Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
More good news for us, Ithaca and the exchequer.
https://www.oedigital.com/news/504435-shell-s-north-sea-field-restarts-production-after-major-fpso-upgrades
Figures for January are out.
Net gas production to Kistos comes in at 7,914 boepd plus another 226 bpd of oil from GLA.
January was presumably impacted by the workovers at Q10-A and I expect February and March will be affected too.
Q10-A Gross production 28.711.542Nm3 or 5600 boepd.
Net to Kistos (60%) =3360 boepd
GLA Gross production 22,771 boepd.
Net to Kistos (20%) =4554 boepd + 226 bpd of oil.
AIM Rule 19 requires that audited accounts are prepared within six months of the year end.
So, we have until the end of June to report.
The longer it takes the more optimistic I will become.
A delay would lead me to believe thar the company is working on an acquisition of assets that they would like to announce alongside the results for maximum impact.
Just my opinion fwiw
No worries infor,
My 5p would be on tailwind too.
I'll put it ti mitch at next week's investor meet company.
Any ideas what this paragraph relates to?
"Following the 2022 year end the Directors became aware that a filing in respect of certain dividends paid in 2022 had not been made as required under the Companies Act. Accordingly a resolution will be proposed at this year's AGM to resolve this."
infor,
Div paid 27th of July
Ex div date 29th June
elbaroney,
The 10th is a Bank holiday
Very odd.
Surely the title should have been something like "Buyback programme update"
Ex Div day tomorrow If I am not mistaken?
I jumped back in on Monday as it seems that the banking jitters have been calmed.
The Jet2 shareprice held up incredibly well, as we prepare to enter the holiday season I expect Jet2 to ontinue the upward trajectory of the previous 6 months.
There was a very positive article in This is MONEY yesterday , Steve Heapy is confident that the rewards for their hard work are just around the corner.
https://www.thisismoney.co.uk/money/markets/article-11919275/Jet2-boss-Steve-Heapy-bold-pandemic-steps-helped-group-Britains-biggest-tour-operator.html
Boyobach,
I enjoy reading your analysis, it is always fair and usually you call it correctly.
Many thanks for taking the time to share your thoughts.
The website looks to have had a revamp following the acquisition of the tailwind assets.
Looks much brighter than the previous incarnation.
The Board and Senior Management look to have had new photos taken.
The 'old' Serica management, with all due respect, now looks relatively old in comparison to the Tailwind and Mercuria management.
How long before Steve Edwards is CEO & Jacques Tohme CFO?
Robert Lawson/Guillame Vermesch Non Executive Chair?
The acquisition/merger is done, despite my objections, and I admire what they have achieved for Tailwind and Mercuria.
I'm still sat on the sidelines watching but feel that the best chance for growth is now in the hands of the Tailwind/Mercuria management.
With an 18 month lock in, that might present opportunities for those wanting out to do so at a profit.
No floor price in today's 'Powering up Britain' announcement.... I despair.
OEUK Chief exec David Whitehouse said that the North sea's future hangs in the balance.
Well worth reading his response.
https://www.ogv.energy/news-item/north-sea-s-future-hangs-in-the-balance-as-government-offers-no-relief-on-windfall-taxes-says-offshore-energies-uk
I hope you are right Autofund but I am not so confident.
There is a huge number of people, particularly in the so called red wall seats, who will switch to labour.
The pausing of the extension of HS2 from Birmingham to Manchester is symbolic of the feeling that 'levelling up' was merely a slogan.
If the Conservatives lose the red wall they will lose the election imho.
BRV,
Yes, the figures on the dutch portal are gross, thanks for the net production figures.
I have just listened to Rachel Reeves on Radio 4.
She said that if labour was in power today they would freeze council tax. They would pay for this by increasing the windfall tax on the oil and gas giants....
With idiots like this soon to be in charge the north sea is dead.
The latest production numbers on the dutch oil and gas portal are for January.
They are down a bit on December, but I suppose this could be due to the work programme being executed.
Looking at the last few months the trend is downwards.
January 2023 173,602 boepd.
December 2022 192,025 boepd.
November 2022 186,142 boepd .
October 2022 215,139 boepd.
September 2022 234,302 boepd.
My gut instinct is that AA does have something up his sleeve.
https://www.nlog.nl/en
Hopefully he now understands that a smaller percentage of something is better than a larger percentage of nothing.
In my opinion the floor on gas should be set at around 90p per therm and brent at around $90.
The worrying thing about a labour government is that they would actually cut of their nose to spite their face...
I have jumped back in this morning,
$74 Brent and 2175 Shell seems too low for me.
Morgan Stanley forecast Brent at the back end of 2023 at $90-$100, pre banking jitters of course but I am taking a gamble that interventions in the banking sector will be swift and decisive.
I think Shell will follow BP by paring back plans to reduce oil and gas production in a bid to bring US investors back on board.
If we do we can begin to close the valuation gap between us and Chevron and ExxonMobil.
When asked about Shell’s commitment to reducing oil output, Wael Sawan said the “longevity” of the group’s upstream oil and gas business was “a core part of our focus
A revised offtake and marketing agreement?
Is it on better or worse terms than the one already in place?
Will we ever find out?
On a positive note, the net debt is down £62m from announcement of the deal to completion.
Net debt on 30th of November was £277m.
Net debt on completion £215m
Watching.
This report from Goehring and Rozencwajg discusses shale production and hubbert's peak. It argues that shale production at Bakken and Eagle Ford is entering the decline phase of the curve.
Well worth a read IMO
https://4043042.fs1.hubspotusercontent-na1.net/hubfs/4043042/Content%20Offers/2022.Q4%20Commentary/2022.Q4%20GR%20Market%20Commentary.pdf
Full year results tomorrow