Firering Strategic Minerals: From explorer to producer. Watch the video here.
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Started: Kokomo, Today 09:42
Last post: theancientmarine, Today 10:36
Carlos Slim clearly has his eyes on Zama as the prize; he will continue to build on his share here, particularly as both HBR and Wintershall are major Zama shareholders, and he cannot build a stake via currently BASF owned Wintershall so he will do it/continue through HBR IMO
Top ten crude oil upcoming fields in North America
1. Zama
Zama is located in the Gulf of Mexico, Mexico. This upcoming crude oil field is owned by BASF, Harbour Energy, LetterOne Holdings, Petroleos Mexicanos and operated by PEMEX Exploracion y Produccion. Production from this field is expected to begin in 2024 and is forecasted to peak in 2026 at approximately 0.13mmbpd of crude oil and condensate. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2053.
https://www.offshore-technology.com/data-insights/top-ten-crude-oil-upcoming-fields-in-north-america/
āZama oil field is located approximately 60km off the coast of Tabasco, Mexico, in the Block 7 of Sureste Basin, Gulf of Mexico. Estimated to hold up to two billion barrels of oil-equivalent, it is considered to be one of the worldās biggest shallow-water oil discoveries in the past 20 years.ā
https://www.nsenergybusiness.com/projects/zama-oil-field-gulf-of-mexico/#:~:text=Zama%20oil%20field%20is%20located,in%20the%20past%2020%20years.
Middle East tensions seem to be on the rise again.
ā3 UK oil stocks to invest in as Middle East tensions riseā
The year 2024 has faced many headwinds so far ā but arguably the most devastating has been the ongoing conflict in the Middle East.
With far-reaching implications, some of the markets most impacted are global oil prices.
The top three UK oil companies to invest in as Middle East tensions rise
Shell (LON:RDSa)
Harbour Energy (LON:HBR)
BP (LON:BP)
2. Harbour Energy
Source: TradingView
You may or may not have heard of it, but Harbour Energy is the United Kingdomās biggest independent oil and gas explorer producer.
Investing in this āoil indie companyā currently costs about 289.50 pence per share ā far more affordable for a normal investor than big oil stocks.
Still, it punches well above its weight, with its share price up 8.71% in the past 12 months, and 3.16% in the past month alone.
Also, according to its latest earnings report, the company has returned $249 million through share buybacks in addition to the $200 million annual dividend, resulting in $1 billion of shareholder distributions since becoming a public company in April 2021.2
But the reason that Harbour Energy was picked for this list is its locality: the vast majority of the companyās oil production happens within the UK and British waters.
With essentially all of its resources firmly out of Middle Eastern territory, the company is well placed to be far less disrupted by the ongoing conflicts than, say, Shell or ExxonMobil (NYSE:XOM), or other big oil companies.
https://uk.investing.com/news/stock-market-news/3-uk-oil-stocks-to-invest-in-as-middle-east-tensions-rise-3441443
Started: Neversellshell22, 20 Jun 2024 16:11
Last post: Jackabe, Today 10:35
That doesn't include the #concrete base #
About 400 tons per MW
Hidden out of sight but never discussed
About 400 tons per MW
Hidden out of sight but never discussed
NET ZERO - A 2 MW wind turbine is made up of:
āŖļø260 tons of steel requiring
āŖļø300 tons of iron ore
āŖļø170 tons of coking coal
āŖļø rare earths including Praseodymium (Pr), Neodymium (Nd), Terbium (Tb), and Dysprosium (Dy)
āŖļøfibre glass
āŖļøresin
āŖļøplastic
āŖļøaluminium
ā¦. all mined, and produced by hydrocarbons.
