Member Info for flexmw

North Sea related :

https://www.energyvoice.com/oilandgas/north-sea/463759/shell-sale-north-sea/

Infor

Yes, first thing : Interactive Investor

Hi BB,

In short, you’re correct that the BKR deal was struck with BP, the transaction was completed over a 4 yr period, the deal was done on the full production ( what is our current production ) the circa 30k boepd you mention, the net amount received by Serica was 40% in year 1, 50% year 2, 60% in year 3 & 4.
The 1st of January 2022 was significant in that the deal had been completed & all BKR assets were 100% attributed to Serica, so this year has been a massive year in that respect.

There’s been a couple of payments to BP along the way but that’s pretty much it.

Obviously the Rhum field is shared 50% with the IOC, other fields pretty much 100% Serica..

I’m sure others can add to this..

Interim Dividend payment made this morning, that’s a milestone in its own…

Cheers Newkotb for keeping & posting the numbers, much appreciated.

First interim dividend payment tomorrow ;)

NBP day ahead has made a bit of a move, 152.667 per therm:

NBP All Day D.A NBP D.A. 25/11/2022 24-Nov 75,000 160.000 149.000 152.667

*internet targets.. hmmm = interesting targets! *

A couple of pieces from the Parkmead RNS this morning, worth a read, they have some internet targets/reserves… but Skerryvore related :

· Parkmead increased its stake in the high-impact Skerryvore project from 30% to 50%
· Planned well will target the main stacked exploration prospects, at Mey and Chalk level, which studies indicate could contain 157 million barrels of oil equivalent (MMboe) in the P50, most likely case.

Parkmead has already commenced well planning work on the high-impact Skerryvore project in the UK.

Also :

New UK Energy Profits Levy has created a powerful investment incentive for major producers to invest in new UK North Sea developments, with an investment allowance of up to 91%

Interesting read, as in the 91 % relief on investments …. ;

https://www.energyvoice.com/oilandgas/north-sea/462214/ithaca-enquest-neptune-windfall-tax/

A quick read :

https://www.energyvoice.com/oilandgas/north-sea/461047/harbour-energy-boss-pleas-with-chancellor-over-windfall-tax/

https://www.energyvoice.com/oilandgas/north-sea/461047/harbour-energy-boss-pleas-with-chancellor-over-windfall-tax/

I hope MF & TCW have been vocal on this as well…

Blackrock holdings RNS, increased their position:

5.44% 14,857,084

Not the first time i’ve read this, this weekend… :

The UK Government is mulling an increase to the UK windfall tax to 35%, a 10% bump on its original rate, Energy Voice understands, in a move which executives said theatens billions of pounds of investment.

https://twitter.com/energyvoicenews/status/1591433641338585088?s=46&t=Tqd_Qcf1lXndbSb7Hi3h1A

Some one must be bored at xtr :

https://twitter.com/resourcesxtract/status/1591140728448901120?s=46&t=eHZlUvguFwRM7FWaN_2d-Q

Latest xtr tweet :

https://twitter.com/resourcesxtract/status/1591137427594547200?s=46&t=iDbzPhzZqgF_pe-GrAFmmw

Serica Energy shares have plenty of gas :

https://www.ii.co.uk/analysis-commentary/serica-energy-shares-have-plenty-gas-ii525911

NBP D.A. made a fair move, back up into the 100p’s per therm to 147p per therm..

NBP All Day D.A NBP D.A. 04/11/2022 03-Nov-22 575,000 180.000H 118.000L 147.548

A quick read:

https://www.energyvoice.com/oilandgas/north-sea/456907/tax-uncertainty-driving-investment-out-of-the-uk-oeuk-warns-hunt/

Yep, BBC started 6.30am prior to the results…

On BP :

On announcing its planned Share buy back …

The purpose of the Programme is to reduce the issued share capital of the Company towards distributing 60% of surplus cash flow[1] generated in 2022 as announced by the Company on 1 November 2022.

Now a policy of aiming to return/distribute 60% of surplus cash flow… I wouldn’t mind Serica actually having a policy which had a percentage figure…

This is a bit of a strange drop surely? More to it than WFT seeing as all others are off circa 1.5%.. N’Eigg…?

A good thread by Alex Stahel on NBP & TTF:

https://twitter.com/burggrabenh/status/1582877610622988288?s=46&t=yiMxRSXKMyQGM8z5H9YdmQ