Member Info for DiveCentre

And the time before that.

Rem Trader has just left Aberdeen with some deck cargo.

dspp has previously posted his record of offloads and flow rates on lemonfool.
I have been keeping my own record which is broadly similar but with some variation. Some may have looked in on his post on LF but for those who haven’t, and for comparison this is my record:

1st offload Amundsen Spirit 7.00am 17.06.19 - 6.00am 18.06.19
47,389 metric tonnes 357,053.65 Barrels
2nd offload Petroatlantic completed 11.00am 21.07.19
56,000 metric tonnes 421,933.46 Barrels
Period 33.208 days FR 12,706 bopd
3rd offload Amundsen Spirit 11.45am 17.08.19 - 10.00am 18.08.19
60,595.17 metric tonnes 456,555.88 Barrels
Period 27.958 days FR 16,330 bopd
4th offload Navion Oceania 01.54pm 16.09.19 - 05.13pm 17.09.19
364,457.1 Barrels
Period 30.3 days FR 12,028 bopd
5th offload Navion Oceania 09.09am 12.10.19 - 09.21am 13.10.19
59,000 metric tonnes 444,537.03 Barrels
Period 25.7 days FR 17,297 bopd

SG calculated for 38API is 0.8348 which produces a factor of 7.5345261 for the conversion of metric tonnes to Barrels. There will be errors due to temperature variation but we have no information to enable this to be accounted for.
The periods, lift to lift are taken from the tanker departure time i.e. the last AIS signal before the tanker moves off station.
All loads except the 4th are calculated using the tonnage amounts reported by Amaja. The 4th load is 1.6m Barrels being the total production reported by HUR less the sum of the three previous loads. As 1.6 is no doubt a rounded figure the actual load is very likely to have been more. The 5th load was reported by Amaja as 58 – 60k and, not surprisingly I have taken the median of 59k. It indicates an exceptional flow rate of over 17k bopd for the period and well above HUR’s guidance of 45% (9k bopd) for Q3 as advised in the 02/09 RNS.
What is clear is that the wells are producing at rates far in excess what was expected when the original guidance was published. There will be production limitations through this quarter whilst upgrades for the Lincoln tie in are carried out but once they are, and the data gathering period draws to a close the revised 20k guidance may turn out to be conservative.

EV
There’s no sarcasm and no G&T’s
You are doing your best to rubbish Spirit.
Answer the question:
Will Spirit fail to meet their commitment to the farmin deal and if so when.

EV

When do do expect the Spirit deal to fall apart.

Can you predict this with the same accuracy as the next offload.

slipanchor

If you zoom in close enough you will she is maintaining a heading of around 210 degrees which is into wind.
Wind 33 knots and waves 4 m

feelinlucky

you will have to copy and paste it in the URL

feelinlucky
https://www.google.co.uk/maps/@57.1422539,-2.0719315,3a,75y,304.9h,91.33t/data=!3m6!1e1!3m4!1s_namV6gRp5zvFc5YghrYhA!2e0!7i13312!8i6656?hl=en

Empty Vessel

Last Saturday you posted:

"The current financial situation of Spirit may have an impact on future drills, this company will be going through major restructuring in the short to medium term, its ok too say the deal is done, but is it...."

today you say:

“there are serious cash flow issues there....time will tell....”

Again casting doubt on Spirits financial position

In Centrica’s results Spirit Energy is referred to as a robust, self-financing entity.

Can you support with evidence your contention that Spirit is in such financial difficulties it puts in doubt their ability to fund their commitment to the deal with HUR .

daltry

ol1369 posted on advfn this morning (4120)
“Again nice price action today. Please keep in mind that HUR management did a (non-deal) roadshow with Berenberg yesterday. Strength in the coming days might be a sign of institutional buying. “

If true it may explain todays rise and given there are no other obvious drivers it probably is.

SOB

so you think we are round the bend

MarktheSpark

I have given you a tick up as your comment reflects my own view.
Is there a change in the perception of FB risk?

I'm obviously getting slow in my dotage.

Jiffy Bag
https://gallery.mailchimp.com/110d0aa5f5d9bf9478796664e/files/420bc2bd-8289-4cd3-99f4-becb4e15587c/Hurricane_Energy_Note_2019.09.20_003_002_.pdf?utm_source=H%26P+Master+Contact+List+%28Sements+and+Tags%29&utm_campaign=69b4eed3bf-EMAIL_CAMPAIGN_2019_07_02_10_23_COPY_01&utm_medium=email&utm_term=0_dd4f91613c-69b4eed3bf-98981107

Bloobird
The previous offload was a blinder. Probably good for and extra $4m over current price.

many thanks Amaja

440 - 450 k

Londoner7

The 1.6 figure has probably been rounded down so its quite possible the load was actually + 10/20/30k.

It is however all we have to go on.

Londoner7
Using the 1.6 figure to calculate the 4th offload I get 372k
1st 350k
2nd 422k
3rd 456k

JK
Yes is does raise a question over the guidance. I really do not believe that HUR have gone all out for production over data gathering so there must be some rational explanation. It may be that the original guidance was based on flowing the wells alternately and they did not anticipate the higher than expected flow rates. There is also that term "facilities uptime" which has perhaps been better than expected.

If, as we are led to believe the load is going to Rotterdam I am confident "our man" will do the business.

EV

I was very sceptical but credit where credits due.

Amaja I await your report with interest