Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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I think the contract is merely a reflection of "winter" and "summer" rates.
An interesting thought from Bobsson on II:
"You will note that strangely the [contiguous] Transocean contract has been broken down into separate hire costs and periods. My thoughts are that HUR have the PBLJ for a one well drill on GLA before moving to JV drilling on GWA. We shall see, but now the rig details are in the public domain HUR may be in no immediate rush to announce the 2020 schedule."
Well,Well...JK Supremacy in details is widely known not just here.........got even his faithful followers by looks of it....Alibi must be known and commonly accepted by all....as he is such funny lad.
Yep....bark..bark....zzzzzz.lol
Yeah I know-just like a bit of fun now and again.
WW
Rather I would rely on JK pure technicals......bet he will explain much wider aspect of water formation influence on flow rates...
Ah that one! The selling out on the day before WD results....
There's no place like Home! Sweet home!
Alibi1
How you do think?.... Who did report that thread...?
Let me guess...hmm...!!???
Must be the one who don't like truth about his activity elsewhere.....(@÷@).
What did I miss?
Jaykay
Thank you for your gracious words, thought I'd better double check as noted the thread had been taken down!
It really was the most horrendous week, apart from Hurricane's SP going North for a bit:}
Empty, i'm hoping for two big fpso's and 200kbbl/d That's the rate Hur should be looking at to avoid the 'stranded asset' risk becoming excessive, imo.
gla
WW is correct.
All FPSOs are in essence of a similar design to do a similar task and its only really when the get to the later stages of the build that they require customising for a specific project.
The main factor is the size and this is to a great degree decided from the outset. The other main factor to consider is type of oil to be produced.
When hiring or buying a second hand one, it is usual for the FPSO to be reworked, to a greater or lesser degree, for the new field, which again demonstrates this point.
I cannot remember where I read it, but my understanding was that there are in fact 3 large FPSOs under construction looking for new owners. This was about a year ago, so they may not all still be available. Its a growing market so I guess they think there is ready demand for these vessels.
GLA.
Sorry meant to say:
Surely FPSO's will only be built on the expectation of being hired against a specific project?
WW,
Re : There is at least one FPSO in build not to spec. There may be others.
Hope so, Interesting nonetheless, but just an observation, are those that are being built now (see link below) for a specific project in mind?
Surely none will be built one the expectation of being hired?
https://www.fircroft.com/blogs/10-fpso-projects-creating-job-opportunities-in-2019-and-beyond-91701915274
There is at least one FPSO in build not to spec. There may be others.
EV,
FPSO's how readily available are such vessels, and ones that presumably match the performance of the AM re Turret and Buoy etc, if that is a consideration, not sure at all on that aspect?
MTV,
"The current financial situation of Spirit may have an impact on future drills"
Or it may not!
Your statement is a complete oxymoron, anyway. Spirit's partnership with Hurricane, and their bankrolling of GWA drilling next year must surely be based upon their 'current financial situation', irrespective of what that may be at some indeterminate time in the future. Otherwise Transocean wouldn't have signed the contract.
Nice try, but no cigar.
JK,
"The rig is for year 2 of the FO with Spirit, 3 further (all being well) GWA production wells... It's all in the plans published by HUR, so not exactly a close kept secret...
As a 7-8 months charter, it 'might' also include enough time for an additional well on Halifax, time will tell...¨
I read this on my phone in a café, thoght about replying, but didn't.
But you're absolutely right.
Essentially, it's 'business as projected' by the Company.
Apologies,
Latest link to most recent updated Hannam Report is as below, comment as to undervaluation still applies.
https://gallery.mailchimp.com/110d0aa5f5d9bf9478796664e/files/420bc2bd-8289-4cd3-99f4-becb4e15587c/Hurricane_Energy_Note_2019.09.20_003_002_.pdf?utm_source=H%26P+Master+Contact+List+%28Sements+and+Tags%29&utm_campaign=69b4eed3bf-EMAIL_CAMPAIGN_2019_07_02_10_23_COPY_01&utm_medium=email&utm_term=0_dd4f91613c-69b4eed3bf-98981107
'With the shares trading at 46p/sh, (now 42.90) this implies the market is ascribing no value to Hurricane’s >2Bboe of contingent resource - it trades at ~US$0.5/bbl of 2P+2C resource. The next few months of production performance from Lancaster will be very important to proving the play and Hurricane will hold a follow-up CMD in January next year to discuss this and the understanding of the 3 GWA well results.
JayKay
I hope you didn' t take offense at my post in retort to Wizard whatever's post on UKOG.
Background: best summed up as 'we live in interesting times' that much reported Chinese curse.
Rational: You have a keen sense of humour. I had a somewhat harrowing week ahead of me. Humour wins out over anything posted on a BB.
Maybe I called it wrong, bu just to say, by way of one being to another, quite atrociously candidly, if I can, in these times of degeneration and bad grammar, raise a smile, a mere whiff of hope and humour, then so be it, I plough on, though my crops be plagued with locusts.
I'm a good hearted, simple, some might say, person, with only one thing in mind, prosper all and cheers!
Murray,
Re: Was just joking about with the share price comment,
I know you were no worries, :O) there is though a strong opinion of undervaluation..., see Hannam report
https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=8&ved=2ahUKEwichLCctpzlAhVIQUEAHVKODSsQFjAHegQIBRAC&url=https%3A%2F%2Fwww.hannam.partners%2Fumbraco%2Fsurface%2FMediaDownload%2FDownload%3Ffile%3D2019&usg=AOvVaw3jrxYZpsfmZjLNQGn_XuHg
ie, 'With the shares trading at 42p/sh, we see virtually no value ascribed to Hurricane’s >2Bboe of contingent resource (most of which is light oil). To put it differently, HUR trades at a mere ~US$0.5/bbl of 2P+2C resource. This is well below the risked finding cost level targeted by oil companies of around US$3/boe and the transaction values for development assets in the industry.'
Will just have to sit it out :O)
Hi Jiffy,
I was speculating if the rig that will be on hire next year will be for drilling more producers or if it will be part of an exploration campaign, possibly a bit of both, who knows we will have to wait for some type of update from hur...
Was just joking about with the share price comment, this share hasn't been a good performer in the face of good news, I say a drilling campaign that last 2/3rds of the year is amazing news, has the possibility to transform the company, there cold be drilling 4, 5, 6 wells who's knows....
I know it's meant as sarcasm but it is a bit cynical to say shares would plummet.
This is good news and the following through of the plan. There's a lot of impatience here, and I feel it too, but we know what the future vision is and presumably believe in it. We just have to wait to see it realised, or not as the case may be.
We've got plenty of news to come WW drill results in November and then Jan for the latest on well performance.
Murray,
Re: ;'Producers or exploration I wonder??'
Hur are both P&E at this moment in time, and let's not forget we now have cash coming in from the GLA which is a very positive step in moving the company forward in order to self finance further wells. Also, some exploration/drilling may be brought forward for the GLA in 2020?.
'Knowing hur the share will probably plumbet on this next week, hmmm'
Why?, will only plummet if being heavily manipulated so that others with larger purses can get their hands on your undervalued shares, imho.