Member Info for MatrixObserver

Just having a nose around Falmouth...

Looks like it could be for refuelling MH for trip across Atlantic...

"Tanker Fuel Solutions for Global Fleets"

Cheers

MO

Good morning all

Minerva Helen has had her fill and reporting a 12.7m draught... = ~522k barrels of 14 API Kraken crude

Is also first ever UK destined Kraken load, is destined for Falmouth.

Good luck all

MO

Is starting to get a little too nitty-gritty for MO lol...

Which LIBOR rate applies, are so many.... anyway, brain starting to hurt...

Need AK to perform to FDP and strong Poo, then can pay Oz loan within 2-3 years, with AK 15% coming back to ENQ after.

Can see why some analysts/accountants say is complicated lol

Is clear to MO :-)

Think will hunt down some sci-fi and retire for evening...

Have good-un all

MO

Unsure Pelle...

TL rig was given back in Jan 18, used for approx 6 weeks @ $135k per day Jul/Aug 18...

Do remember JS (CFO) mentioning deferrals... All can see from interims in Sep was...

"Cash capital expenditure of the period amounted to $126 million. Kraken continues to be where the vast majority of our CapEx is focused. We continue to work from subsea production system as well as umbilicals, risers, and flowlines for DC4, approximately $25 million related to work in prior periods that settled in the first half."

and

"We're expecting 2018 cash CapEx to be around $250 million. And the majority of the cash CapEx of just over 50% will be spent on Kraken, which also includes the deferrals, with the remainder spent on wells in Malaysia and at Heather as well as license to operate CapEx."

Sure will all come out in the wash ;-}

MO

Cheers Pelle...

Is a much better rate than the $330k per day was paying in Jan 2018...

"The remaining scope of work under the contract comprises the workover of three wells at Alma and drilling and completion of four wells at Kraken. The remuneration to be paid to Transocean includes an operating rate of $135,000 per day payable by EnQuest Heather in respect of the Alma workovers and $160,000 per day in respect of Kraken drilling (together with a bonus-malus scheme based on rig performance)."

DC4 is now only 3 wells 2p/1i versus original 4.

Good posting Pelle, cheers

MO

I'm starting to wonder if the ADVFN poster is on about the TL Cairn/Azinor drill that's had a few probs and is still drilling... Will finish approx 5-6 weeks behind schedule and cost quite a bit more than planned, so hope it's successful.

Cannot think of any ENQ drilling in last month, probably last six weeks...

--

O/T - Whilst considering subterfuge... Anyone remember the Afren debacle, recent news may not financially compensate investors who were defrauded, but have got some justice at last, with directors jailed this week for 5 and 6 years.

Good luck all

MO

Hey L3

Alma was well workovers, not drilling in such, was $30m OpEx (not CapEx) for 3 x ESP replacements (TL left 19-Aug).

Sure will find out if any issues at end of Nov but think ADVFN poster should at least give a clue... Think DD dealt with... LOL

MO

Good evening E121

Think can thank Iraq for latest dip... "Iraq oil minister says crude price ‘fair’, aims to hike output capacity"

https://www.brecorder.com/2018/10/31/449941/iraq-oil-minister-says-crude-price-fair-aims-to-hike-output-capacity/

Plus have rise of ISIL in Eastern Syria/North West Iraq again, not sure if will affect production, but adds to smoke and mirrors...

Best wishes, hope ENQ listened to you and super hedged well in the $80's

MO

Hey Squif

Did see that message... Have taken with pinch of salt, didn't even mention which drill, is attempt to scare probably ??

As far as aware no drilling is currently occurring... Have workover tubing/drill ship at West Don to work-on shut-in well...

Go through list of rigged platforms and planned drills... Is possibly well abandonments taking place also...

- Kraken, no drilling until TL comes
- Magnus, summer drilling completed, did mention completing new zones of north drill, maybe some other well-work
- Heather, 1 well in H1, not aware of any current drilling
- Thistle, not aware of any current drilling
- Malaysia, all planned wells finished

Have not observed much activity to arouse any concerns or suspicions, but who knows...

Cheers, MO

LOL johnpwh

Fortunately was a ghost of an earlier ship heading in other direction, phewww

Is another "feature" of AIS :-)

Should be in the Med around 7pm UK time...

MO

Just wanted to add, will need to drop off pilot that's temporarily in charge of vessel for the transit of the canal, then full-steam ahead...

Nearly in the Med... Only 11nm left of Suez and currently running just over 8 knots...

Can see last leg in almost realtime AIS...

https://www.marinetraffic.com/en/ais/home/centerx:32.335/centery:31.132/zoom:12

Good luck all

MO

Quite bullish on refined...