A wind mill could spin until it falls apart and never generate as much power as it took to build it š¤”
We are the carbon there tryi g to capture
Talos energy sells it carbon capture unit
Trump gets in the end of carbon capture in the so called free world
Maybe an exception here in the so called common wealth as little dictatorship britain decides to go it alone
Trump doesnt get in civil war in the US
Wheres the win
the next mexican president
could
hopefull
from a pragmatist point of view
priceless here one post wonderyou ever wonder why were the only ones censored and this horse **** is allowed to stay up
Started: sittingduck11, 20 Jun 2024 10:47
Last post: Jackabe, Today 09:52
After good close yesterday, need close >308p today.
aimo & dyor
It does make you laugh how this share is still below what it was when the deal was announced 6 months ago. Worked well for the traders though as always.
Another observation -
Michael Burry - the "big short" guy, recently added BP to his portfolio at Scion Asset Management and increased stake in Laredo Petroleum. 6.2% and 6% respectively.
https://stockcircle.com/portfolio/michael-burry
Really could do with a close above 310p to set us up for next push north.
aimo & dyor
Iām very heavy in Harbour but be careful of the āall in stuffā.
Fingers crossed we should all do well but diversification is strongly advised.
Started: Kokomo, 20 Jun 2024 15:00
Last post: Kokomo, 20 Jun 2024 15:00
Bloomberg 20 June 2024
Denmark Grants Carbon Storage Permits as it Taps Oil-Style Model
Wintershall Dea, INEOS, Equinor, Orsted secure permits
Danish state will take a 20% stake in CO2 storage projects
Denmark awarded its first permits allowing companies to investigate the feasibility of carbon storage in underground sites, using a model already used for the Nordic countryās oil and gas projects.
Units of Wintershall Dea AG, INEOS Group, Equinor ASA and Orsted AS are among the companies that were granted rights to explore whether the Danish subsoil is suitable for commercial CO2 storage, and establish whether the process can be done safely and securely, the Danish Energy Agency said Thursday. If they are successful, the companies will be able to apply for permission to start storage.
https://www.bloomberg.com/news/articles/2024-06-20/denmark-grants-carbon-storage-permits-as-it-taps-oil-style-model?srnd=homepage-canada
Started: Neversellshell22, 20 Jun 2024 03:25
Last post: Jackabe, 20 Jun 2024 04:45
āWe are racking up discovery after discovery
It's amazing for something that's supposed to be a fossil fuel..................
āWe are racking up discovery after discovery close to existing gathering and processing infrastructure. Our challenge now is to inject the Norwegian oil sector with a large dose of entrepreneurialism to bring a sense of urgency to partners, infrastructure hosts and regulatory bodies in helping bring our and other discoveries to market,ā emphasized Bijan Mossavar-Rahmani, DNOās Executive Chairman.ā
Love this languageā¦. Crack on Boysā¦.
Started: Neversellshell22, 20 Jun 2024 03:30
Last post: Neversellshell22, 20 Jun 2024 03:50
Just to explain my weird posting timeā¦ Iām on holiday in Canadaā¦
Been a decent few weeks for news, long may it continueā¦.
New Gas discovery at Cuvette Well
Carlos Slim increases stake to over 8%
GLP shorts continue to reduce
Zama FEED contract issued and Khan 2 drilling any time now.
UAE asset divestment.
European Commission agrees to approve acquisition.
Drilling rig in Norway booked until 2028 showing long term commitment.
CEO visits Egypt and commits to major investment.
CEO and others increasing already big stake in company
Debt almost removed.100m $ remaining.
Sensible hedges to protect investment grade in 2025
Currently production 511k BOPD, ahead of forecast
9% Year on Year dividend growth
Talbot first oil end of 2024
Indonesia huge potential with another massive discovery at Tangkulo.
Layaran 2 drilling currently.
Ever improving safety record.
Viking CCS progressing to FID & massive potential with Wintershall projects.
2025 Free Cash Flow marginally improved on 2024
Fenix Argentina field on production by end of year.
FT100 promotion to SP increase stability later in year.
Investment Grade financing to reduce cost of borrowing..
