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Hi,
If the question is what would June net to Enquest be, then
Enquest North Sea BOEPD - 40,749 (with poor Scolty Crathes}
Malaysia - 4431 (still broken)
GEAD - 13166 (Not ours yet)
Total would be = 58,346
GLAXXX
Hi
GEAD = Golden Eagle Area Development = Golden Eagle, Solitaire, Peregrine.
Yes that amount of production would be to to Enquest if deal was signed and minus whatever costs agreed with low opex and capex in Enquest's estimates.
Shax , loving the earlier "the SP could possibly go up tomorrow or down?" Never a truer word was spoken although technically it could sit still I suppose.
GLAXXX
GLAXXX
Hi,
Bad news first - Scolty Crathes tanked. Forties outage?
Kraken and Alba - Steady
Magnus up to 15319. Improved but must do better
GEAD would be just over 10.3k boepd net to for H1 but comes off the sale price for now.
GLAXXX
Hi,
Historically. since my sword has been in the arena, any company reporting has been fuelled with hope and quenched by a drop in value and a general despondence from those of us that see this as a golden egg. But we still know no better.
How about:
GE date finalised or seperate same day RNS.
Magnus improvements both through OGA and Report
Malaysia fix and updated boepd and intervention projection.
EP sale or scrap.
Bentley/Bressay update but not much detail as seismic due Feb 22. Give us a clue.
Eagle CNOCC update.
Kraken potential but seismic Feb 22. Kraken - Steady!!
GKA update - are we getting some product at last?
Sullom Voe western doo dah contract.
And **** loads about meeting green targets.
Float my boat Amjad. I'll be listening for you on sousaphone and Swinney on bongoes pre- presentation.
GLAXXX
Hi,
A bedtime bank holiday treat for y'all.
https://www.bpvideolibrary.com/record/6
If you can spare 20 mins it gives an idea of scale and complexity of the task at the time and the bravado/stupidity of life before health and safety with regard the rescue battery crew midway through. 30 years on hopefully caring hands have recently been coaxing the mighty Magnus back into high performance action?
GLAXXX
and:
"The OGA has disapproved EnQuest’s request.
The parties are currently working towards amending the SPA (i) to
abort the contemplated transaction with a relinquishment of the
Licence, and (ii) extend the SPA for a one year period to allow for
the award of the Licence to Anasuria Hibiscus during the extension
term of the SPA whilst retaining the fundamental principles of the
current commercial arrangements"
So maybe we are still in??
GLAXXX
Hi,
"Hibiscus’ development plans for its 70% interest in the Teal West field and a proposed 85% working interest and operational control of the nearby Eagle pre-producing area (which was a farm-in arrangement with EnQuest) have been delayed with first oil now likely towards 2H2023, from an earlier target of end-2022. This stems from the rejection by the UK’s Oil and Gas Authority (OGA) on EnQuest’s request to extend the Eagle field licence, which expires in late 2022. Hibiscus is now hoping to secure the licence directly from the OGA by aborting the farm-in agreement with EnQuest and expediting the development process."
If "aborting the farm in" means we are out then surely that 15% comes at a price a bit higher than the $1 paid for the 85%
GLAXXX
Hi L3
You get some stick but I think you are a realist.
Footnote 1 fcf breakeven:
"Based on the Group’s aggregate cash outflows prior to any debt repayments and Magnus-related third-party gas purchases divided by net working interest production"
I hadn't spotted that but you are a very naughty boy for pointing it out.
I'm not sure I am even using the right terms here but I I have factored in some thought and formulas to Malaysian "actual earnings" with the production sharing in place but never gone more than a stab at Magnus using info available. So BP share accounted for somehow but not in detail.
For me (as well as I susoect our friend Tarmak) own analysis means excel formulas to try and whittle it down. Need the time and space and inclinaiton.
If this carries on upward trend I don't need to bother. Just need to be ready to evacuate EP when they sell the ageing tub.
Thank you for all your input
GLAXXX
Hi all,
https://www.oedigital.com/news/490043-pgs-completes-kraken-survey-in-north-sea
So they weren't just drawing c0cks. Data not processed till Q2 2022. It's a long game.
GLAXXX
Hi
https://uk.linkedin.com/jobs/view/executive-assistant-pa-to-ceo-at-enquest-2689425600
Essential skill - good at keeping secrets!!
Did anyone apply?
GLAXXX
Hl Himmatsj,
I came across this, maybe it is yours, someone researching Bumi FPSO prospects:
https://pdfhost.io/v/4zOSQa8UE_armada.pdf
Interesting that the last two on the list have much longer fixed terms.
And then more on FPSO's but primarily due to my understandable interest in Enquest Producer and not in response to your question is this:
https://www.worldoil.com/magazine/2021/august-2021/special-focus/offshore-energy-will-power-the-world-2021-2040-fpso-forecast
"...more FPSOs will be upgraded and redeployed to new projects after finishing their current projects. Currently, there are 30 FPSOs available, with more coming off contracts as fields are depleted. Historically, 15% of FPSOs have operated on more than one field. Going forward, we expect this number to increase to 25%, given the number of idle units and their ability to provide a fast-track and economic solution."
Scratching around,
GLAXXX
Hi,
Ship and Bunker graphs have vlfso and brent graphs wandering around like a mad woman p!ssing. Currently trading around par for weight which may, according to my humble calculations, mean just under $11.50 premium for Kreamy unKurdled Kraken Krude.
Cautious as ever but are the stars about to align??
GLAXXX
Hi,
Posted this earlier but it disappeared. Odd.
From our friends at FishSafe. As per ops update:
"EnQuest Heather Ltd intends to undertake offshore construction activities between the Kittiwake Platform and the Mallard Field Well locations and is due to commence circa 24th August 2021. A new power cable is to be laid between the Kittiwake Platform and Umbilical Termination Assembly (UTA) in the Mallard Field approx. 15km to the East of Kittiwake."
GLAXXX
Hi,
From our friends at FishSafe. As per ops update:
"EnQuest Heather Ltd intends to undertake offshore construction activities between the Kittiwake Platform and the Mallard Field Well locations and is due to commence circa 24th August 2021. A new power cable is to be laid between the Kittiwake Platform and Umbilical Termination Assembly (UTA) in the Mallard Field approx. 15km to the East of Kittiwake.
St"
GLAXXX
Hi Aloj,
At a potential £40k warm stack per day we are into £14.5 million a year. I believe £50 million scrap. If anyone knows better please tell. Always been indicated many suitors but I look hard and can't see the endgame.
I, of course, haven't a clue.
GLAXXX
Hi Kamrat,
Looking back I think the percentage I was using was a rough calculation with Tanjong Baran in operation also. Pages 69 and 70 of 2015 Capital Markets Day gives breakdown of arrangements for PM8 Seligi. Awash with unknown variables, as ever, but a sliding scale of about 80% to 30% of production to enquest depending amongst other things on the oil price. Their example shows 59% at $60 oil and $20/barrel costs. I think this is then subject to corporation tax at 38% (ouch).
In other news the Petroatlantic crew have finally been barred from the Mariners Arms and are hightailing it out of Macduff hopefully aiming at Kraken.
GLAXXX
Hi Tarmak,
I attribute 67.17% of Malaysian production to Enquest. I remember doing the math a while back but can't find the reasoning now without going into it again.
I think this was consistent with someone else who had posted prior to that.
I recall it would differ with performance/ production levels.
Previous FY reports have stated revenue from oil and gas in Malaysia seperately so a tenacious being could convert that to percentage of production if they had the energy.
GLAXXX