3rd week running have nibbled crude SPR... 1.5m

MO

Looks like due to disparity in UK clocks going back versus US, EIA will be at 2:30pm today...

MO will be looking to see if for 3rd week running have been little (1.2m barrels) dipping into crude SPR.

Will see here...

http://ir.eia.gov/wpsr/overview.pdf

Good luck all

MO

Hey Pelle

Is around 7k gross based on #3, Bob Davenport (at interims) mentioned will be optimising, so will find out if can from #4.

Cheers

MO

MO's pleasure Pelle (sure is E121's also)

MO's still expecting a good boost post well tests, still clinging to FDP expectations... The south field should be pumping 40k on its own.

Have seen 24 day wait, following tanker was 10'ish days, also have seen 18 to 12 days, so 16.7 to 11 will do MO for #27 :-)

Is there somewhere...

MO

Just for you Squif...

Is only recorded since just before Alma workover commenced... Is ~27days since last offload departed... Hopefully an easier to calculate draught for #4, last one had Balder FPU oil on Stena Sirita also, maybe get one to ourselves next time...

Offload #1 (Stena Sirita) - Started: 22/7 @ 06:30 - Finished: 22/7 @ 23:00 (Duration 16.5hrs) - Draught change: complex - Estimated Offload: 300k barrels

32.5 Offload #2 (SIRI KNUTSEN) - Started: 24/8 @ 11:00 - Finished: 25/8 @ 09:00 (Duration 22hrs) - Draught change: 2.5m - Estimated Offload: 200k barrels

40.1 Offload #3 (Stena Sirita) - Started: 4/10 @ 12:00 - Finished: 4/10 @ 23:00 (Duration 12hrs *Est Poor AIS) - Draught change: complex - Estimated Offload: 300k barrels

Cheers

MO

Good day fellow ENQers

Below are MO's AK stats since H2 (we already know July OGA, Aug data soon - estimates are best guess)... Remember, since last month or so AK has been self-fuelling (previously used ~1500 barrels of diesel per week, not verified), would be interesting to know fuel consumption figures now, just to fill gaps in data... Anyway...

14.1 Offload #19 (Navion Oceania ) - Started: 10/7 10:00, left 11/7 12:00 (26 hours) - Draught change: 2.6m - Estimated Offload: 413k-536k barrels STS SEAWAYS YOSEMITE 523k
14.2 Offload #20 (Navion Hispania) - Started: 25/7 17:00, left 27/7 09:30 (Duration: 40.5 hours) - Draught change: 2.6m - Estimated Offload: 358k-552k barrels STS STRIDE 577k
18.3 Offload #21 (Navion Oceania) - Started: 14/8 18:30, left 15/8 18:30 (Duration: 24 hours) - Draught change: 3.2m - Estimated Offload: 395k-590k barrels STS @ 11.8m British Cormorant 468k
12.6 Offload #22 (Heather Knutsen) - Started: 28/8 08:30, left 29/8 10:30 (26 hours) - Draught change: 2.7m - Estimated Offload: 448k-577k barrels, STS @ 11.9m SEAROVER 527k
12.3 Offload #23 (Heather Knutsen) - Started: 10/9 18:30, left 11/9 20:30 (26 hours) - Draught change: 3.4m - Estimated Offload: 496k-625k barrels, STS @ 11.1m Speedway 590k (no ballast)
15.4 Offload #24 (Navion Hispania) - Started: 27/9 07:00, left 28/9 10:00 (Duration: 27 hours) - Draught change: 1.9m - Estimated Offload: 377k-506k barrels STS @ 11.4m Thornbury XX
13.1 Offload #25 (Amundsen Spirit) - Started: 11/10 12:00, left 12/10 15:30 (Duration: 27.5 hours) - Draught change: 3.4m - Estimated Offload: 525k barrels STS @ 11.9m Minerva Atlantica 529k
16.7 Offload #26 (Navion Hispania) - Started: 29/10 07:00, left 30/10 10:00 (Duration: 27 hours) - Draught change: 3m - Estimated Offload: 437k-560k barrels STS @ xxm Minerva Helen XX

Hope of some use/interest

MO

Good day L3

It's not ENQ's delay, it's the Cairn/Azinor drill that will end-up taking twice as long as planned, so is just a matter of starting DC4 5/6 weeks behind initial schedule. Also Hurricane/Total have got TL booked for late Q1 19, so will just be DC4 for us.

Will have slight reduction of CapEx (maybe $10-20m rig/ships etc), but this will be spent in H1... I cannot see the overall reduction being as large as you mention, as will still need to buy HSP x 2 and other well bits n bobs, plus have already spent for manifold, template installation, pipes, rock dump, plumbing etc in early H2.

Good luck all

MO

Soz dodgy data from graph was build 5.7m

MO