Started: theancientmarine, 19 Jun 2024 10:47
Last post: Kokomo, 19 Jun 2024 15:01
Great news/finds! In the meantime, UK & European Gas prices on the rise again today, HBR has/also is going to have some great assets here both PMO and Wintershall Dea inherited, along with a very strong management and fantastic E&P team.
offshore energy june 19, 2024
fresh gas discovery with multiple development routes emerges from north sea depths
wintershall dea norge, a norwegian subsidiary of germanyās energy player wintershall dea, has expanded its natural gas ****nal with a new gas condensate discovery in the northern north sea, thanks to drilling activities undertaken with one of transoceanās semi-submersible rigs.
anne grethe bretting, wintershall deaās exploration manager for the north sea, outlined: āwith gjĆøa and vega both in a mature production phase, we and our partners are highly motivated to continue to explore for new discoveries. these discoveries can utilise the spare capacity which will become available in the existing infrastructure in the coming years.ā
while disclosing a gas condensate discovery at the cuvette prospect on june 19, wintershall dea confirmed that license partners were going to evaluate the gas condensate discoveryās potential to be fast-tracked into production utilizing existing infrastructure in the vega/gjĆøa area.
āour strategy is to identify new volumes close to infrastructure that can be quickly developed into new fields. our goal will now be to establish the commerciality for this new discovery by evaluating development options,ā highlighted roy davies, vice president exploration & subsurface at wintershall dea norge.
based on the preliminary results, the cuvette exploration well encountered gas condensate in sandstones of the middle and upper jurassic age, with estimated recoverable volumes of 9 ā 22 million barrels of oil equivalent (mmboe) in the primary middle jurassic target and 7 ā 16 mmboe in the shallower upper jurassic target.
according to dno, the partners will consider fast-track production of middle jurassic volumes through the vega central template along with another option on the table, which is a joint development with three nearby discoveries made in 2015-2016 ā syrah, orion, beaujolais ā totaling some 15 mmboe gross.
āwe are racking up discovery after discovery close to existing gathering and processing infrastructure. our challenge now is to inject the norwegian oil sector with a large dose of entrepreneurialism to bring a sense of urgency to partners, infrastructure hosts and regulatory bodies in helping bring our and other discoveries to market,ā emphasized dnoās executive chairman.
with the vega and nova subsea fields, alongside several operated exploration licenses from its portfolio being close by, wintershall dea considers itself one of the key operators in this area of the northern north sea. the firm is also a shareholder in the nearby gjĆøa platform which serves as the export hub for the surrounding fields in this area.
https://www.offshore-energy.biz/fresh-gas-discovery-with-multiple-development-routes-emerges-from-north-sea-depths/
Jun 19, 2024
Wintershall Dea Finds Oil at Cuvette Well Near Vega Field Off Norway
German oil and gas company Wintershall Dea has made a discovery of gas, condensate and oil in an exploration well next to the Vega field in the North Sea, using Transoceanās Transocean Norge semi-submersible rig.
The Cuvette discovery was made in production license 248, which was awarded in 1999.
The well - 35/11-27 S - drilled 100 kilometers southwest of FlorĆø, resulted in discoveries in four different formations, according to Norwegian Offshore Directorate (NOD).
The preliminary estimate of the size of the discovery in the Tarbert and Upper Ness formations is between 1.5 - 3.5 million standard cubic meters of recoverable oil equivalent (Sm3 o.e.). This corresponds to 9 - 22 million barrels of oil equivalent.
The preliminary estimate of the size of the discovery in the Upper Jurassic is between 1.1 ā 2.6 million Sm3 o.e. This corresponds to between 7 - 16 million barrels of oil equivalent.
An additional interval in the Upper Jurassic was also encountered during the drilling operation.
An oil zone was also encountered in the Etive Formation. As of now, there is no preliminary volume estimate here.
The Transocean Norge rig drilled the well, three kilometers south of the Vega field, for the operator Wintershall Dea and its partners, Petoro and DNO.
Vega an oil, gas and condensate field comprising three subsea templates tied back to the nearby GjĆøa platform.
The licensees are considering tying the field back to existing infrastructure in the area.
