Member Info for chilting

Its not just carbon taxes that could clip shales wings.
Environmental legislation could do them far more damage - even implementing what they are supposed to comply with now could make a big difference.
A media campaign by Greenpeace for example could seal their fate with a Biden presidency.

e121
Clair has been developed in two phases - its the older development that would I think be more likely that Enquest will be offered a share in, in the medium term. With maybe the newer Clair Ridge within BP's 2050 timescale.

This is the older development -
https://www.offshore-technology.com/projects/clair/

TWalbyoff
There is also an older rig on the field - it has around 10 years productive life - maybe BP would pass that to Enquest as a sort of extension to the Magnus deal and then eventually in the long term Clair Ridge would also pass to Enquest operating control. All the crude flows from Clair through Sullom Voe by pipeline.
BP clearly wants to get rid of its oil assets in the long term and passing control of Clair to Enquest would certainly be a nice clean option for both companies - it could be argued that the process has already started with Magnus and Sullom Voe.

One tie up that would be exceptionally good for Enquest would be a stake - preferably as operator - in BP's Clair Field.

Clair Ridge only started production in 2018 and has a projected 40 years worth of production. All the crude from the field goes by pipeline to Sullom Voe.

So Enquest taking over as operator and gradually building its stake in the field to say around 30% could be very good news.

The partners at Clair include operator BP (45.1%), ConocoPhillips (7.5%), Chevron North Sea (19.42%) and Shell Clair UK (28%).

https://www.offshore-technology.com/projects/clair-ridge-project-shetlands/

The major implications I refer to are that it seems likely that BP will sell off more North Sea assets.
This has to be seen as an opportunity for Enquest to do more Magnus type deals - maybe Foinaven?

From a BP point of view it is clear that they wish to more away from hydrocarbons to renewables in the long term and that they are paving the way to accommodate that shift by devaluating their oil and gas assets - hence the opportunity for Enquest.

BP have given the market an insight in how they think the energy market for carbon based fuels will pan out right up to 2050.
They have restated their carbon neutral stance by 2050 or before.
Its an interesting read.

https://www.londonstockexchange.com/news-article/BP./bp-revises-price-assumptions-expects-charges-at-2q/14576833

BP have issued a very interesting statement this morning that is likely to have major implications for North Sea Oil - its a must read.

https://www.londonstockexchange.com/news-article/BP./bp-revises-price-assumptions-expects-charges-at-2q/14576833

More about Ocado Technology.
The M&S 50:50 partner in Ocado Retail.

https://www.youtube.com/watch?v=bY0nNPT75xY

I still only see pain in the short term - probably another dip - OPEC+ will I think still keep the screws on and won't extend cuts beyond the end of July - as consumption increases they will probably increase production to match.
Make no mistake they want to crush shale.
I still think that the spat between RSA and Russia was orchestrated earlier in the Spring - and it worked.
HSBC's average of $39 for Brent this year still looks correct.

Very interesting - the author is not predicting a shale recovery until H2 2021.
The only thing the author doesn't mention is the politics - who wins in November.
With a Biden win we could see oil supressed and a big jump to renewables - that could stifle out a shale recovery and give an even bigger oil supply deficit in the medium term, making a massive difference to oil prices.

Front Ull is now on her way to Singapore - just off the coast of Co Galway close to Roundstone - she had crude on board before the Kraken load - her draught is now 16.9m.

I think maybe that Ceres took a bit of a hit by association with ITM on the day ITM's trading update came out but that seems to have been resolved now and Ceres is back on track.
The main problem with ITM is that it seems to be massively over brought with a market cap of £1.422m.
I sold out there last week, ahead of the trading update, and will wait until sanity prevails.
Ceres, with a market cap of £896m seems a much better bet, especially as commercialisation is much more advanced.

Yes, and now's the time to jump in and invest long term - ahead of the crowd.
Top ranking UK based companies - like MKS - are a superb investment at the moment. Another one to look at is WTB - just finished their rights issue.

Its starting to turn positive.

It looks like yesterday was the low point and the market will start into recovery mode today.
Clearly Trump and his Republican cronies have done a bad job controlling corvid in some states but the impact is likely to be felt in increased mortality rather than economic damage.

It looks like yesterday was the low point and the market will start into recovery mode today.
Clearly Trump and his Republican cronies have done a bad job controlling corvid in some states but the impact is likely to be felt in increased mortality rather than economic damage.

It looks like yesterday was the low point and the market will start into recovery mode today.
Clearly Trump and his Republican cronies have done a bad job controlling corvid in some states but the impact is likely to be felt in increased mortality rather than economic damage.

Disciple
I invested today - maybe a little soon - when the market turns green the timing could be perfect.
FTSE100 companies that have been badly hit by coronavirus and have already taken action, from a position of strength, to raise equity have to be a good investment for the future.

The STS is still underway with NO and the tanker Front Ull.

Front Ull is another super tanker - she already had crude on board when she arrived at Scapa Flo - so the Kraken load looks like it will fill her - her destination is as expected - Singapore.

Not sure when this will bounce - still heading down at the moment - but when it does, there is a golden opportunity for a long term investment here.