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Petren expressed exactly what I concluded from the article, which I posted without comment.

It seems to me that, unless Tekmar were actively encouraging the industry to omit the customary second rock layer, it is unlikely that they have any liability.
I do not currently hold Tekmar but am considering acquiring some following the recent dip.

'The method where the inter-array cables were left unstabilised was adopted industry-wide at the time.'
https://www.offshorewind.biz/2021/04/30/orsted-points-at-possible-reason-for-eur-403-million-cable-problem/

The issue occurs when the cable protection system (CPS) moves across the scour protection, the rocks placed on the seabed around the foundations to avoid seabed erosion, abrading the CPS and in the worst-case scenario causing the cables to fail.

It appears now that the second layer of rock placed on top of the cables could have prevented the damage to the CPSs.

”For the first many wind farms we built we had another solution. First we had rocks around a monopile, then we had a cable coming out, and then we put rocks on top again,” Marianne Wiinholt, Ørsted’s Chief Financial Officer, said in a conference call about the company’s Q1 2021 results.

”Then, together with the industry, we thought that there was a better solution, and therefore we did not put the additional second rock layer on top. That was believed to be the best solution and we used that for ten of our wind farms. We have now found out that this is not a good solution, so for the wind farms we are constructing now, Hornsea Two and Changhua 1 & 2a we are stabilising the cables again.”

When asked if this could be a generic problem for offshore wind operators and owners, Wiinholt said that the method where the inter-array cables were left unstabilised was adopted industry-wide at the time.

Definitely wishing you good luck, bunks.
G is not alone: It's been a dismal week over at RDS and, to a slightly lesser extent, at BP. Despite 'good' results RDS remains flat over the week at a very low level relative to OP. Given that Brent is near $68, the sector is looking very weak indeed. Hopefully the summer months - the traditional US driving season etc - will see some lift from end of May onwards.

UT: a matter of backroom book balancing at the end of the trading day....

Well I think it's actually the result of the end of day auction, which is why it establishes the closing price.

Correction:
Both RDS and BP are down since their mid-March highs: but there is little doubt as to which one is performing better at present, with RDS about £1.24 down on the level it would need to match BP over the period: https://invst.ly/umx--
(RDS is about 40p down comparatively in this week alone).

It shouldn’t be a surprise that profits were taken when the spread over two days effectively equalled the annual dividend and when BP suffered a similar pull back after its results on Tuesday. BP, however, has largely recovered its results-day gain thanks, it seems, to Brent and the wider market. RDS rose in anticipation on Wednesday but ultimately fell back to pre-result levels.:
https://invst.ly/umxh7
Both RDS and BP are down since their mid-March highs:
https://invst.ly/umxau but there is little doubt as to which one is performing better at present, with RDS about 40p down on the level it would need to match BP over the period. Perhaps it will recover that over the next few days as the results sink in.
Meanwhile, if you believe that the sp moves in fairly regular cycles - RDS is certainly in a familiar pattern - then June/July could yet see a ‘driving season’ high in the £15-£16 range:
https://invst.ly/umwat

Brent is heading back towards its 2021 high:
https://invst.ly/ump1l
Along with Natural Gas, which is near $3.
https://uk.investing.com/analysis/with-natural-gas-at-3-are-bears-yelling-get-me-out-of-here-200471764
Interesting article re price drivers for OP:
https://uk.investing.com/analysis/5-market-catalysts-driving-oil-prices-higher-200471792

Ha! Getafgrip - it was your change of deadline to tomorrow's close that I was querying. I think most folks here are in for the Endurance Trophy - I'm absolutely with your comments. ATB.

No fall back, Kay, but RDS remains at the bottom of its price range. Here it is is , against Brent and BP over the last six months:
https://invst.ly/umn2v
So far today, the Q1 statement has just about stopped the slide of the last month. That's a start but we obviously want to see it build back better, to use a phrase I've heard somewhere.

Barriepov £12.90
Android101 £13.25
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Pokerchips £13.64
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picstloup £13.75
NSS £14.00
Getafgrip £14.15p by close of play Friday. (is that a different trophy?)

I have no expectations in either direction, Char. I am fortunate enough to be 'above water' in RDS. So a drop might tempt me to add when the recovery starts as I always prefer to average-up on a rising trend than average down on a falling one (I avoid the latter as the bottom is nearly always further down than I anticipate). BP didn't exactly produce fireworks despite apparently being the pundits' favourite of the two, so the odds of a significant rise seem low whilst I think most of the gloomy news should already be priced-in. In short it could turn out to be a damp squib. Anyway - GLA when the market reacts!

