Member Info for Neversellshell22

Off on Azura tomorrow for a couple of weeks. Last cruise we went on carnival went up 20% whilst we were away.

Fingers crossed for good results.....

To be honest except for a major global event we really should be invested in a great multi bagging share here.

Nothing to say in a decent time as it 7-8 years we cant get back to the same price as pre Covid £40 that will do nicely...

But with Trumpy, Russia, China, Isreal and everything else...who knows....

Good to hear we are having success. One are with huge potnetial we dont talk about much is Algeria where we are partners in the Reganne Nord project with 24%.

"Wintershall Dea sees significant opportunity in Algeria: as a stable energy supplier for the region, and for Europe, and as a key player in the energy transition. As the leading producer of natural gas in Africa, Algeria is a major energy exporter to Europe. In addition, Algeria has great potential for future energy production, including hydrogen, solar and wind power and carbon capture and storage. Wintershall Dea intends to grow and further develop its business in Algeria, and is working to identify potential new projects."

https://wintershalldea.com/en/newsroom/pi-23-35

https://wintershalldea.com/en/newsroom/pi-23-38

Just wondered who this Berenberg mob were who upgraded our forecast yesterday. Well for a start yhey have been around over 400 years so cant be to shabby.....

"Berenberg has one of Europe's largest equity research teams. A deep understanding of industries, companies and stock markets, detailed financial analysis and a thorough assessment of management expertise underpin our successful stock picking approach."

Net profit for the year increases by 57% to €170.1 million

Return on equity reaches 82.7%

Investment bank revenue rises up by 35% to €471.6 million

113 capital market transactions provide companies with €31.6 billion in capital

Good to see a broker seeing value in Harbour......

Any ideas why today is going so well?..

Seems to be Carnival specific?..

Im with you Kign. I thought I heard Alexander say something along the lines of "minimising current shareholder dilution" ...but I cant bloomin find it now...

Maybe just going mad.....

Just a question for discussion really does anybody think our holding and therefore value will be diluted post merger ?

Good find Ducati, still urks me that IR don't tell us anything but I guess we are one of the big boys so they don't bother.

Oil doing a decent job.....Come on gas join the party.....

“ Successful syndication of the proposed $3 billion RCF and $1.5 billion bridge facility with strong support from both existing relationship banks and new banks resulting in oversubscription for both facilities”……..

Top up now or will she fall when US markets open...??

Who can tell....

Could be numerous reasons I guess Nitro. Could even be on behalf of Slim, who knows.

The bit of the WFT which is really unfair ( apart from all of it) is those companies who don’t have a CCS plan like we do.

I think Harbours North Sea journey will be pretty clear, drill/ develop like hell this year whilst the development incentives is favourable then wind down the clock in the North Sea as we transition to other worldwide assets…

Can’t wait to get our teeth into Argentina, Norway, Mexico, Egypt, Algeria etc etc etc..

Yes we seem to have some stability and will hopefully have a decent day today leading up to our news.

Oil and Gas all up again which can’t be back.

Regarding Wintershall I think no news is good news as we quietly go about their tie up.

Be great to get some confirmation of Andanan tomorrow or soon.

Aasta Hansteen (24% working interest)

The Aasta Hansteen field has been producing gas since December 2018. The produced gas is transported from the subsea templates to a floating platform with a vertical cylindrical hull moored to the seabed (known as a “spar platform”). The field has delivered strong production with high production efficiency. The nearby Irpa subsea tie­back project (19% working interest) will be connected to Aasta Hansteen and is expected to prolong the lifetime of the Aasta Hansteen platform from 2032 to 2039.

Edvard Grieg (15% working interest)

Edvard Grieg is an oil field located in the central North Sea which started production in 2015. The field is developed through a fixed steel jacket installation with a full process­ ing facility and is the first low­carbon oil field certified by Intertek under the “CarbonClear” certification. The field has received electric power from shore since December 2022, further reducing emissions and making the field one of the lowest CO2 emitters on the Norwegian shelf.

After the successful start­up of the tie­in field Solveig (Phase 1) in 2021, the tie­in of Phase 2, which includes segments D and A, has progressed further and received approval for development and operations by the MPE in Q2 2023. Further infill wells are being matured in the Edvard Grieg area.

Snorre Unit (9% working interest)

The Snorre field was discovered in the northern part of the North Sea in 1979 and consists of Snorre A and B. In 2018, after decades of safe and reliable production, the field received consent to extend the lifetime of the facilities until 2040. In the same year, the Snorre Expansion Project (SEP), comprising six additional subsea templates, was approved and came into production with the first wells in late 2020. During 2021 and 2022, a total of 24 additional wells were brought on stream and completed the SEP development activities successfully. Additionally, the Hywind Tampen offshore floating wind project started operations and began supplying electricity to the Gullfaks field in November 2022. Snorre started receiving power from the offshore wind turbines in May 2023 as planned. The contribution of power from offshore wind is expected to reduce Snorre’s CO2 emissions by about 120,000 tonnes per year

Njord (50% working interest)

The Njord Future project is a major re­development project that aims to add a further 20 years of production from the field. The field was shut in from 2016 to 2022 for extensive onshore upgrades and consists of Njord A, a floating inte­ grated semi­submersible production and drilling platform, and Njord B, a floating oil storage vessel (FSU). Njord re­started production in late 2022. Njord Future comprises ten new wells, which are expected to be drilled in the period of 2023 to 2026. Njord is the host for three tie­in fields: Hyme, Bauge and Fenja, which started production in April 2023. Wintershall Dea holds equity in both Hyme and Bauge. The partners of Njord and the third­party fields have sanctioned a project to provide power from shore to partly electrify the facilities starting in 2027. The re­ spective plan for development was submitted to the authorities in December 2022 and approved in December 2023. The operator expects to cut production related

CO2 emissions by about 130,000 tonnes per year.

