Member Info for hitman1a

https://uk.reuters.com/article/us-usa-naturalgas-chesapeake-energy/us-natgas-glut-dims-outlook-for-big-producers-as-prices-head-to-25-year-low-idUKKBN1X92AN

Less drilling in US from hereon will help oil and gas prices in 2020/2021

I guess there are a few people who don’t know when they can go back to work , which I think is the cause of the rumours .

2020 : 68k to 75k Average annual guidance imv.

We also have natural declines to deal with. Buy why on earth they can't tweet something about current Kraken production is beyond me.

https://www.marinetraffic.com/en/ais/details/ships/shipid:373146/mmsi:311027700/imo:9438858/vessel:AMUNDSEN_SPIRIT

Amazing performance , if only Enquest could issue a net debt monthly forecast for the next 12 mths to bring back investors. Surely they already have it on excel.

I constantly remind myself that the payback on new Magnus wells is 5 mths (we should be starting soon ) and Kraken 14 months , so there will be much better cash flow coming our way to accelerate debt repayment in the future from Q2 2020. I know AB said every £ of debt repayment adds the same to equity, but some of our assets are really old and some new ones have been problematic , so the stock market couldn’t care less about the 2019 debt repayments.

Hi Mav , I think this SP range at least till Q1 2020. April is the earliest point at which Capex could decline and equity starts to accrue some benefit , Also it looks a bit iffy if AB buys all these shares a few weeks before some major positive event , but Q2 looks like a good point to start the real recovery that means something to us.

As you already know , Heather was already shut down for maintenance when the small fire occurred, But credit where its due , the SP isn’t performing as no money being allocated to equity at the moment, AB has already said the balance sheet still needs to be strengthen further so it’s a case delevering even more over 12 mths next year as well .

https://www.worldoil.com/news/2019/10/28/shale-s-doubters-getting-their-moment-as-revolution-falters

https://oilprice.com/Latest-Energy-News/World-News/A-Death-Sentence-For-Small-Oil-Gas-Drillers.html

Cashpoint closed till 2021, which will support prices.

https://www.msn.com/en-us/news/other/shale-bonds-the-new-way-oil-drillers-are-raising-capital/vi-AAJa1zU

US Shale Companies will do anything to raise capital to keep on drilling. Things are getting very tight for some.

Enquest need to really pay down debt to more reasonable levels. Less than $1b imv., but they still might be paying 6% to 8% like Shale operators, because that's the going rate for bonds.

I agree, the new drills revitalise the business.. we still have all the historic assets to manage and decommission at some point in time, but the CEO has already said they would like to strengthen the balance sheet and operate in the lower end of the net debt range of $1b to $1.5b.. so that will take more time ( say end of 2020) but means less interest payments and releases more funds for other things.. . still a long way to go to full recovery, but we should be higher than 18p, and might well improve in 2021.

Shale oil driller QEP sells it corporate jet , with $2.7m loss. Times are getting hard for them.

WTI would need to rise by $10/$15 to ease the pain for many Shale companies whose future business plans are running off Tier2 child wells.

You can just about see a long piece of metal attached to the base of the tank and linked to the frame. If this is the offending item, then I guess both sides need fixing, plus all other attachments along the whole structure need surveying too . On the whole given how much money has been sent, a couple of months of downtime shouldn't really affect us poor shareholders. Capital markets day will be interesting. Maybe it will be fixed by then. Only need remedial action..not brand new parts.

http://www.humidur.be/ProjectDetail.aspx?id=0a7f8883-5a00-4af9-8707-566c898a2238

30 year shelf life according to the datasheet. Used inside storage tanks etc. And capable of curing underwater.

I'd go with Bob and suggest remedial action will be taken and then production can restart. Just don't know when.

http://www.humidur.be/ProjectDetail.aspx?id=0a7f8883-5a00-4af9-8707-566c898a2238

Wonder when they will conclude the further investigations required and release the findings. How about Monday?

I found the comments very bullish for Brent for Q1 next year

https://www.hellenicshippingnews.com/why-the-imo-2020-marine-fuel-sulfur-limit-will-hurt-consumers/

Hi E121
Good to hear from you.. I'm thinking some of the DUC inventory (say 20%) can't be completed for fear of upsetting nearby Tier 1 wells. So not only have US shalers convinced their banks to lend on assets that can't generate income, but also the rate of decline on Tier 1 is accelerating. All good imv, and Brent looks good given Opec meeting in early Dec..

Looking for 19.10/19.22p tomorrow am..
GL.

If US shale is struggling to keep up with demand using Tier 1 wells, then it's hard to see how Tier 2 can help improve the total by any significant amount.. What doesn't make sense is that yesterday there were articles from Novak suggesting US oil production would plateau in a few years.. whereas a month ago, there was a comprehensive article suggesting US oil production has peaked already.. ie WTi price will now have to go up to encourage more investment and production.

As Enquest joined Opec+ yesterday, things are now improving and the Brent price is expected to rise to $65.

At the initiation meeting, it was suggested that Saudi could bid for Enquest, rather than purchase another London Hotel, and control the flow of Brent to a better degree. They could pay off the outstanding debt, and the annual interest savings would cover a large part of the purchase price, but an auditor said Saudi would also benefit from the extra $5/ barrel it produced on its 8m barrels of oil per day.. ie $40m/day . if Saudi investment authority paid 50p / share to Enquest shareholders, £800m, it would only take 25 days to cover the entire cost.. and the rest as they say is for the accountants to work out later on. Saudi needed more time to think about the bid price as it has it's own IPO to think about, but welcomed Enquest into the fold. Others at the meeting thought the bid price was too low and wanted more.

I think he was on a few hundred pounds profit from 18.75 to 18.25 and then £4k /p down to 17.25.

Think his automated system would have closed out by now at £150 profit. not bad.