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Couple more interesting articles (both out today) regarding HBR:

Harbour Energy "pleased" by Indonesia gas discovery

https://www.marketscreener.com/quote/commodity/WTI-2355639/news/Harbour-Energy-pleased-by-Indonesia-gas-discovery-45597445/

Harbour Energy takes option on Noble jackup

https://splash247.com/harbour-energy-takes-option-on-noble-jackup/

Share Price here will likely gain momentum and “significantly” rise as the day/week progresses.

Outstanding update, finally, and now hopefully many more positives ahead.

HBR Carlos Slim (Bloomberg) article in full via Yahoo Finance for anyone without Bloomberg access:

https://ca.finance.yahoo.com/news/carlos-slim-builds-bet-firms-141436159.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvLnVrLw&guce_referrer_sig=AQAAAFF-j3GQQS4291DD5PZv-qZbVMFLoDZGWQo900agRhSoF_Cwr8L13surgEH-CIDX2oCe4TyeVSDBCSEaxTvAYIG65Zm4BCrw9-1XXu88KkVUj4KkMfX75yFSMBC1XqqOJMdBA3pnwkVgc6TxcQ8cboDNDYdJnOPj1UzO8hJx6YEq

Https://www.energyvoice.com/oilandgas/543887/harbour-energy-expands-noble-intrepid-contract-for-judy-field/

Very Nice UT/Buy at the close, hopefully setting the scene for next week and beyond.

Oil prices are undoubtedly manipulated (and even more so during this administration) but with SPR at historic lows along with continuing OPEC+ cuts this can only succeed for a limited period making PoO like a coiled spring about to jump at any moment.

ENERGY VOICE

Fitch downgrades Petrofac credit rating following share price trouble

Credit ratings agency Fitch has downgraded its assessment of North Sea operator Petrofac (LON: PFC) to a ‘B-‘ in the latest sign of financial trouble at the firm.

Fitch said its downgrade of Petrofac reflects “significant deterioration in the group’s liquidity position”.

Compared to sector peers Fitch rated Petrofac’s business profile as significantly weaker than Italian firm Saipem (BIT: SPM) and Aberdeen-headquartered Wood Group (LON: WG).

According to Fitch, a B- rating for a firm indicates a “material default risk is present, but a limited margin of safety remains”.

https://www.energyvoice.com/oilandgas/north-sea/543622/fitch-downgrades-petrofac-credit-rating-following-share-price-trouble/

I agree with your outlook bonker99, HBR has significant internal and external potential (now also with no debt, and much improved hedging), I expect news on all fronts (including M&A and drilling results on assets) in coming weeks/months, IMHO, HBR is the most undervalued FTSE Oiler around today and with right news here, can easily more than double its market cap/SP from this nonsense valuation.

Following on the latest HBR Trading and Operations update, I strongly believe that we can expect potentially game changing positive updates here via both organic growth (Outstanding "International [and UK] growth projects advancements") and Inorganic opportunities ("Material M&A") in coming weeks ahead.

"Material M&A" now looks well set/positioned with lower O&G prices and having timely sold the non-core Vietnam assets; HBR clearly looks efficiently managed, amazingly has no debt, expiring hedges (along with Tolmount East production now underway), cost management initiatives also in place, as I've said before, HBR has potential to be a Multibagger stock from these levels.

@ancient, just noticed this/your great post with which I fully agree.

Mike, I found this Bloomberg article interesting on same subject.

https://www.bloomberg.com/news/features/2023-12-01/oil-prices-face-wild-swings-with-bot-traders-driving-the-market?leadSource=uverify%20wall

“Oil’s Wild Ride Is Driven by a Disruptive Band of Bot Traders”

An opaque group of algorithmic money managers have seized control of the oil market.

Trading oil has perhaps never been more of a roller coaster ride than it is today.

Just in the past two months, prices threatened to reach $100 per barrel, only to whipsaw into the $70s. On one day in October, they swung as much as 6%. And so far in 2023, futures have lurched by more than $2 a day 161 times, a massive jump from previous years.

Means someone(s) slowly loading up here on the very cheap!

Https://www.portstrategy.com/environment-and-sustainability/partnering-up-on-carbon-capture/1489693.article

Partnering up on carbon capture

Associated British Ports has entered into an exclusive commercial relationship to collaborate on the transport and storage of shipped CO2 emissions around the UK.

Today, higher Brent prices, stronger USD$ versus a weaker Pound £GBP resulting from a hotter than anticipated US Jobs Data all bode well here for a way oversold HBR awaiting numerous/potentially significant and hopefully extremely positive company updates with also one of the world’s richest men now increasingly onboard!

https://www.barrons.com/amp/articles/oil-prices-jump-opec-cuts-a57f8112

Even today, market capitalization of Orcadian is only circa 18M which would certainly not be considered as a “Material M&A Opportunity” by Harbour Energy (nor diversification).

The Oil Demand Outlook COP28 Leaders Would Hate

The International Energy Agency said in its recent oil report that oil consumption is close to peaking, thanks to transition efforts and energy efficiency gains.

Goehring and Rozencwajg: In 12 of the past 14 years, the IEA has underestimated oil demand by an average annual of 820,000 barrels per day.

Goehring and Rozencwajg: “If the IEA’s error were a country, it would be the world’s 21st largest oil consumer,”.

https://oilprice.com/Energy/Crude-Oil/The-Oil-Demand-Outlook-that-COP28-Leaders-Would-Hate.html

Zama field (“one of the world’s biggest shallow-water discoveries”) must be one hell of a field, and Carlos Slim is by far……the richest person in Mexico today.

https://ceoworld.biz/2023/12/06/wealthiest-people-in-mexico-december-06-2023/

Cory Group joins forces with Harbour Energy, bp, and ABP in CO2 transport and storage pact

Harbour Energy, bp, and Associated British Ports (ABP) have entered into an exclusive commercial agreement with Cory Group for the transportation and storage of carbon dioxide (CO2) by ship.

The collaboration centers around Viking CCS, the Humber-based CO2 transportation and storage network spearheaded by Harbour Energy in conjunction with non-operated partner bp, as well as ABP, the largest port operator in the UK, and London-based recycling and waste management firm Cory Group.

https://www.offshore-energy.biz/cory-group-joins-forces-with-harbour-energy-bp-and-abp-in-co2-transport-and-storage-pact/

Yet another interesting RNS here today on Carlos Slim/CONTROL EMPRESARIAL DE CAPITALES, S.A. DE C.V. purchase of a further +1% stake in Harbour Energy (now in 3 relatively consecutive batches taking their total holding in HBR to +5.1% as of today!) while also maintaining a significant holding in Talos Energy and Zama field is clearly extremely significant and will highly likely lead to additional purchases by them (and possibly others) here and undoubtedly be very positive for HBR shares going forward, particularly as now we have one of the richest men increasingly onboard HBR and Zama!

Thanks Kokomo, nice update, this along with announcement of “First gas achieved at Harbour Energy Tolmount East project” highlight notable consecutive progress by HBR, now looking forward to even more significant updates in coming days/weeks/months ahead, GLA.