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All that oil .... WOS ..... Lets examine the record.
WW - p/a
WD - p/a
Crystel Tips - Gone
X1 Redundant well .
So prolific .... The one trick pony strike rate. Ratio 1 : 5 ....or if you prefer; 20pc
Four wells not producing .... Where is the money coming from for a drilling campaign ...behind the sofa ...?
ohh no, not the O+G Super Cycle .... Does it have carbon frame ....and aero forks .....No need...the Saudi's and so on can simply open the taps ..... Investment in the Nrth Sea + WOS .... get real
Shell had 30% investment in the field.
The 70% investor is continuing talks with the Government and is unlikely to wish to chuck its investment away.
unsurprising, Shell pulled out. Must have been marginal even at these prices. 170mmbbls over say 10 years, West of Shetland and in basement as well. Business decision I’m afraid not political.
I wonder what Shell will do with all the “protection” acreage they were awarded round the HUR licences.
Yes but small oilers don't have the financial clout to do this . And probably not the PR bods to battle the ecomob. I agree the time may come but only when they wake up to reality. Not likely IMO.
should read...'Small oilers already in WOS........'
B*gger Cambo
Big oilers like Shell are obliged to think public-relations politically. Small oilers are not.
Small oilers without already in WOS or with the balls to enter now will, at some point, make a killing
Because huge quantities oil needed next 30-50 years
Tight supply = high price.
Simples
Yawn : Westminster have happily trousered 40 years of North Sea oil revenue. Scotland could / should be as rich as Norway. Now you arrogant ****ers have audacity to blame SNP for Cambo (when oil clearly isnt devolved and Holyrood has no power on issue).
Transparent argument that doesn't pass most basic sniff test.
Wee Nicola should think before she opens her big trap
Telegraph comments, P Wookey to Cambo news
"The SNP thought that Westminster would back Shell to develop it, thereby allowing the Scottish Government to virtue seek while still benefitting the Scottish economy.
Shell and Boris have called Sturgeons bluff and now the SNP have to explain to the Scottish people why there are no well paid jobs any longer in the Scottish oil industry. It also makes independence even more unviable. "
Nice individual filtered
Thousands? Millions! But I'm not intimately knowledgeable in those shares. I was once invested heavily here. hmmmm.
As for CA. Sometimes gambles work. This is a gamble, a roll of the only dice they have left; and CA are doubling down. Their resident geologist was even more bullish than Trice! What happens if it's wrong, and it fails and waters out?
A. RB starts again and all you cufkers are cufked.
because I'm not invested I view it differently.
The issue is the term "fossil fuel". It's not all a "fossil fuel". It's a feedstock for vital products.
The perception is it's dirty. It's not. In fact in small measures, it's good for the environment, just not in large quantities.
But- to produce oil in the NS you need large platforms burning gas through GT's for power and that's cheap but environmentally horrendous. Some run huge pumps for water injection using oil/gas to power them. Yet the sit alongside wind turbine arrays.
We're limiting flaring (look at the shale fields in Texas where they flare all day long x 10000 wells)
If we can run cables to local platforms and produce a clean product, cleanly, the industry has a huge future as subsea fields are prolific and the cost per barrel subsequently lower.
Given oil is not devolved issue it is idiotic blaming the SNP (for what? global warming?).
Like it or not the perception of fossil fuels has changed.
As it happens I think we still need to think about energy transition.
UK & western economy still addicted to oil.
So it we don't extract it from North Sea it still needs to come from somewhere.
Rosebank will be next. FID May 2022.
No. The world has moved on. Shell realise it. SNP has nothing to do with it.
Cambo has been around for years, it was discovered in 2002. It is dependent on high oil prices. It's dependent on investment mantras that no longer fit. It's at 1100m water depth, that's not far from ultra deep territory - my company is involved in some of the FEED - it has significant challenges fiscally and environmentally it's also a challenge. Better to divert investment to nearer shore where you can at least electrify the topsides - but at Cambo it's simply too far, too deep and too expensive for the world we now live in.
It's also a basement development.
Shell decides not to proceed. Evidently, they've capitulated under pressure from SNP parasites and or bell-end Boris