Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Ammu123 ; How is shutting in in production is going to save the workforce ?
Its safer to leave things running unless critical members of production/maintenance are unable to work.
Its more hazardous to shut in production than to leave it running, (why introduce another hazard?) If the process were to trip,(which its designed to do safely) then they may re-evaluate if staff measures dictate.
Operators have things in place for this happening.
On the other hand there's no mention of it being postponed?
Annex 1
· ABENGOA CLASE B (ISIN: ES0105200002)
· ACCIONA, S.A. (ISIN: ES0125220311)
· ACCIONES FOMENTO DE (ISIN: ES0122060314)
· ACCIONES IBERDROLA (ISIN: ES0144580Y14)
· ACERINOX, S.A. (ISIN: ES0132105018)
· ACS,ACTIVIDADES DE CO (ISIN: ES0167050915)
· AEDAS HOMES, S.A (ISIN: ES0105287009)
· AENA, S.M.E., S.A. (ISIN: ES0105046009)
· AIRBUS (ISIN:NL0000235190)
· AMADEUS IT GROUP, S.A. (ISIN: ES0109067019)
· APERAM (ISIN: LU0569974404)
· APPLUS SERVICES, S.A. (ISIN: ES0105022000)
· ARCELORMITTAL SA (ISIN: LU1598757687)
· ATRESMEDIA CORPORAC (ISIN: ES0109427734)
· AUDAX RENOVABLES, S.A (ISIN: ES0136463017)
· BANCO BILBAO VIZCAYA (ISIN: ES0113211835)
· BANCO DE SABADELL (ISIN: ES0113860A34)
· BANCO SANTANDER S.A. (ISIN: ES0113900J37)
· BANKIA, S.A. (ISIN: ES0113307062)
· BANKINTER, S.A. (ISIN: ES0113679I37)
· BIOSEARCH, S.A. (ISIN: ES0172233118)
· CAIXABANK, S.A. (ISIN: ES0140609019)
· CELLNEX TELECOM, S.A. (ISIN: ES0105066007
· CIE AUTOMOTIVE, S.A. (ISIN: ES0105630315)
· COCA-COLA EUROPEAN P (ISIN: GB00BDCPN049)
· CODERE S.A. (ISIN: ES0119256032)
· COMPAÑIA DE DISTRIBUC (ISIN: ES0105027009)
· CONSTRUCCIONES Y AUX (ISIN: ES0121975009)
· ENAGAS,S.A. (ISIN: ES0130960018)
· ENCE ENERGIA Y CELULO (ISIN: ES0130625512)
· ENDESA,S.A. (ISIN: ES0130670112)
· ERCROS (ISIN: ES0125140A14)
· EUSKALTEL, S.A. (ISIN: ES0105075008)
· FAES FARMA, S.A. (ISIN: ES0134950F36)
· FERROVIAL, S.A. (ISIN: ES0118900010)
· FLUIDRA, S.A. (ISIN: ES0137650018)
· GESTAMP AUTOMOCION, (ISIN: ES0105223004)
· GLOBAL DOMINION ACCE (ISIN: ES0105130001)
· GRENERGY RENOVABLES (ISIN: ES0105079000)
· GRUPO CATALANA OCCID (ISIN: ES0116920333)
· GRUPO EMPRESARIAL SA (ISIN: ES0180918015)
· INDRA SISTEMAS S.A., SE (ISIN: ES0118594417)
· INDUSTRIA DE DISE\O TEX (ISIN: ES0148396007)
· INMOBILIARIA COLONIAL, (ISIN: ES0139140174)
· INTL CONSOLIDATED AIRL (ISIN: ES0177542018)
· LAR ESPAÑA REAL ESTAT (ISIN: ES0105015012)
· LIBERBANK, S.A. (ISIN: ES0168675090)
· MAPFRE, S.A. (ISIN: ES0124244E34)
· MEDIASET ESPAÑA COM (ISIN: ES0152503035)
· MELIA HOTELS INTERNATI (ISIN: ES0176252718)
· MERLIN PROPERTIES SO (ISIN: ES0105025003)
· METROVACESA, S.A. (ISIN: ES0105122024)
· NATURGY ENERGY GROU (ISIN: ES0116870314)
· NATURHOUSE HEALTH, S. (ISIN: ES0105043006)
· NH HOTEL GROUP, S.A. (ISIN: ES0161560018)
· OBRASCON HUARTE LAIN (ISIN: ES0142090317)
· ORYZON GENOMICS, S.A. (ISIN: ES0167733015)
· PHARMA MAR, S.A. (ISIN: ES0169501030)
· PROSEGUR (ISIN: ES0175438003)
· RED ELECTRICA CORPOR (ISIN: ES0173093024)
· RENTA CORPORACION RE (ISIN: ES0173365018)
· REPSOL, S.A. (ISIN: ES0173516115)
· SACYR, S.A. (ISIN: ES0182870214)
· SIEMENS GAMESA RENE (ISIN: ES0143416115)
· SOLARIA ENERGIA Y MED (ISIN: ES0165386014)
· TALGO, S.A. (ISIN: ES0105065009)
· TECNICAS REUNIDAS S.A. (ISIN: ES017816
It was a bit like The Smiths song from back in the day (Panic) but a bit of normality to the price has been restored.