Cuvette is the latest Wintershall Dea-operated well to be drilled with the Transocean Norge rig in a period of high activity by the company. The rig has already drilled development wells in the Maria field in the Norwegian Sea, successfully appraised the Bergknapp and Adriana discoveries and drilled production wells on the Nova field in the North Sea.
During the rest of 2024 and 2025 it is scheduled to complete the Maria Phase 2 wells and to commence drilling of the Dvalin North development wells. It may also be used to drill additional wells for exploration and carbon storage licenses.
https://www.oedigital.com/news/514583-wintershall-dea-makes-oil-and-gas-discovery-off-norway
Started: Kokomo, 18 Jun 2024 09:14
Last post: AlexTrader0, 19 Jun 2024 09:18
Proactive Investors May 2024
Harbour Energy āon-trackā to complete transformational Wintershall deal later this year
Harbour Energy PLC (LSE:HBR) told investors it is on track to complete its transformational acquisition of Wintershall in the fourth quarter of 2024.
The $11.2 billion deal was announced in December and will, when completed, add a catalogue of assets in Norway, Germany, Denmark, Argentina, Mexico, Egypt, Libya and Algeria.
It will create āone of the worldās largest and most geographically diverseā independent oil and gas companies ā with a combined production profile of over 500,000 barrels per day.
Significantly for Harbour, which is the largest North Sea independent, it delivers a substantial diversification and eases exposure to the UKās currently high fiscal regime for oil and gas.
Todayās trading update confirmed Harbour was producing 172,000 barrels oil equivalent per day in the first quarter of 2024. Its operating costs averaged $18 per barrel.
The company estimated $900 million of revenue for the quarter, after hedging for UK prices of $83 per barrel of oil and 69p per therm for gas.
It maintained guidance for capital spending, with first-quarter capex seen at $250 million and full-year spend expected to reach $1.2 billion.
Net debt halved compared to this time last year, reducing to $100 million at the end of March.
Harbour is to pay a final 13 cents per share dividend for 2023, which the company noted was inline with its previously stated plan to payout $200 million for the year. The payment will be paid on 22 May.
In terms of the Wintershall countdown, Harbour noted that it had made significant progress on the various workstreams and approvals required to complete within its timeline.
Notably, it confirmed that it had executed necessary hedging (predominantly for oil) for the anticipated 2025 and 2026 production, in order to de-risk near-term cash flow.
āDuring the first quarter, we continued to deliver safe and responsible operations, maximize the value of our UK production base and advance our organic growth projects,ā Harbour chief executive Linda Cook said in a statement.
āAt the same time, we made significant progress towards completion of the Wintershall Dea acquisition which will transform our portfolio and capital structure and support enhanced and sustainable shareholder returns."
Again IMHOO, when carefully reviewing Kier Starmerās words/history, there will highly likely be some potential restraints in this respect (O&G) by Labour going forward but it will only come after the elections and certainly nothing before; as we all know by experience, there are no legal obligations (apart from the electorate) for the parties to fully abide by their pre-election stated manifestos!
I will place money on a listing elsewhere.... Linda has lost faith 100%. Once the deals done they will move... Keir is a plonker.. between him, Rishi and Hunty they couldn't organise a p up in a brewery. Incompetence and ego. If you incentivise investment it comes, if you invest in infrastructure your country thrives.... austerity destroys a country... they never learn
O&G prices on the rise.
https://tradingeconomics.com/commodities
Outstanding and cheated PMO.
Started: Neversellshell22, 19 Jun 2024 03:37
Last post: Neversellshell22, 19 Jun 2024 03:37
So do you think our natural SP rise will get us promoted in September or will we have to wait until the deal is done in Decemberā¦
Either way letās hope we are moving in an upward direction soonā¦
Started: Neversellshell22, 18 Jun 2024 17:58
Last post: Byohwepun, 18 Jun 2024 19:11
Always nice to see a rise but after few down days and oil and Gas looking good I thought we might do a bit more.
Good to know all the wonga from Wintershalls production goes to us at decent prices and we move closer to multiple targets such as Mexico and Argentina.
