Member Info for pappalazz

I stand corrected!
Shell's Turritella FPSO is turret mounted at 2,900 m of water.
Embarrassed now as Shell was the oil major I worked for hahaha!
Good to learn new things!

BrynJon
It may well be possible to have FPSO, but the size and length of chains to keep it in position against Cat 5 storms at that depth, not so sure about..
I guess where there is a will there is a way..

Firstly - I am invested here.

I am curious to wonder the viability of the location. It's in very deep water, too deep for a traditional platform, too deep for FPSO that is moored via a turret system. The only way is DP rig. This is the most expensive and high risk and not as far as I know a permenant solution.. It's some 90 miles from Bahamas main land also. I get this is a test drill but there is PLENTY of oil on land around the world, just seems odd to choose +500m depth of water. It will be a very expensive source of oil comparably..

Don't even know how they would go about constructing a well head at such a location.

All the assets I would imagine would have to be submerged on the sea floor?

Anyone know what sort of oil they are expecting? Obviously high Sulphur crude is not as appealing as say Arabian crude due to the extent of the refinery processes involved..

Don't bite my head off, just some questions that have been on my mind having worked for an oil major and also dabbled in the off shore industry..

Great result for all the LTH's, I'm almost breaking even! This is long overdue!
Long may it continue!

BrynJon
Good point about the support vessels staying in port. But they should be making frequent visits with mud, fuel, acids and probably water as I doubt drill ship is running her RO plant whilst drilling. Maybe they can get water from evaps if there is enough load.
Haven't worked directly on a drill ship before but have worked on well stimulation vessels in Manifa.

Slavabahamas - Agreed!
I was going to comment on that but couldn't be arsed! It's the owners or operators / management company. Choppers are regular visitors for crew changes and essential stores that can't wait for the support vessels.
Crew need to be repatriated at the end of their contract and with Covid it's become increasingly difficult. A drill ship has a large compliment and I would expect a couple of visits a week would not be out of the norm.

Thanks Raleigh, very kind.

MRC, what do you intend to hold to?

I just purchased £15k BAE and £5k of BPC from the sale of my AA shares after the corporate action shenanigans. I don't like having all my holdings in the same area so didn't want to add to IBST as already have £10k here and running at a 25% loss on this. I'm sure it will return to the former value by the end of the year and make hefty gains in the next few months. Not worried about it in the slightest.My money in Capita has suffered a similar fate!LTH no concerns with either.BPC is a gamble though, all depends on the results of this drill ship drilling an exploratory well. I figure you spend millions on that sort of venture you have good reasoning to back it up! Potential for multi bag if successful, else doom!!

Bought 5k worth this morning at 2.08, left overs from the sale of my AA shares - this one is a gamble that's for sure! GLA

Ploughed in with 15k from the sale of my AA shares to this - hopefully does me well. Bit of a stab in the dark, what's everyone's opinions on this ATM?

Good news for BG
https://www.thisismoney.co.uk/money/markets/article-9148693/British-Gas-owner-Centrica-manages-curb-customer-exits-time-years.html

Sold out - not waiting months for an extra 0.75%I'll never get the time back that I was glued to the updates, that's probably the biggest bother.It's been emotional, hope those who lost out big are successful in other ways.

The candle on my AA shares in my IG account is now white instead of green or red.

OK.. scanned through it... So what now?

Initially, someone had recommended it and I did a little research, seems fairly solid and I thought with the rise in new builds etc, should be fairly bomb proof :)
So sunk 10k in, just unfortunate it was at 215.
Quite happy to hold until the former glory returns. Wouldn't think it would be more than the end of the year approaching close to that. I'm happy with that

I had all my IG orders reset today on my ISA account and Share dealing account, they just vanished today..No buggy, but I'll have to recreate them.

momoni - you'll be fine, just turn your computer off for 3 months you'll be alright in no time

Think I'll get something on Friday, shares seem to go down end of work as people off load..

Yeah Ibstock is my worst performer - mainly as I bought a while back, but really can't see why it is. Should be a resilient share..

Probably won't command a high price for the space as there is close to this the Sandwich Pfizer's facility which is enormous and is largely vacant since they pulled out about a decade ago..

Still streamlining though.. Shane the staff won't have access to the great facilities it provides anymore.