RE: Uk gas supply24 Aug 2022 15:52
A revision to my calcs for 2022:
OIL
18.8 mmboe hedged in 2022 of oil at $61.15. Say oil production is 100 kboepd, this equates to 36.5
mmboe which is 1/2 of the oil is hedged.
Meaning 18,000,000 x say $100 x0.82 = £1.48bn unhedged
and 18,000,000x $61.15 x0.82 = £0.9bn hedged
GAS
Only 25.37 mmboe hedged in 2022 hedged at 50.75p. If gas production is half of 200 kboepd equivalent
this equates to 36500 kboe = 36.5 mmboe. So 2/3rds of the gas is hedged.
Meaning 58 × 12,000,000 x say 250p = £1.74bn unhedged during 2022
and. 58 x24,000,000 x50.75p = £.71bn hedged during 2022
Total revenue oil and gas for 2022 could be £4.83bn or increase of 33%! That was then but now:
Production with Tolmount and Gas prices as they are could increase this figure by as much as 15% or £5.56bn during 2022
To reflect this SP (once debt free) should increase to 625p - I can't wait for tomorrow's report!