Member Info for Ammu123

I justed wanted to point out the calculations that you posted were wrong....
I am not sure what calculations you want me to post as breakeven for all 3 companies are on their respective RNS’s.....

Strong free cash flow generation enabled the Group to make early voluntary repayments of the senior credit facility, which was reduced by $325.0 million during the year, including $120.0 million associated with the April 2020 scheduled amortisation. A further $35.0 million was repaid in January 2020 as an accelerated voluntary payment of the October 2020 amortisation. No further amortisation payments are due in 2020. At the end of March, the senior credit facility, excluding payment in kind interest, totalled $425.0 million

Enquest have made early payments for 2020 so they haven’t deferred any payments for 2020.....

Slift, at spot Brent prices all 3 losing money.
Tlw and pmo needs 35 oil for remainder of this year.
Enq needs 25 for remainder of this year....

Oiluser relax it’s just a comparison.

Slift again you missed the point. From the rns that you posted:
With the benefit of the Group's hedging policy and production remaining on track within the Group's 70-80 kbopd guidance range, this results in a free cash flow breakeven oil price of c.$35/bbl for the rest of the year.

Important “ With the benefit of group hedging policy”

The 35 breakeven is taking into account hedging....DYOR

How is that wrong ?
Can you point me towards the information RNS?

Slift, from tullows final results:
· 2020 free cash flow forecast of $50-$75 million at $50/bbl; free cash flow breakeven of c.$45/bbl

It’s $45 however reduces to $35 with hedged oil.....
Your calculations are wrong unfortunately. DYOR

From the final results:

Given the prevailing low oil price environment, we have taken decisive action to lower our cost base, targeting $190 million of operating cost savings in 2020, equating to unit operating expenses of c.$15/Boe. With these significant cost reductions, cash flow breakeven is estimated at c.$33/Boe in 2020. With realisations in the first quarter of 2020, the cash flow breakeven falls to c.$25/bbl for the remainder of the year. 2021 cash flow breakeven is now forecast at c.$27/Boe, with unit operating expense of around $12/Boe. With these significant reductions, we are well positioned to manage through a sustained low oil price environment.

"Our three largest assets continue to generate meaningful operating cash flows, even at low oil prices, and, in the medium to long-term, offer low-cost resource maturation opportunities which are aligned with our proven differential capabilities."

Oiluser, yes guidance is reduced and breakeven for 2021 is $27 with reduce guidance for enquest...

Oiluser read the article:

https://www.thetimes.co.uk/article/enquest-is-steadying-the-ship-in-the-north-sea-amid-yet-another-storm-v5tvfmw5n?shareToken=99820f93ec9139cab8e974f1a10fc053

Massive error in your calculations.
First of all it’s Brent prices you should be calculating.
The 35 barrel is taking into consideration hedged oil.... and same for pmo (35) and enq (25)....

For Enquest the steps are crucial to its survival, helping it to cut costs of$300 million this year. It plans to focus on three core fields where it believes that it can cut costs to $15 a barrel this year and $12 next. “If you’d asked me when we started the company ten years ago, I thought that would have been an impossibility.” The cost-cutting should enable Enquest to generate enough cash to cover its company spending even at lower oil prices. Last year it needed $50 a barrel to break even; this year that should fall to $33 on average, requiring only $25 a barrel for the remainder of the year.......

I’ve noticed a lot more cars over the weekend and does not really feel like a lockdown tbh.
All helps towards fuel consumption......
Looks like Boris will be moving towards phased lockdown ease measures from next week. Bullish for oil......

Enquest fcf for the remainder of 2020 is $25......

Charts points towards 14p.....

Chilting did you use to work for enquest ?
Is that true ?
My sources tell me ...

Is that you chilting? Lol

https://markets.businessinsider.com/commodities/news/oil-price-goldman-tells-bulls-be-patient-expects-stages-rally-2020-5-1029156037

Not sure about 60 this year but I see 40 soon.
At 40 enquest fcf as per AB would be amazing....