Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
Unsurprisingly, someone(s) loading up here with off and on book trades, live trading volumes looking very decent so far.
HBR is no longer the same company (although it was still very much undervalued even before the Wintershall Dea M&A and hence the 360p agreed premium), as with any share trading, there will of course be fluctuations here along with bad or good market days but HBR SP will be lot harder to manipulate and eventually guaranteed to be easily back in the FTSE 100 post deal closure.
Simply focusing on medium to longer term here (max circa 1 year), HBR upside potential today by far exceeds any other Oiler or even FTSE 250 company, daily fluctuations are irrelevant while BASF deal and ongoing prolific Exploration & Development projects are in progress.
Washington Post
A missile has struck a US-owned vessel off Yemen in the Gulf of Aden as Houthi attacks continue
https://www.washingtonpost.com/business/2024/01/14/houthis-us-yemen-israel-palestinians-gaza/1f7ef7a8-b350-11ee-b285-0853d4d1b92f_story.html
It’s actually a fantastic update on the initial news released via Mubadala last December.
@theancient, Great Post.
I expect HBR will provide progress updates on M&A and ongoing global Exploration throughout the year but particularly by the AGM in May.
I guess with all that’s been going on, now no one wants to be Short O&G going into the weekend.
Standard Chartered are generally well clued in Asia, I usually take note of their analysis, although of course short term anything can happen anytime in the markets but HBR is looking good this year if you have a longer term outlook.
Standard Chartered:
“Oil Demand Balance More Bullish Than 2023”
Commodity analysts at Standard Chartered have reported that silver and distillates are the only commodities whose investor positioning has changed significantly from a year ago.
Standard Chartered: oil could be undervalued by at least $10 per barrel.
Supply and demand balances are significantly more bullish compared to a year ago, when an outsized January surplus of 3.5 mb/d led to a large 1.6 mb/d Q1-2023 surplus.
https://oilprice.com/Energy/Crude-Oil/Oil-Demand-Balance-More-Bullish-Than-2023.html
Even-though Brent and Natural Gas prices are now rallying but still most Oilers are down today along with the broader market, hopefully a better day here tomorrow.
Apparently BASF wants to exit O&G E&P business, and from H2 this year HBR will be increasingly involved with Wintershall Dea assets until drsk closure in Q4.
Although still insufficient but at least another step in the right direction here, hopefully more to follow:
UK: Chamber secures Energy Profits Levy concession to protect North Sea jobs and investment
The UK Government will make changes to the windfall tax from April following a campaign by Aberdeen & Grampian Chamber of Commerce.
HM Treasury has confirmed its intention to inflation-adjust the price floor at which companies no longer have to pay the additional levy.
The decision follows direct calls, from the Chamber, for the UK Government to recognise the damage the tax is having on jobs and investment in the UK Continental Shelf.
https://www.energy-pedia.com/news/united-kingdom/chamber-secures-energy-profits-levy-concession-to-protect-north-sea-jobs-and-investment-193821
Yahoo Finance:
This FTSE 250 stock could soar 30% in 2024!
https://uk.finance.yahoo.com/news/ftse-250-stock-could-soar-080000008.html
harbour (hbr) propels energy reserves exploration efforts
harbour energy (hbr) , the u.k. based exploration and production player, has initiated the drilling of ***o-1 exploration well on dec 31, 2023, offshore indonesia.the company plans to deploy the west capella ultra deepwater drillship for the ***o-1 project, which reported a major gas discovery in the layaran-1 exploration well, undertaken by mubadala energy. the company also declared that ***o-1 would be drilled upto a depth of 11,733 feet.banking on the success of the layaran-1 well and the timpan-1 exploration well, skk migas, indonesia’s government regulator, hopes to discover significantly large reserves of oil and gas in the ***o-1 exploration well. migas declared that the drilling should take around 78 days to complete, including well testing.the regulatory body added that the well’s potential recoverable gas reserves were 723 billion cubic feet with 33.5 million barrels of liquids.building on the previous success of substantial natural gas reserves in the timpan-1 exploration well in 2022, the ***o-1 exploration well project is aimed at discovering potential gas reserves in the andaman ii block, off the coast of indonesia.harbour holds a 40% operating interest in the andaman ii block through a subsidiary, alongside mubadala energy and bp, which hold a 30% stake each. mubadala energy operates in the south andaman block, where the layaran-1 exploration well was drilled. harbour shared its plan to drill four exploration wells in the south andaman block, in a partnership with mubadala energy.hbriy is a london-listed independent oil and gas company. apart from holding a leading position in the u.k., the company has interests in indonesia, vietnam, mexico and norway as well.