The only consolation I can offer, bunks, is that G has matched the performance of Chevron - which I still regard as the benchmark standard - over the period from pre-COVID 2019 to today and has markedly outperformed RDS over the same period. https://invst.ly/umg00
This is despite the double whammy of being hit by payment issues during a terrible year. It's a mixed blessing - the likes of RDS presents a more obvious 'recovery' proposition for some investors. However, G is still well below its average 2019 levels despite OP performing reasonably well. Unlike the majors where volumes of different products can vary and they have downstream activities that have been badly hit, G sells what it pumps - so when the price of Brent is strong then so is revenue and cash flow providing payments are maintained and receivables are being recovered.
I certainly expect to see things lift during this quarter but, you are right, market sentiment in this sector is not good.
RDS Q1 results are out tomorrow - I feel they should really have little relevance for G but we saw what happened on 'BP day' this week. If there's disappointment about RDS and G takes a hit tomorrow I may well add G rather than RDS because I feel the price will be more agile as demand for oil -reflected in OP - picks up.

Well the 'BP effect' seems to have fizzled somewhat, it didn't last over at BP itself. A bit too early to say that G is back on a downward drift but it's hardly secured 165. So, looking a bit flaky. RDS results tomorrow are not expected to be brilliant either.
https://invst.ly/um32y
Given that G is very very different to the majors and more directly influenced by OP, the current sp is very disappointing at less than 2.5xBrent.

Yes - BP's results seem to have fuelled a turn-around, with G breaking upwards through the downtrend, indicating a probable reversal of direction:
https://invst.ly/ulkym

In my comments earlier today, I was obviously not expecting that spike. Brent, BP and RDS all saw a lift during the day and G appears to have reacted a bit late. The end of day auction pushed the closing price back below the critical short term trend - so it didn't break out today but who knows tomorrow? Bearing in mind that the UT was above the level seen for most the day, it certainly looks possible that G might continue and regain the 165 level in this 15 min view: https://invst.ly/uldba

I certainly wouldn't trust my predictions against your instinct on the day, Tartine, I'm just trying to express what the current trends are doing. I don't think I'm quite so interested in topping-up as you are, so I'm thinking of the 'bottom' as a 'worst case' rather than as an opportunity - and that colours my comments. If you are keen about buying before ex-div then it's quite possible that today's price will be the low because pundits have been predicting good results from BP tomorrow and what's good for majors often does rub off on G. Whatever you do 'Bonne Chance!'.

G is still being pushed down by the medium-term (month+) red trend and shows little sign of breaking upwards through it. The longer term (year+) orange trends provide a more optimistic outlook, bearing in mind that, in addition to COVID and last year’s OP war, G is also recovering from the payments issue.
https://invst.ly/ul8j9
The approaching ex-div in 17 days should be priced-in: some might sell into it whilst some will hold through it. In the two days following ex-div last year, the price spiked downwards by about 2x the dividend but recovered within a week, driven by OP. If BP and RDS report good Q1 results this week then G may benefit from the sector glow that will follow but, otherwise, it still seems to be heading towards 145-152, with 145 being my guess for the lowest ex-div level although I’m hoping for better.

dflynch: Presumably the emphasis will be on electrolysis using solar/wind energy - where higher efficiency would reduce the plant required but where the energy source itself is free?
There's no doubt, however, that your essential point regarding the continued ongoing need for fossil energy is correct.
Few, if any, politicians or activists promoting 'save the planet' policies seem to address the core issue that expansion of the human population, with its attendant demands on energy, minerals, agriculture etc. not to mention the generation of waste (including CO2) are at the root of the existential problems that will face future generations. The planet itself does not need saving, rather its inhabitants.

Good article Pokerchips. I think we all figure that there is a closing window of opportunity for oil co's to flourish and transition or flourish and wind down. As shareholders what are our expectations? BP apparently intend to re-start share buybacks - is this what we'd like from RDS if they have surplus cash?

True -Since its last results, on Feb 4th., RDS has certainly flagged against Exxon, Chevron and BP which are all up about 14% compared to RDS which has gained just under 4% over the period. They are all down, of course, since their highs of March 12th:
https://invst.ly/uko8q