Member Info for Therapist

Hi,

I've just read the transcript of today and despite the recent Jacob Rees Mogg appointment meaning I will likely have to surrender my back garden to fracking I will comment as follows.

Malaysia PM8 spot rate at 18,000 following a horizontal well success, "we're still drilling". That seems an indicator of large production!! I saw some innovative stuff on sand screening recently which sounded cutting edge.

Malaysia - gas - petronas =???

Sullom Voe CCS - The licence areas NNS1 and NNS2 are mirroring Magnus, Heather Thistle etc. What it costs, what you get paid is worth some thought?

No outro for Lambrini Swinney but on paper Salman talked the talk. Didn't he do well?

Magnus - still fixes required for the 40 year old (o.k. L3) but ambitions.

.. . . . and frick me there is the announcement and subsequent share price dissapointment slapping me round the face like a senior prostitute's strap on at an after party.

GLAXXX - we frikkin need it . . .

Hi,

Due to loss of dramatic impact I would like to make it clear that my glass is now full rather than half full. I thank you.

GLAXXX

Hi L3

update soon but . . . a bit harsh??. From the recent update . . .

Point 2 -

Magnus - Average production for the first six months of 2022 was 12,754 Boepd, impacted by a pump and well integrity failure in June. The 2022 well work campaign is underway, with the North West Magnus well expected online in the coming weeks. The long-term plan to enhance production and mitigate risk of future well failures is progressing, with two wells successfully returned to service in the first half of 2022 and with further well work planned in the second half of the year. Preparations are underway for the three week shutdown planned in the third quarter (hopefully July??), with the key workscope being a compressor overhaul." So the problem child is entitled to some downtime??

GEAD - "Year to date June production was 7,060 Boepd. Production efficiency remains strong at 95%, partially offset by gas lift maintenance and natural decline. The joint venture has approved a two infill well drilling campaign to commence in the fourth quarter of 2022, with first oil expected in the first quarter of 2023" Lets give that a bit of maintenance time also??

My glass is currently half full but as you can imagine I am very shortly going to make it half full before tomorrows update.

Can't say I haven't been disappointed before . . .

GLAXXX

Hi,

Oil is not within it's "normal" price range.

The explanatory notes to the Draft legislation: Energy (Oil and Gas) Profits Levy Bill says so from 7th July;

"Since early last year, oil and gas prices have risen substantially, with oil prices nearly doubling since early last year, and gas prices more than doubling, resulting in significant increases in profits earned from UK oil and gas extraction.", "In future years, if oil and gas prices return to historically more normal levels, the government will phase out the levy."

It's obvious. Normal = a bit more than half of the oil price on 7th July 2022 exponentially linked to the current gas price. Not so much a number as a concept. Precision legislation.

GLAXXX

Hi,

As the latest Kraken load makes it's way to Rotterdam I see that the last load is being offloaded at Floridia in Malta. A quick googoo of Malta Bunker fuel prices shows VLFSO at $725 per tonne which I equate to $111.80 per barrel.

Mick doesn't seem to have factored in a Kraken premium:

https://www.youtube.com/watch?v=c9bcmdn0IQs

GLAXXX

Hi,

I couldn't see a current UT but best current guess and my challenge reportage all subject to Romaronic adjudication.

https://www.dropbox.com/s/yc4xi5eyo9guvyf/Romaron%20Challenge%20Update%2001.09.22.pdf?dl=0

Also, those monkeys at NSTA seem to have released two months of production data so June and July in. I'll wait for incoming report before graphing anything but looks like Magnus and Alba had some planned downtime.

GLAXXX

Hi,

The Malaysian arbitration system crawls forward "Hearing of the suit for Stay Application by ENQUEST has been ongoing for two (2) sessions on 06 July 2022 and 09 August 2022 respectively. The Hearing continues on and the next date of continued Hearing is on 11 November 2022."

In the meantime they are trying to drag Petronas in "PBJV filed Originating Summons and Notice of Application for Direct Payment against Petronas (who is being the partner of Enquest under Production Sharing Contract) under S.30 CIPAA 2012 (Suit 81). First Case Management was fixed on 13 April 2022 and Court has further fixed 2 June 2022 as next Case Management to update Court on Suit 33. Court has further fixed September 2022 as next case management for further directions pending disposal of Suit 34 [Stay Application by ENQUEST pending Arbitration]."

Enquest recruiting a Senior Drilling Supervisor for Magnus for the "delivery of a variety of work programmes"

GLAXXX

Hi,

Just because.

https://www.facebook.com/watch?v=3283406601901952

I'm not in denial, I'm a realist and his Southern drawl just makes it funny.

GLAXXX

Hi

These are the headlines from a monthly report I get from a small to mid size energy wholesaler on state of UK energy market:

"Gas and Electricity Wholesale prices are showing extreme volatility
EU Gas Storage levels are an improved 77% full
Nord Stream 1 will close once again at the end of the month for three days

Since our last Energy Report, Gas and Electricity Wholesale prices are higher.

