Member Info for January2

Thanks londoner7,
So not affecting our large producing assets, Kraken, Magnus or Malaysia !
So minimum affect on production.
So why does L3 write in a way that positions this as a "big deal". I just wonder ? If I was new on this site I could misunderstand this as having a major affect on production. Comments like that are not welcome unless you give the info with it L3. Otherwise you are in the same camp as those "shouting 11p next week". Production shut down in May and June ! Some may think you are talking about Kraken or Magnus.
I think we call this "Trying to make a Mountain out of a Mole hill".
My question is why ?

Pelle,
Its the oo and GE deal, holding us back. This happened before with the RO. Once its gone through we could more than double as we did before !

L3,
You mention maintenance shutdowns in May/June.
What Assets are you referring too ?

Chilting,
This can't happen quickly.
The most productive ducs are in operation now and with the current number of rigs depletion will slowly grind down US production numbers. They need another 150 + rigs to begin to turn things around. Even then it will take many months to get production near their old 13m bpd.
Maybe E121 could add something here, as he has done much research on the US situation.

Disagree, rigs were down one last week and p,us 2 today. As E121 pointed out sometime ago, they need to pile on much more than this to just maintain production at current levels, let alone increase it !
You are being misleading L3 Trader.

Only +2 for this week. No great march-up in the number of US rigs and POO is close to $70. This bodes well !
I was checking through the international "rig list" and even more interesting Saudi Arabi had 63 active rigs in Feb this year. Now in May they are down to 60 rigs. They have lost 3 rigs over the last 3 months !
Perhaps they are seeing a little depletion too !

What I wanted to do was see what the US total oil products supplied was prior to the pandemic. Then compare that to now. This would tell me if the US oil products supplied/used is back to pre-pandemic levels.
What I found was very interesting.
So from todays EIA report (up to 30/04/21)and I quote -
"Total products supplied over the last four-week period averaged 19.8 million barrels a day, up by
34.2% from the same period last year." The key number here is 19.8 m barrels supplied/used.

Now from the same week the year prior to pandemic EIA report (up to 26/04/19) and I quote -
"Total products supplied over the last four-week period averaged 20.2
million barrels per day, up by 0.5% from the same period last year." The key number is 20.2 m barrels supplied/used.

So the US is just 400k barrels per short of being back to pre-pandemic levels. As a percentage this works out that the US is actually running at 98% of pre-pandemic levels. I feel confident this gap will more than close during the coming driving season.
Indeed as the skies open and they get driving more they will need to supply even more. The problem is that their production has gone down from 13m bpd to under 11m bpd. - oopps ! They need to import even more oil ! And so likely will everyone else ! $100 pb anyone ?

I think our best hope is a positive agm and update and back to circa 25p.
We need and the market needs "Confirmation" that the GE deal is 100% going through. We possibly won't see a serious re-rate above 25p ish and torwards 40p or more until this deal is behind us.
However the plan was to complete the deal by October latest, from memory. Which means we should here some confirmation shortly of timescales !

"uncrossing trade" which was at 4.30pm and is 17.36p.
One minute later a trade went through "off book" at 18.15p which is why google got it wrong ! Google picked up the later trade at 18.15p which off book could have been made much earlier today (when the price was higher) but only reported after hours !
hope this helps - Take 17.36p as the closing price !

closing price 17.36 according to the London stock exchange website, just released.

I google ENQ share price, and the closing SP comes up 6 or 7 minutes after the close.
I wonder if it went into "auction" on the close, which would explain the 18.15p showing, otherwise a different closing figure will emerge shortly !

On google saying 18.15p ?????
Wtf

Yhyh,
You are right ! $100 will sort out everything !
It's coming I can feel it in my waters too !
POO always surprises, we could see it Q4 if there gets to be a panic over not enough supply !

Cheers Nick,
Great Post, Thanks.
"Operator says it may need to spend £350m over two years to repair cable damage caused by seabed rocks". Yes cables need to be renewed. Ahh That's why they call it Renewables ! ! !

Yes Banana,
And renewables have 100% market share of the Kids Toy market.
They are called "Batteries".
Recharchable, been around for years !
Why arewe arguing ? We all know that we have not hit peak oil yet. And when we do , none of us are likely to be invested in oil or posting here ! What a waste of time conversation Banana.

My post on red hydrogen was me making fun of hydrogen. It's my weird English sense of humour.
Yes renewables contribution in supplying the world's energy will increase over the years. However I think we will see a serious oil shortage before they can make any meaningful impact !
A recent article stated Russia is around peak oil now. US oil production is on the way down . Biden will not let it go back up again with his policies and direction. OPEC supposedly has some spare capacity, however they have not been spending the cash to support their oil Industry, so not sure they have much space at all ! When the World fully opens up after Coronavirus, Where is the Oil going to come from ? The World could easily need 100m bpd next year. We will NOT be able to supply this !

Maybe its Red Hydrogen for heating Mr.C.
Seems Hydrogen can be Blue, Green, Grey and Transparent. It makes sense if it was Red for heating. Nice cosy Red Hydrogen fire to warm your feet and hands with !

Tonight is 66.66
The devil's numbers !

Yes it was 18.15p at 4.38pm. Then it changed to 17.64p weird

Positive "tick up" at the close. Nice finish !