I've been reading some concerns about separators tripping due to bad weather etc, this may happen if the weather gets lumpy but generally you'd get things reset & back up within an hour or two.
The separators have level controllers (instrumentation) to protect the whole system, in bad weather you can override the high level trips as you get spikes caused by bad weather.(although you're not meant to run with overrrides on for any length of time)
I read some grumblings about the risers, in the bad weather, the flexi risers are attached to the bouy, the clue is in the name flexi, there's a fair bit of play in them, all of that would have been thought of by the boffins long before the AM was in Dubai.
All the rumblings about light load etc; this may be just to tie in with another load just before CMD? Roll on CMD .
The operating company has to apply for these permits annually for anything that has the potential to be discharged to sea.
Done
I posted this on the Hurr board and someone suggested I post it here .
Just a thought for all the UKOG contributors who've been speaking crap on here this last while back, we know where the produced water goes from Lancaster & any other offshore installation (if you care to read my previous posts) but on land rigs, is it taken away in tankers ?
Just a thought?
You've gotta love the last line of the Proactive review, "grow a pair for the long term"
Just a thought for all the UKOG contributors who've been speaking crap on here this last while back, we know where the produced water goes from Lancaster & any other offshore installation (if you care to read my previous posts) but on land rigs, is it taken away in tankers ?
Just a thought?
Esk : RNS is the only true legal reporting line that anyone should believe.
The boards are good or bad depending on who you believe, but if you've been in a share long enough & keep an eye on the messages you get to know who is full of crap and who isn't, you also get to know what people do for there day job or what they used to do.
Its easy to see why people can lose faith in any share, but nobody knows what anyone's circumstances are.
This was always going to be one for the future ,(in my mind anyway) 2021/22 is when I'm looking at for a major increase in share price (although I didn't see it being lower than 40p never mind <30p ) The EPS should be well proven and all potential problems with FB ironed out, also even the doubters should have gone by then, also there should be more oil being produced. (or was that tankers of water)
I also remember listening to Malcy & his £20 for a fiver speech.lol.
I seem to remember Dr T saying a few years back that Hurricane were quite happy not to be the operator, (if the right partner came in)he gave the impression that they were quite happy being the explorer and leave the day to day running to someone else, which maybe imo once the FB at Lancaster has been proven to flow for the timescales mentioned we may find another farm in partner taking over the day to running of the AM.
Keep the faith, if you've got the stomach for it and ignore the noise.
14500 bbopd x 32 days =464000
Buzz : I don't normally post much either unless someone is talking out of their arse!
Read my post from around a week ago, regarding what happens with produced water,(on offshore installations) I should know I've been doing this job for long enough.
Nothing has changed since Dr T said before Christmas that one well is producing with minimal water cut, then both wells will be flowed together.
You and the other newly created day trippers could easily clear off as there is no new news here.
Rant over.
GLTALTH's
Rangers1: Despite having no experience in production, probably like you,
Some contributors on here make holes in the ground, I've been sitting emptying holes since the early 2000's.
I was playing golf over in Cullen at the sare heidie on 2nd January.
I haven't sold any either, I actually bought more on the way down at 35.5, in hindsight I should've waited until 30, but i didn't think it'd come down this far. I'll continue to hold, nursing a 5 figure loss at present.
All the ****** about water is just guff, the online well is producing a water cut of less than 2% which is as expected, the AM can handle 20000bbls of water a day(according to the Bluewater website) even if the produced water system isn't working at full capacity of even 50% it will still be able to knock out the amount of water being banded about via separation and cleaned up through the hydrocyclone (oily water clean up)package & disposed of to sea as long as it meets the OIW standard. I've read some crap about it being kept in a sump tank and transfered to a passing tanker, that just doesn't happen any waste water or oil is just recycled through the separators until the water is cleaned up this just goes on & on, its not rocket science.
Roll on CMD so the the Doc can finally shut the doubters up.