Electricity prices in the UK are being impacted by Gas costs as it has contributed an extremely high 49% of generation so far in August. Wind is down to just 14%. The drought across Europe has created generation issues, impacting on Hydro power and the delivery of Coal by river to power stations. France already had a number of Nuclear reactors offline due to safety concerns and more recently problems cooling them due to the heatwave. This means we are exporting large volumes of Electricity via the Interconnectors to the continent."

As if war, politics and lack of development weren't enough I'd not really factored in "extreme weather". Lack of wind, lack of water (even for boats) and excess of heat.

I'm already siphoning bath water for the garden, might have to rig up a dynamo to keep her love eggs charged.

GLAXXX

Hi external,

A bit late to the topic but here is my take on gas.

https://www.dropbox.com/s/5qxu2z5gkfwlxdd/Enquest%20NSTA%20Boepd-%20Gas%20-%20Saleable%20Production%20-%20Jun%2019%20to%20May%2022.pdf?dl=0

This is gas that could go in a pipeline and be sold. If it does then not all income to Enquest, like what McLondoner said. Malaysia as always a big guess based on historic income. Magnus and Malaysia mostly but boosted by Golden Eagle of late.

GLAXXX

Well spotted Yeah Baby,

I'll take it further. I'm working on the premise that you are actually all one person with a massive Dissociative Identity Disorder. I didn't make the AGM but did see a picture of the room with a whole bunch of empty seats and one geezer with 50 name tags.

Have a great weekend one and all . . . . . .well, ok, . . . . . you just have a great weekend then.

GLAXXX

Hi,

It's a bit forum tepid at present. I've just clicked here:

https://www.shell.co.uk/a-cleaner-energy-future/the-uk-is-ready-for-cleaner-energy.html#iframe=L3dlYmFwcHMvY2xpbWF0ZV9hbWJpdGlvbl9VS19jbGVhbmVyX2VuZXJneS9pbmRleC5odG1s

There isn't an image of anything offshore unless you dig deep.

The big boys, as we know are distancing themselves and positioning as "energy" companies. That makes sense, they have scale, finance, transferable skills, great big holes in the ground and infrastructure for carbon capture. They still drill for oil and gas though!!!!!!!!!

Enquest have all that too. A little below the radar, making their mark with ESG, and I honestly believe part of the solution rather than the enemy.

I'm with Amjad, I may not have, but I think he has a clue. "Energy Quest" maybe??

The company recently wins industry awards, is up for social awards (Archway) and on a self righteous note, and before I die, will let us know if they have won the litigation against Barakah.

I'm still in!!

GLAXXX

Hi,

Scott Spirit looks like due an Aegean Dream at Scapa Flo STS 3. Fujairah and Americas priced up right now but nowhere near peaks. Interesting to see where the cracked and kremey load ends up . . . . . just like the denoument of any low brow art house porno.

GLAXXX

Hi,

I feel a boat coming on. Scott Spirit is due tomorrow 1700. Oil approaching the $100 again, brand new snergelly hose and captain has been off the booze for three whole weeks. What could possibly go wrong?

GLAXXX

Hi,

So I have reverse engineered numbers into a June slot to satisfy today's update against OGA up to May. I know it isn't a precise science and there is a notion that OGA is mid month to mid month, however:

Magnus goes to around 10k in June with the reported June failure
Kraken is at very high levels
GEAD just over 6.2k
Malaysia now as reported for first 6 months
"Other" is the mystery. Needs to add about 5k June for average Jan to May to hit the update figure of 4081. Petrofac stated de-bottlenecking but that is some improvement.

J Swinney departure confirmed, so a 12 pack of Strawberry Lambrini at £36 needs to be taken into account also.

GLAXXX

Just had a re-read of the earlier and to clarify "so far this year" meant to end of May rather than the present.

GLAXXX

Hi,

Yes GEAD. included.

Hi,

May NSTA numbers in. I have North Sea at 44,568 boepd for May and running at 44,190 so far this year. Add what you like for Malaysia but with my guesses I am at 48,543 so far this year.

Infill drills to come on the plus side, a bit of maintenance outage as a negative.

GKA debottlenecking recently announced so the only bottlenecking I am expecting tastes like Lambrini and is at the Swinney leaving do. Anyone know when that is . . . and whether he still has a new job??

GLAXXX

Hi,

Enquest have just released this dividends update video for Pelle. They know he wants carrots but are limiting them for the time being.

https://www.youtube.com/watch?v=lYudfFFmw-s

GLAXXX

Hi,

https://www.shetnews.co.uk/2022/07/25/new-gas-pipeline-could-be-installed-at-sullom-voe-terminal/

GLAXXX