WINTERSHALL DEA ANNUAL REPORT 2023

ABOUT THIS REPORT

CHIEF EXECUTIVE LETTER

REPORT OF THE SUPERVISORY BOARD OUR FOUNDATION

Skarv (28% working interest)

The Skarv area comprises several gas and oil reservoirs, including the Skarv, Idun, Ærfugl and Gråsel deposits, located in the Norwegian Sea. Production started in Decem­ ber 2012 via a purpose­built floating production storage facility and offloading unit (FPSO). Since start­up, several additional fields have been tied­in to enhance production. Further infill wells are being matured in the Skarv area.

In 2022, additional investment decisions were taken for two subsea tie­back projects to the Skarv field, Idun Nord (40% working interest) and Alve Nord (20% working interest). Both projects have received approvals for the plans of development and operations (PDO) by the MPE

in the second quarter of 2023.

Gjøa (28% working interest)

Gjøa is a gas and oil field located in the North Sea that began production in 2010. The Gjøa facility is mainly supplied with power from shore and therefore generates low emissions and has a small CO2 footprint. Gjøa serves

as a production hub for other fields as well, like our own­ operated Vega and Nova fields. Additional tie­in prospects are being drilled in the vicinity of the Gjøa installation, which potentially will prolong field life for Gjøa and existing tie­ins.

Dvalin (55% working interest)

Dvalin is an own­operated gas field in the central part of the Norwegian Sea, which consists of a subsea installation with one template and four producers. The gas is processed at the Heidrun platform and exported to Nyhamna via the Polarled pipeline. Mercury removal units have been installed at the onshore processing plants Nyhamna and Tjeldber­ godden to ensure that the gas from the field meets require­ ments from buyers in Europe. Production at Dvalin started in July 2023, providing significant new gas volumes to the European market. The nearby Dvalin North field, which is currently in development and expected to start up in late 2026, will be tied in to Dvalin, which is expected to produce until the late 2030s

Maria (50% working interest)

Maria is an own­operated oil and gas field, located in the Norwegian Sea, which started production in 2017 from two subsea templates. The well stream is processed at the Kristin platform with injection water from Heidrun and gas lift from Åsgard B/Tyrihans. Additional wells are planned to further develop the undrained resources in the southern part of the Maria field. As a result, we received the requested authorisation to proceed with the Maria Phase 2 project from the Norwegian authorities in the second quarter of 2023. Phase 2 is expected to commence produc­ tion in 2025. The Maria field is expected to produce until 2040.

Vega (57% working interest)

Vega is an own­operated gas and condensate field located in the northern part of the North Sea, 28 kilometres west of the Gjøa facility. The production from six wells, which started in 2010, is transported to and processed at Gjøa.

In order to increase production and recovery from the field, we finalised a three­well infill campaign in 2022 that contributed valuable low­carbon barrels. Vega is expected to produce beyond 2030.

Nova (39% working interest)

Nova is our own­operated oil and gas field in the northern part of the North Sea, close to the Gjøa field. The project consists of two four­slot subsea templates tied back to the Gjøa host platform, wherefrom Nova is provided with power from shore. In late July 2022, Nova came on stream to help support Europe’s energy needs

What happened at the end of 2021 ???

642 2019

623 2020

634 2021

321 2022

323 2023

Its interesting that Wintershall merged with Dea in May 2019.

The aim was production of 800,000 BOPD equivalent by 2023...

What went wrong???

CFO Statement....

Today, we announced our Q4 and Full Year 2023 results. It was a demanding year for @Wintershall Dea, but we continued to deliver a strong operational performance with daily production of 323,000 barrels of oil equivalent (boe). Our major projects, Nova, Njord and Dvalin in Norway are now all onstream and will continue to ramp-up during 2024, and we expect the Fénix project in Argentina to come on-stream ahead of schedule in Q4 this year.

Against a back-drop of significantly softer commodity prices, we generated EBITDAX of €4.2 billion and our adjusted net income was €513 million. Most importantly, our balance sheet remained strong. Having distributed a €400 million dividend and having repaid €900 million on matured senior notes, we ended the year with a cash position of €1.2 billion, and leverage of 0.6x - well below our target leverage.

Not only did we deliver significant milestones for our E&P business, but also our carbon management and hydrogen activities are gaining momentum: We have built a strong diverse portfolio of five offshore CO2 storage opportunities in Norway, Denmark and the UK – with a combined annual storage capacity of over 15 million tonnes of CO2 (Wintershall Dea share). To put that in to perspective, that’s equivalent to around 12 per cent of the total emissions generated in Germany today.

Of course, the year ended with the announcement of the sale of our E&P and CCS business to Harbour Energy. We expect the closing to take place around the 4th quarter of this year and the teams are busy in ensuring both business continuity until closing of the transaction, and preparing for a successful handover of a great set of assets, a pristine balance sheet and most importantly a world class set of motivated people later this year. Thanks to the whole team @Wintershall Dea !

Learn more about our projects and milestones in our Annual Report 2023 👉

https://lnkd.in/erwwPV53

Webcast......

https://wintershalldea.com/sites/default/files/media/videos/wintershall240222sc_0.mp4

Full Transcript....

https://wintershalldea.com/sites/default/files/media/files/Wintershall%20Dea%20Q4%20and%20FY%202023%20Earnings%20Call%20Transcript.pdf

Cant remember if we have seen this before.....

https://wintershalldea.com/sites/default/files/media/files/Wintershall%20Dea%20FY%202023%20Results%20Presentation.pdf