?
Wood Mackenzie I'd trust over any BB. I don't like the figures either. But that doesn't mean WoodMac have it wrong.
Standard BB reply, if it doesn't fit with your expectations then it must he wrong? Correct?
Head over to Wood Mac site and buy it. Better have $4000 ready though
$60 breakeven lol? 150m, 50m? Good luck following that accurate report
Unfortunately I've sold out here. I really though Eco were unique and had something amazing. Reading latest WoodMac report, they state Joe is only 50Mboe and not commercial on it's own as even a subsea tieback would be impractical due to the cooling of the heavy crude in the pipeline.
Jethro at 150 Mboe. May be a standalone but the costs to extract are much higher with a breakeven of $60 as it stands. Heated FPSO, extra injection wells.
I'm sure this will come good. I like Gil as CEO, they dont come much better, but I'll remove the risk of the table until there is more clarity. Carrapa comes in , then I'm.back in heavy. Even if it means missing the rise.
Good luck all, just goes to show nothings a given. I thought it was back in October!