Onwards and upwardsā¦ā¦..
Started: barchid, 17 Jun 2024 15:44
Last post: Egremont, 18 Jun 2024 11:55
Itās possible that Carlos Slim will use his voting power in HBr and Talos to encourage a merger between the two, thereby concentrating Zama between fewer partners and the Mexican gov with perhaps a position on the board for Slim. Talos has various interesting operations in Mexico and would also provide a means of getting a US listing. Given talks between HBr and Talos have occurred in the past, I wouldnāt be surprised to see a transaction once the Wintershall deal has bedded in
Thanks... I don't have the icon on my phone (android)
Click on the cookies sign bottom left of the screen. Turn adverts off.
Who keeps moving them. Hopefully we will rise again the journey was never going to be smooth... We will get there. From a non bot heavily invested LTH. Also how do I get rid of these bloody ads.
Who
Started: Neversellshell22, 18 Jun 2024 01:34
Last post: AlexTrader0, 18 Jun 2024 09:03
FT
Labour drops plan to backdate UK windfall tax on oil and gas
https://www.ft.com/content/0d1326b7-8c83-46bc-a9c2-56ce7bb1a109
NSSā¦I think yesterdays drop was due to broker comment, that the only way Labour could achieve the EPL tax receipts they are forecasting, is for Labour to back-date their application of the increased EPL (78% and remove allowance āloopholesā) to April. So Harbour would pay more tax than the market was forecasting. I haven't seen anything from Labour saying they would back-date the change, but fear of this happening has spooked the SP.
Not really sure what or why we have dropped over the last few days since the merger was announced. I think we are down about 10% ish.
Oil has taken a bit of a bashing but has thankfully now perked up which hopefully we will rise on today.
However we seem to have been bashed for other reasons; no idea why; is it genuine trading, the dark side buying for someone or just general Uk\Labour lash up.
Donāt forget to vote and letās get this doneā¦.There are many Reasons To Be Cheerfulā¦ā¦
Started: Neversellshell22, 18 Jun 2024 07:10
Last post: Neversellshell22, 18 Jun 2024 07:31
Last 2 I notice were paid out in September but different this year I guess??
Any idea when our next dividend might be.?
Oil looking better than recently so hoping for a positive day.
Be pleased when all this is sorted as the uncertainty certainly doesnāt help although looking good and early July meeting should get it pretty much done and dusted.
Thatās when Harbours work really begins and hopefully next year Zama will lick offā¦.
Started: NAV_Mike, 17 Jun 2024 08:14
Last post: Jackabe, 17 Jun 2024 08:22
Presumbly caused by people's lingering perception of what Labour are going to do to NS investment. Brent is barely changed, and FTSE is up a bit
CraigJD, "Berenberg cuts Harbour Energy price target to 356 (360) pence - 'buy'''
What is the point of that?"
Often wonder myself, but conclude that thay simply want to have a more recent Rating and to push their Buy maybe.
Lol, only an opportunity for someone to load up here (the likes of Carlos Slim whoāve already been doing same)!
''Berenberg cuts Harbour Energy price target to 356 (360) pence - 'buy'''
What is the point of that?
I'm back in too at 297p. Not as much as before but plan to add over time. My view is that Harbours UK operations will benefit of CCS subsidies.
Benefitting from the Labour Manifesto effect....well done
How can these political parties be so economically illiterate? What windfall profits exactly?
Started: Neversellshell22, 14 Jun 2024 22:44
Last post: Jackabe, 15 Jun 2024 00:45
This boards getting like a special needs classroom
He dumped his shares š
Soon to be debt free........
Are you straight out of play school
Blair has been our president since we started due to the fact that Harbour was largely funded with EIG money. He has been with them for 25 years and was a founding member and they have about 25$ Billion in investments.
If this was as good a deal as we are being sold why didnāt they come to the party.
Any thoughts?
Started: Neversellshell22, 14 Jun 2024 20:51
Last post: Neversellshell22, 14 Jun 2024 20:51
Our Slim friend now owns over 10% of the Zama oil field through Harbour and Talos..
