Member Info for kign

70% tax is a very clear message oil and gas investment is not welcomed in this country. HBR should just cut back production so they make minimal profit until 2028, cancel Talbot & tolmount east development, accelerate Timpan/tuna development.

A way Rishi could make the WT acceptable to everyone is to extend the capex claw back to the carbon capture projects like Viking CCS. this way you will still decarbonise the UK especially the heavy industries near Teesside/Humberside and encourage oil and gas to invest in green/blue projects. this will play into harbour's strengths.

Shell/BP should show how much profit they actually make in the UK (I suspect less than 5% of ), raising WT will have no impact on them.

HBR is very good at turning sane people super negative :)

Value investor trap!

So much potential but poor management.

Oil, IAG has 13B of liabilities due within the coming year! and another 20B thereafter. current receivables only total around 8-9B. Get out while you can!

WT on subsidised wind/solar on contracts that's gas price dependent...

https://www.thetimes.co.uk/article/ithacas-odyssey-is-set-to-bring-it-to-the-stock-market-and-the-ftse-100-29svjtztl

Times article suggesting Ithaca with ~40% of HBR's production and 2P reserves is worth $6B. If we apply this to HBR this would translate to an equivalent share price of 1546p!

enquest looks better to me, although it would mean even more North sea production

I hope so too Rookie, running out of cash to buy more.. I'm defeated

noreco? these guys went bankrupt once and they used to be partners in the Huntington field.... insurers still looking to recover their money, I think best to start away, leave it to Waldorf

sadly it looks like no one is buying. HBR needs to do another round of buyback

Enven is also EIG-backed! Probably some pressure there from EIG to complete that deal but thank god for Talos!

Very pricey but probably market price now. Shows how undervalued UK-based oilers are!

valuations for o&g is still super low, I say we go for ENQ.

CNE besides the cash looks crappy with limited upside for the tight Egyptian gas.

it's in line with HBR's portfolio in Indonesia/Malaysia and UK/Norway + Brazil. Repsol production in these regions would be around 142kboepd with 140mmboe 2p reserves. (25% of repsol)!

who made the most money?

banks, commodity trading houses and hedge funds

Rookie1, not saying we should listen to a finance guy for an engineering issue but this is what he says about CCS:

Carbon capture has a long history. Of failure.
https://ieefa.org/resources/carbon-capture-has-long-history-failure

Added more now the G7 price cap is only on Russian oil!

just to add H1 FCF is 1.4B with a realised gas price of 69p! EBITDA at 2B!

market cap even with the big rise is only £4.4B!

compare it with BP: H1 EBITDA $17.5B, Market Cap £87.3B

Even if demand drops, do you think prices will drop back to 40p/therm?

Even if war stops, will the sanctions be removed immediately and Nord Stream 2 starts immediately?

https://archive.ph/ajiMB

How governments and the cult of net zero wrecked the energy market

good article... and good suggestion: One scheme sketched out by Lambert Energy Advisory would see the EU and UK collectively co-ordinate utility companies to offer 15-year contracts for enough gas to replace Russian supply, using a dynamic pricing mechanism (that is, we obviously do not lock in 2022 prices for 15 years). The producers who fill the contracts can come from anywhere except hostile states. Do it right and just watch the investment taps – and then the gas taps – turn on at full flow again. And given the lower emissions of gas versus coal, the planet doesn’t even have to suffer.
The alternative is that we continue with a policy of self-sabotage on a truly industrial scale. Politicians can blather about windfall taxes and price freezes all they want. If they don’t repair the market, it is irrelevant. In the meantime, the demolition ball of a self-created gas crisis is swinging through Europe. Will any of our leaders act to stop it?