BW Energy extends contract for BW Catcher FPSO in UK North Sea
BW Energy announced that its BW Catcher FPSO’s contract has been extended beyond its fixed term. The FPSO is leased out under a seven-year fixed term contract, with extension options for an additional 18 years.
The original seven-year base term of the contract expires on Jan. 6, 2025. From Jan. 6, 2024, 2024, the contract is subject to a rolling 12-month termination right. Until a termination notice is received, the contract automatically extends on a day-to-day basis beyond Jan. 6, 2025, into the option period.
The Catcher field partnership is made up of Premier Oil UK Limited (Harbour Energy) (50%), Waldorf CNS (I) Limited, Waldorf Production UK PLC (40%) and ONE-Dyas E&P Limited (10%).
OILPRICE
Standard Chartered: Oil Demand Growth To Remain Robust In 2024 And 2025
Standard Chartered have predicted that oil demand growth in the current year will clock in at a robust 1.54 mb/d and 1.41 mb/d in 2025.
StanChart has forecast that global oil demand growth in 2024-2025 will remain above the longer-term average.
The analysts have predicted that global monthly demand will move above 104 mb/d for the first time ever in August 2024 before eclipsing 105 mb/d in August 2025.
https://oilprice.com/Energy/Crude-Oil/Standard-Chartered-Oil-Demand-Growth-To-Remain-Robust-In-2024-And-2025.html
Goldman: Oil Prices Could Double if Houthi Attacks Continue
Houthi rebels have attacked commercial shipping more than 20 times since November, using various methods.
Major shipping companies like Maersk and Hapag Lloyd are avoiding Red Sea and Suez Canal routes due to security concerns.
Operation Prosperity Guardian was initiated by the U.S. to protect commercial traffic, with support from other countries like the UK, Australia, and Canada.
https://oilprice.com/Energy/Energy-General/Goldman-Oil-Prices-Could-Double-if-Houthi-Attacks-Continue.html
@asartara, This here is straight from The Harbour Energy Wikipedia page:
Harbour Energy plc is an oil and gas company based in Edinburgh, Scotland. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
The company was established by the commodity trader, Noble Group, and the private-equity firm, EIG Global Energy Partners, in July 2014.[5] The initial funding was US$150 million from Noble Group and $50 million from EIG Global Energy Partners.[5] The company provided financial backing for Chrysaor Holdings to acquire assets valued at US$3.8bn from Royal Dutch Shell; the backing led to the company becoming the largest shareholder in Chrysaor Holdings.[6]
In June 2020, the company announced the provision of backing to enable Chrysaor Holdings to acquire Premier Oil.[7] In March 2021 the company merged Chrysaor Holdings and Premier Oil and absorbed both into Harbour Energy.[8] It was announced that the merged business would be managed by Linda Cooke, who had been CEO of Harbour Energy since it was established.[7] The transaction also made Harbour Energy the UK's largest independent oil and gas business.[8]
In 2023, the Indonesia oil and gas regulator SKK Migas approved the first plan of development for the Tuna offshore gas field, operated by Harbour Energy, with a total estimated investment of $3 billion.[9]
https://en.m.wikipedia.org/wiki/Harbour_Energy
Now as for the once ~£100+ share price and ~£80 Billion Market Cap here to which you refer according to/when looking at Google Finance, unfortunately as I was not an investor here at that time, I’m unable to provide any relating/precise details.
Https://uk.finance.yahoo.com/news/ftse-250-stock-could-soar-080000008.html
@Rookie1, But most Oilers are dropping today and might I say even more than HBR, just checkout the likes of SQZ, ENQ, ITH, TLW, even big boys like Shel, so nothing to do with HBR specific which will hopefully join the big boys by Q4, ATB.
Well, Brent and UK Gas prices are now both flying higher.