āAs of December 2023, Carlos Slim HelĆŗ Slim's net worth was $105 billion, making him the 11th richest person in the world and the richest in Latin America. His wealth comes from investments in real estate, collectibles, and stock, as well as his stakes in a number of industries through his conglomerate, Grupo Carso SAB.ā
Follow the moneyā¦
..
Started: Neversellshell22, 14 Jun 2024 20:39
Last post: Neversellshell22, 14 Jun 2024 20:39
I thought she was quite a big holder but she actually only owns 0.20% of the company.
Also worth remembering that EIG are our biggest holder with roughly 130 million shares worth 17% of the company.
Anyone confirm these figures?
Started: Neversellshell22, 14 Jun 2024 18:47
Last post: Neversellshell22, 14 Jun 2024 18:47
Carlos Slim increases stake to over 8%
GLP shorts continue to reduce
Zama FEED contract issued and Khan 2 drilling any time now.
UAE asset divestment.
European Commission agrees to approve acquisition.
Drilling rig in Norway booked until 2028 showing long term commitment.
CEO visits Egypt and commits to major investment.
CEO and others increasing already big stake in company
Debt almost removed.100m $ remaining.
Sensible hedges to protect investment grade in 2025
Currently production 511k BOPD, ahead of forecast
9% Year on Year dividend growth
Talbot first oil end of 2024
Indonesia huge potential with another massive discovery at Tangkulo.
Layaran 2 drilling currently.
Ever improving safety record.
Viking CCS progressing to FID & massive potential with Wintershall projects.
2025 Free Cash Flow marginally improved on 2024
Fenix Argentina field on production by end of year.
FT100 promotion to SP increase stability later in year.
Investment Grade financing to reduce cost of borrowing..
Started: Kokomo, 14 Jun 2024 17:49
Last post: Neversellshell22, 14 Jun 2024 18:07
GLP do a lot of shorting by the looks of itā¦.
https://whalewisdom.com/short_position/holder/glg-partners-lp
HBR - Further Short Reductions, AGAIN!
Surely, this MUST be an EXCELLENT SIGN:
Once more, fantastic to note, especially again and again, still even further reductions in HBR Short positions here as evident once again today, this now incredibly being the EIGHTH consecutive/back to back rapid short position reduction by GLG Partners LP during the months of April, May, and now June (3, 4, 5, 16, April along with also 09, 17, and 21 May, and now 13 June 2024) resulting in GLG Partners LP going from 1.3% Short HBR in March to now disappearing to under 0.5% today!
So let the trend be your friend!
https://shorttracker.co.uk/company/GB00BMBVGQ36/
Started: Persilchat, 14 Jun 2024 16:31
Last post: Persilchat, 14 Jun 2024 16:31
Nothing has really changed everything in place for Q4. Going to have a Labour Gov but that was expected, and HBR will be so diversified by the time Labour start to hammer the North Sea even more. Labour meeting lots of CEO this week the usual crowd of IT & A1 Companies who want Data Centres, but we have an Electricity Grid that cant cope, hence its raising Billions to upgrade, and is Years away. They are going to need Gas and Oil just like rest of the world so either from UK or Imports. Oil and Gas is a world wide commodity and now in HBR we will have a truly independent world wide Company. Don't think anything much happening other than a shake out of shareholders before we get listed in FTSE 100 IN q4.
Started: Collingham13, 14 Jun 2024 12:48
Last post: Kokomo, 14 Jun 2024 14:57
When carefully reviewing Kier Starmerās words/history, there will highly likely be some potential restraints in this respect (O&G) by Labour going forward but it will only come after the elections and certainly nothing before; as we all know by experience, there are no legal obligations (apart from the electorate) for the parties to fully abide by their pre-election stated manifestos!
We all know the Wintershall deal will diversify HBR at just the right time, but I think this week has just been about the damn Labour manifesto and their desire to raise the EPL and scrap investment allowances. Its just put a downer on things regardless of our great things to come.