GLTALTH's
percent of the difference between the on-sale differential and an agreed benchmark value based on the oil's expected market value). The BP Contract contains stabilisation provisions whereby if a change in regulations has an adverse economic effect on Hurricane, it may request a renegotiation of the price. If the parties cannot agree such revised price within the given timescale, Hurricane may terminate the BP Contract. The BP Contract restricts the Company's ability to dispose of a part or whole of the Lancaster oil field in the following ways: (a) BP may terminate the BP Contract in the event of a farm out where the new licence holder does not meet BP's "know your customer" and anti-money laundering clearance processes at BP's sole discretion (acting reasonably); (b) BP may terminate the BP Contract in the event of a change in control where the party acquiring control does not meet BP's "know your customer", anti-money laundering, sanctions and other regulatory requirements placed on the acquiror; 265 (c) in the event of a farm out, the Company must use "all reasonable endeavours" to procure the new licenceholder enters into a marketing agreement with BP; and (d) in the event of a farm out which reduces BP's marketing entitlement to Lancaster oil to less than 40 percent, the Company must pay BP compensation (subject to DECC's approval of a FDP unless the Company disposes of its entire interest).
Part 1 of 2 (Http://www.hurricaneenergy.com/Investors/AIMRule26/). Given the speculation about BP and the assumption by some that the only current involvement by BP is a small shareholding, here are a couple of snippets from it about the "BP Contract" to ponder at your leisure (the "Company" so mentioned is Hurricane Energy plc; The "GLA" is the Greater Lancaster Area): Page 32 "On 15 April 2013, the Company and BP Oil International Limited entered into an oil off-take agreement pursuant to which the Company sells its entitlement to oil from the GLA to BP (for on-sale to third parties). Further details of the oil off-take agreement are set out in paragraph 12.4 of Part VIII of this Admission Document" (shown below but actually published as paragraph 12.5 rather than 12.4) Page 265 12.5 BP Contract The Company is party to the BP Contract under which Hurricane agrees to supply and sell its entire entitlement to the crude oil produced from the Lancaster Oil Field (Block 205/21a) to BP on an FOB basis and BP agrees to take delivery and purchase such crude oil from the Company and to market such oil to third parties. The BP Contract expires on the later to occur of (i) six years from the first commercial oil production; and (ii) the marketing by BP of fifty-five million barrels of oil; but the term may be extended by the parties for successive twelve month periods. BP may terminate the BP Contract on thirty days notice where the Company does not commence commercial production by 12 April 2020. The BP Contract terminates automatically on the earlier of (i) cessation of production; and (ii) 12 April 2028. The key provisions of the BP Contract are conditional upon BP Marine Assurance's approval of the FPSO; and BP's confirmation that the health and safety policies at the FPSO are satisfactory. The price which BP pays Hurricane for the oil it buys under the BP Contract is dependant upon the price at which BP sells such oil to third parties including a profit sharing factor for Hurricane, based on such sale price. As such, BP's payment to Hurricane is calculated by taking (i) the average of all the high and low quotations on Platts Crude Oil Marketwire for Dated Brent during the first five days of the Bill of Lading month (subject to BP's election to adopt such average from a period at the end of a month); plus (ii) the differential to Dated Brent in BP's on-sale price to third party offtakers FOB at the delivery point (or, if delivery terms are not FOB at the delivery point, then the differential is netted back to BP at a level that reasonably reflects a FOB delivery point differential to Dated Brent using the actual figures); less (iii) a marketing fee. The marketing fee consists of a fixed fee element (US$0.30 per barrel up to 15 million barrels marketed and US$0.15 per barrel where over 15 million barrels are marketed) and the above mentioned profit share element (calculated as 25 percent of the difference between
Scrapper Pigs are like a large dumbbell with a series of scrapping plastic disc's at each end, as the plastic won't damage the internals of the pipework.
Also there are foam pigs which are bullet shaped, also on an annual rotation an intelligent pig is launched which has sensors which can be downloaded to check for any corrosion or pitting in the pipelines.
WW if you work on the Bleoholm ask any of the OTL's onboard JY or AE they'd be able to show you the set up on there.
Apologies, I meant water cut not OiW
Acquiring data is what they (we)are doing, I'm not sure what the fuss is about , the price has taken a battering originally due to the results of the final well test in this years drilling programme, from what I gather they've tested WW to gather as much data as possible which will help with FFD in the future. (hopefully near)
Also a bit of scaremongering (imho) re; coning.
C A don't help the price by selling into pending results but that's how they make there money.
If there were issues with Lancaster wells 6 & 7Z they'd let us know in good time ,(hopefully) meanwhile we just have wait for any official company updates, as deemed necessary.
Meanwhile here's my unofficial update the well which is online is producing @ 25% above the Q4 guidance & the OiW is in line with company expectations.
Its a difficult game to understand when the bad news affects things more than the good news does (the good news is we've been producing for more than 6 months now) so we have a constant cash flow, but that's the way it is with this share in the current market conditions.
Have peaceful festive period from a very stormy north sea.
Bartle -
Not much activity between now until Feb/March, other than putting up the fairy lights.... and looking at the donkey in the nativity play.
Also the matter of 11000 bopd, so just more money in the bank?