RE: History about to repeat itself ref Bonds - look what happened with Xcite energy in the North Sea23 Feb 2020 08:13
The bondholders really are not a major issue apart from arbitrage assuming production remains the same. As the bonds get close to maturity HUR should be able to pay a good part of it from cash and as a producer they will be able to borrow the rest.
HUR give the water cut for the whole fourth quarter as 10.3% of fluids which looks like a reduction compared to the last data Published on the OGA website for October which I thinks was closer to 15% of fluids for that month. No doubt others will confirm this later.
Agreed, there will be production in reserve once that occurs and so the eventual production limit for the AM will be within sight. Investors will also need assurances about the prompt delivery of the export gas link to WOSP though.
Serica operate at a completely different end of the Reservoir life cycle so there is no way that you can compare them with HUR. They have an impressive and respected board (a couple of whom I have directly worked for in the past) but in the big picture with their business model they will only ever be a company that follows along behind an ageing elephant with a bucket and shovel.
Water can be managed. The whole of the UK CS produces 4m barrels of water a day, and only 2m barrels of hydrocarbons. I am hoping to have lunch with a reservoir water management expert in the next few weeks to get her angle on this perched water thing.
Perhaps one for the completions or reservoir management guys on here, but lets say hypothetically the perched water continues and becomes troublesome, but is prognosed not to be the aquifer; is it possible to isolate or block that point of inflow on the heal of the producer so that inflow could occur elsewhere at the fractures near the midfoot or the toe of the producer? There must be mitigations available surely ?
RE: Get aff you arse and defend your company11 Dec 2019 15:26
Daltry, I would rather that they released an RNS tomorrow first thing or Monday. The market isn't stupid and knows full well that some less scrupulous companies will use Friday morning, while everyone is distracted by the election result, to sneak out bad news. That sort of thing has happened many times before.
Bartlebobton, I am a long term holder. Some of my E&P holdings I have held for 20 years. One I have held for 32 years. HUR may still come good. Warwick seems open to question, but despite the recent news there are not many potential blockers to HUR achieving the maximim physical throughput for the AM in the next two years. It is what they do after then which is the bigger question.