HUR conference call 28 Mar 19 transcript30 Oct 2019 19:46
Hi all,
With hat tip to Carcosa in another place, here's a recently released transcript of a post-results 2018 presentation to analysts
https://malaysia.news.yahoo.com/edited-transcript-hur-l-earnings-124957404.html
some helpful comments and 'background snippets' regarding monetisation, M&A activity, other companies not drilling as they await HUR core data and a suggestion that they do not expect any corporate approaches until 2021/22.
Also , some clarification from Stobie re gas export solution timeline/issues :
…"So thankfully, when the WOSPS -- when they built WOSPS, they acknowledged the future of Hurricane and kindly put the plan directly on our Whirlwind acreage. I think the plan being the tie-in point, and so there are -- there is both a north and a south tie-in for us. I think it's -- 11 kilometers is the underwater crow flies from the Aoka Mizu.
In terms of CapEx, other than we're still obviously trying to work up both profiles and what's available, but it's a remarkably simplistic downpipe from the Aoka Mizu to the -- to a tie-in. We obviously, as a standard, then provide a -- when you take up a tie-in point, you have to provide another one. But it's very definitely contained within the $787 million of CapEx.
In respect of long leads, we are -- it is -- they are not on the critical path. Some of the valves that we're working through with BP's technical authorities will be ordered in the second half of the year. But down gas pipeline is a relatively standard process that will be ordered at FID. But in terms of direct -- exact CapEx for the specific time, it doesn't spring off the top of my head because really, I think, the core to it is the re -- reconfiguring of the gas compression system on the Aoka Mizu is really the core item. And that will start as soon as the commissioning beds are freed up at first oil...."
HTH and ATB
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