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NH....the posters u r engaging with have been invested/traded ENQ for years...we r all aware of the ENQ investment case having done our research over the years....u have a rather odd way of presenting your arguments which all appear to be negative towards ENQ which begs the question “why r u here then ?? “.....now based on your posting u surely aren’t interested in ENQ as a positive so it leaves two options....u r either trolling or shorting....for the record I have traded ENQ over the years but absolutely believe in AB so will continue as I have been which I certainly don’t consider to be as u say “gambling”....I traded ENQ today and will do tomoz as well....if all I want to do is continue with negative ramblings then what on Earth is the point....
Yeah it’s looking great for tomorrow epiphany & having WiFi on the flight will no doubt while away the hours to HK. Just hope I won’t need a teargas mask on arrival...
Beerbull,
I was over on the PMO board and noted you were on a Cathay flight (Iassume flying to HK) and checking via the plane Wifi. ;-) By tomorrow, maybe we'll be firmly in the 22s with Brent in the 70s - ideal scenario.
Yes, I broadly agree, Romaron. We're in a superior position compared to the shalers who couldn't produce any FCF before this recent jump. And the falling rig counts were a testament to a level of discipline that I wasn't sure they'd have. Maybe they'll surprise us and continue pulling the rigs back, even with this jump. That'll be good for their balance sheets - whether they're disciplined enough to do this in the face of higher oil prices, that's a big question mark. We'll see soon.
Oil market is now pricing in a longer delay in SA oil coming back and Brent is well over 69 now and should be testing the 70 handle soon I'd expect. Let the cash flow into our coffers... ;-)
That’s an incredible fact colebrooke, in light of that not surprised we’ve seen this spike. When that fact sinks in imo a lot more value to look forward too.
If my memory serves me well, $69 Brent was the trigger that sent our SP to rally hard.
Hi E121 - your 17.50. I agree that this is good news for shale but not so sure of the reaction. It could be temporary and lenders might like the respite to get some money back or strengthen their position. The shalers will press to invest so there could be a face off imo. Many shalers are in the middle of chapter 11 and other restrictions so aren't necessarily masters of their own destiny. They are where we were a few years back and there are few quick solutions. They may not be in the best position to maximise advantage from the situation. We on the other hand are in a good position.
E121 agree on the shalers although they have having a tough time with underperforming fields and financing. Could take a while.
Meantime EnQuest smashing the debt with record production.
Pelle, there are some analysts suggesting some high forward numbers for oil. EnQuest are highly geared to the price as we know. Debt reduction could be very significant over the next six months.
From Bloomberg:
The sudden loss of 5.7m b/d of #oil production is the single largest outage the market has ever suffered (larger in volume than the loss of Iraqi and Kuwaiti output in the 1990 Gulf War, and the loss of Iranian oil in the 1979 Islamic Revolution
Cole - $80 a barrel will see the shalers bring on the rigs and pump like crazy. I doubt we can sustain 80 for a long time, but that'll be result, IMO and that'll naturally temper oil price increases..
Yes, I noted that oil had another leg higher to 68.50 just now. What were the predictions from Ponzi and NH this morning - $62 oil.. ;-) Go Brent and we'll see Enquest spike more first thing tomorrow..
Colebrooke, I see around 450-500 mill at 70k and 60 oil 2020.
So 80 oil, will roughly double it!
And 70k production might be low side
How much free cash flow to EnQuest at $80 a barrel ??