Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Good post and article. Maybe the deliquent mps should now start to consider voters who are either or approaching retirement age as many of them have true experience of life. For me this lot will not be happy until they finish the n sea off and then come to the rescue by asking the majors to help out. I will not be voting for any of them due to the damage they are causing not only with companies such as Serica and our energy needs, but also supporting war crimes. Let alone with threats of means testing the state pension.
Scum buckets the lot of them inmv
‘Oil and gas seen as ‘devil incarnate’ complains North Sea dealmaker’
https://www.energyvoice.com/oilandgas/north-sea/552748/oil-and-gas-seen-as-devil-incarnate-complains-north-sea-dealmaker/
Added a few more to holding in between 182p to 182.9p 👍
Gas and Oil all down past couple of days....
WTI l 79.361
Brent 83.727
TTF Gas 28.61
UK Gas 69.5737
Over 10% drop inside two days ??
Whats gone wrong??
Petrofac still working, Deltic has its own problems - no money, Serica's busy schedule mapped out and proceeding and dividend secured.
Waiting with baited breath.
I have done a bit of digging and found that the rig for drilling the five wells at Bittern, Gannet, Guillemot, Evelyn and Belinda is the COSL Innovator.
The rig is currently drilling in Norway for Equinor.
The other client listed for the Central North Sea UK is Petrofac.
cosl.no
https://www.offshore-mag.com/subsea/article/55020788/serica-energy-serica-commits-to-north-sea-belinda-triton-tieback
Yup, more likely to be Deltic - lack of investment etc..
PFC will continue in some form or other.
I don't see it as an issue as bond holders will convert to equity. It's petrofacs shareholders who are going to suffer more. Not companies such as Serica. Personally I think the Deltec situation is the main reason for the fall. Maybe we're going to fund them via some kind of merger.
As far as I am aware, Petrofac carry out the well management services for all of Dana Petroleum's North sea assets, including the Triton FPSO and Western Isles FPSO.
So, I would guess they are heavily involved in Bittern, Gannet E, Guillemot NW, Evelyn and Belinda.....
A bit harsh inmv. Maybe the answer is to send all of them to the Gazza strip during the summer recess. Then they would just become another statistic amongst the 100,000 casualties so far. They like statistics judging by how they treat the electorate inmv and omho.
Looks like Petrofac is in serious trouble. Shares suspended today.
Petrofac is an O&G engineering company with a lot of business in the North Sea. Not sure about their criticality in Serica's supply chain but if they're heavily involved in engineering or operations, this might explain the SP drop.
I would hope Serica wouldn't be too dependent on just one company.
Hefty drop today and thought we had see. The back of £2...any views on this bouncing or getting worse... Not sure I understand the petrofac relationship?
Normally I would say due to more sellers than buyers, but not the case today, especially if we are mopping up and placing into treasury. Deltic situation made worse by Shell playing hard ball, but yet again a salvo fired at politicians and inept government.
My other oilies, KIST,ECO,i3e are all firmly in the blue, so it must be more than just Deltic.
Perhaps Petrofac are our incumbent driller - and the bottom has dropped out of them today????????
DELT RNS:
"The struggle to find a way forward on a project like Pensacola, which is one of the largest discoveries in the North Sea in recent decades, is a real-world consequence of our political leadership using the nationally important oil and gas industry as a political football at a time when energy security is of paramount importance.
Given the impact of fiscal and political uncertainty on investment decisions we have seen a shift away from investment in larger standalone projects, like Pensacola, towards more affordable, lower risk opportunities which defer decommissioning or increase infrastructure life such as Selene, and the Company's Syros prospect in the Central North Sea, where we have seen an enhanced level of interest.
Deltic dragging hbr and us down today... What a Croc.... This govt and labour need shooting... Is there aim to destroy the sector... Oh yes it is.
"Norway Plans to Develop a New $570-Million Oil and Gas Field - ''The world will need oil and gas for many years to come, so it is important that companies continue to develop new projects and help sustain long-term petroleum activity'' Minister Aasland said in a statement
https://oilprice.com/Latest-Energy-News/World-News/Norway-Plans-to-Develop-a-New-570-Million-Oil-and-Gas-Field.html
I wonder why the shares aren’t being cancelled that are being purchased by the company!
Why are they holding them in Treasury?
Now nearer 12% Newkotb.
It is now looking like the buy backs are just postponing any drop in the share price. Not looking good when these end inmv. Which at the current rate will not be long.
I'm in.
"Dividend yield will be ~11%, which is higher than the industry average of 6.7%."
I think people as a whole are now not so stupid and can see through things a little more better now. The problem inmv is that people will just not vote due to politicians collective incompetence . For me I cannot stomach the funding of possible war crimes. .so for me I doubt I will vote for any of them as they all seem to stand for the same inmo .
SQZ needs to get out of the UK. Politicians of all parties are intent on confiscating O&G profits since they think it's easy money and most voters don't care. Sensible voters realise it's a slippery slope which could lead to some serious, life-changing injuries.
Final dividend of 14p per share (ex divi 27.06.24) increasing total dividend to 23p & started a £15m share buyback, in addition they are exploring opportunities outside UK (less tax)...with current and projected Oil and Gas prices looks like SQZ have their 'mojo' back 👍
Excellent news. North sea oil and gas companies should be taxed further . Lets say ninety five percent. I dont know about you , but why should i pay more for my gas bill and also we need to fund bae and rrr to protect all our lives. Hmmm.
We made ‘This is money’… yesterday..
https://www.thisismoney.co.uk/money/markets/article-13346543/Tory-windfall-tax-war-killing-North-Sea-oil-Serica-chief-blasts-Labour-plan.html