RE: Lincoln Crestal15 Aug 2019 02:18
Wellwell,
"It makes no difference to the play other than a delay if there are problems. As long as the TD is eventually reached all will be as it was."
It's one of those rare occasions I agree with you!
Per my earlier post, I'm remaining 'backseat' now. Nobody's volunteering info to me, and I'm not picking up the phone to go searching for any. I don't know what's going on out there and I'd prefer not to in case I misinterpret it again.
All I do know is that I don't like seeing supply-boats haring off to Scrabster. That's not a resupply, it's a hotshot of some sort...
I've got a weird (though underline not BAD) feeling about this drilling campaign. Hurricane has now turned into a producing Oil Company. It's not the same beast as back in 2016. And there are now hundreds of people involved shoreside instead of just a handful. There's a Drilling Department involving three parties: Hurricane, Petrofac and Spirit, all working in an office in Aberdeen, in close collaboration with the Drilling Contractor, Transocean. Plus no doubt a Production Dept. as well, taking care of the EPS and the Akoa Mizu, etc.
Such rapid growth can also result in inefficiences, though, especially when it comes to the pointy-end stuff.
I'm not sure what exactly Wellwell is referring to when he talks about elephants in the room, and won't speculate. Furthermore, I'm a great believer in a certain adage that 'spotting the elephant in the room is one thing, but don't forget that once you've got rid of the beast, there may still be a snake hiding in the corner'.
Petrofac / SPD obviously made some in-field balls-up mistakes on the last well, of which were now aware. In the end, they had no bearing on the final outcome (to our knowledge), which wasn't great. Other than to create costly delays, and having income from Lancaster doesn't excuse that. I'm just hoping they haven't done the same thing again.
I think that in their next Quarterly update, Hurricane might do worse than add a little bit more meat to the bone about how Operations are actually being run. Maybe a little 'family tree' thing. We know who the BoD are: they haven't changed much. But it'd me nice to know who's running Drilling at top operational management level, likewise Production, and so on. You know, a few more 'portraits', as if this were a FTSE company instead of AIM.
I could personally easily find out, of course, but prefer not to.