Plus markets in general have bee gloomy after the euro-elections
On tue/wed news was about massive glut of oil by 2030ā¦then news switched to a price drop in 6 months timeā¦.then a counter report today saying despite more oil being turned onā¦we still wonāt have enough. What to believe.? Oil price looking good this weekā¦but Harbour hammered. I appreciate all the expert fundamental analysis on this boardā¦.clever stuffā¦but in my view this share is being played to shake out nervy traders. I am just looking forward to the next healthy dividend with the belief this share will only go up once deal has gone through. All inmhoā¦all the best to you all.
Started: theancientmarine, 13 Jun 2024 18:31
Last post: AlexTrader0, 14 Jun 2024 08:19
Today RNS Here - Carlos Slim & Co. Further Increase their HBR stake by going from 7.1% to now 8.1%
Great News/Endorsement here by Carlos Slim & Co./CONTROL EMPRESARIAL DE CAPITALES, S.A. DE C.V. whom have just further increased their stake in Harbour energy to now 8.1% (from previous 7.1%)!
Started: Kokomo, 14 Jun 2024 07:22
Last post: Kokomo, 14 Jun 2024 07:22
Standard Chartered: Oil Markets Will Soon Face Significant Supply Deficits
StanChart has forecast 1.68 mb/d growth in 2024 and 1.41 mb/d in 2025.
StanChart has reiterated its previous assessment that not only can the markets absorb the extra barrels by OPEC+ producers but that a deficit is likely to appear in the latter part of the current year and carry over to 2025.
Following the post-OPEC+ meeting selloff, Standard Chartered pointed out that thereās no justification for selling at a pace that even surpasses during the pandemic.
https://oilprice.com/Energy/Crude-Oil/Standard-Chartered-Oil-Markets-Will-Soon-Face-Significant-Supply-Deficits.html
Started: Neversellshell22, 13 Jun 2024 17:43
Last post: kign, 14 Jun 2024 06:49
Not sure who will buy it. production seems decent with reasonable reserves.
Hi Kign,
Thank you for your thoughts and comments.
Do you think Harbour are big enough to keep all the assets or sell on ones ( maybe Germany) which they donāt consider core.
Buy backs will be interesting going forward and may be away to help BASF leave the scene albeit long term.
I think the Ā£3.60 current valuation is not too far off from mine with those numbers published. A few additional considerations that I think we'll need to be mindful of:
1. I think there is alot of room to reduce the Wintershall costs as the current numbers seem to include a significant chunk of redundancy costs and the absorption of Russian unit costs?
2. the 2C resource portfolio has quite a number of projects that are very close to being sanctioned and hence will be additional 2P reserves eg Zama. I'm also surprised with the amount of 2C resources in Argentina. Adding to HBR's Indonesian finds, this bodes a very good future going forward.
3. Labour's hostile oil and gas policies should have been priced in and I don't think HBR had used much of the tax clawback incentives (maybe only Talbot?), so don't see much change in the UK side of the business except that the UK 2P reserves will have to be reduced eg some of the sanctioned infill well projects & planned electrification may have to be cancelled as they are no longer economic without the tax clawback.
4. Labour made a mention of CCS in their manifesto, I've always thought that this business will not work without government subsidies. However, this is a great chance for Labour to say that CCS investment will be tax deductible (UK's answer to 45Q) and classify that as creating green/blue jobs, helping with the north sea transition. I'm also surprised with the extent of wintershall's involvement in CCS in the UK & Europe.
Other than that, very impressed with the Norway assets despite the high taxation.
Iām really surprised itās so quiet here and hardly any comment about the deal.
Looks like itās a goer and then the great Slexander will do his stuff with the finance.
Not a pretty day out there with all boilers being bashed but these things come aroundā¦
Iām most excited about Argentina as there seems to be plenty there and then Mexico which is finally kicking off, at least the FEED.
Love to know the plans of BASF and also what Slim is up to.
Oh wellā¦. Thatās another 510,000 barrels in the bagā¦.