Don't have many people on ignore15 Apr 2025 14:43
But MD has made the list, he/she/they/them was doing some less annoying posting, but finally has to go, only here to wind people up now. Nothing of interest in posting FID???? Oil could head to $40 as Trump floods the market! ETC
29 posts today and the majority are sparing with MD, it's a shame really, but then there is nothing else to talk about at the moment.
For what it's worth, I cannot see Navitas worrying about the near term oil price. As someone pointed out, the sanctioning of Shenandoah was done with oil at around $60, which was near recent highs having come back from $25 a barrel in 2020. Even in the 5 years prior to that, from 2015 to 2020 the oil price was between $45 and $65 (flirting briefly higher and lower) so it is hardly going to cause Navitas to break a sweat. So when Shenandoah comes on steam, it will still be making big money for Navitas' bottom line which is more than can be said for shale which needs on average $60+ to break even and as we know Sea Lion is good at half that. Saudi needs something like $90+ and many more players somewhere in-between. So Navitas will be thinking of oil prices now for Shenandoah but also future brent prices in 3+ years and beyond, long after Trump is a distant memory/nightmare (delete as appropriate).
Maybe FID gets knocked back into Q3, but that might be good for us if OM takes another couple of moths to drop. Not saying it will drop, there is no sign at all, it could be tomorrow, it could be another year! But as night follows day, Beacon is cracking on with getting the FPS connected and pumping, a lot on activity not far from the Deepwater Atlas is going on so watch that space.
LTT
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