Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
Carlos looks busy: https://www.reuters.com/business/energy/mexicos-pemex-hand-over-natural-gas-project-business-magnate-el-heraldo-2024-04-18/
Talos Energy to sell carbon capture unit to TotalEnergies for $148 mln
https://www.reuters.com/business/energy/talos-energy-sell-carbon-capture-unit-totalenergies-148-mln-2024-03-18/
NSS, I don't think anyone can really "give" you some numbers without making a couple of big assumptions.
I believe this time it will be different because whoever is in the EIG/Noble/GIC/ARCM group of investors have already sold all the HBR shares they want to. While it may be tempting for BASF to sell their shares to honour their green credentials, all their scope 1 & 2 emissions will already be transferred when they assume the shares so why not keep it and enjoy a good dividend with low risk?
Also, they would be wiser not to if they actually study the case of EON's divestment of their Uniper assets (before the Nord Stream saga).
For those unaware, EON in pursuit of their green agenda spun off all their "dirty" coal/gas/nuclear power plant units, shares of their Russian gas fields & pipelines to Uniper back in 2016. EON paid the consultants/bankers with the money they earned from the sale of their oil & gas unit which ironically became part of HBR (UK side) and Wintershall DEA (Norwegian side). Upon the listing of Uniper in Frankfurt, Uniper share price increased by 150% in around a year & even close to 300% when the Ukrainian war started.
The world is still hungry for oil & gas & I think with the the new HBR, cashflow generated will be immense and will open up more options like the giant gas fields that is currently owned by Kosmos.
Wft extension probably brought forward alot of the cop dates. once you kill the main hubs the smaller satellite fields will have to go... Tories & Labour + the BBC still talk about the shell/BP global profits and have no idea how small their operations are on the UK. they probably thought HBR has more operations in port activities than oil...
Also note one off G&A provision of 453M for closure of kassel/hamburg hq & 260M currency devaluation costs factored into this results.
although it was noted that the Russian business costs were taken out, the methodology is not clear to me and potentially there could be some additional conservatism attached there so this is not a true picture of the WD portfolio that HBR will obtain.
what is clear is that WD management priority is for a clean exit for BASF and this will aid in the deal approval and finalisation with HBR
This is quite extreme thinking for Labour not to allow for any decommissioning tax offsets. Has it been said anywhere in their proposals?
They do realise the cost of decommissioning will fallback to taxpayers if the company goes insolvent, right?
Https://www.upstreamonline.com/finance/m-a-in-the-spotlight-which-of-the-top-quality-oil-and-gas-independents-is-next-/2-1-1579667
more to come?
Harbour 'not finished' with M&A
The acquisition of Wintershall is "straight down the fairway of the strategy we've been following since Harbour’s inception in 2014", Harbour chief executive Linda Cook said on 22 December.
Cook was asked if the Wintershall deal meant the company was finished with M&A.
"I make the comment that completing this one is our number one priority. But I think what I feel good about is that we'll have the option and we'll be ready and prepared should the right opportunity present itself from a financial standpoint, even after completing this large transaction."
She said that Harbour has recently had the opportunity to engage on at least two or three separate deals of a different nature to Wintershall Dea.