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Fri 17:17Price: 31.20
L3Trader166 posts
RE: Right Issue

Hi E121 and sudz,

Many thanks. Good news on West Don then.
My view is that the minor decrease of the Poo so far has led the sp decreases across the oil sector which are unwarranted. If Poo stays as it is, then SPs will move up.

Have a great weekend.
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Fri 16:53Price: 31.20
sudz18 posts
RE: Right Issue

Hi L3, The Well Enhancer is replacing some subsea jumpers and valves on a long shut in production well. Once back on line it should increase daily production by circa 1500 bbls/d .
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Fri 16:21Price: 31.45
epiphany121715 posts
RE: Right Issue

Afternoon L3 - I don't have answers to any of your 3 questions. Alma may be about the only one we could track through tanker offloads, but I'll go with what IR has indicated and that we should be in the circa 5K BOPD rate for Alma/Galia. This is all we can model at this time.

I'm not sure if MO has details of Malaysia well production rates, but I'd think this is unlikely or MO would've shared this with us.
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Fri 15:47Price: 31.45
L3Trader166 posts
RE: Right Issue

Hi MO and E121,

Does any of you know what work might be going on at West Don?
Also, is there any place where production data for Malaysia is available?
Any further thoughts on the daily production at Alma/Galia?

I am not bothered by the DC4 delay, if it means a slightly reduced daily rate, or smaller capex in H2. POO is not coming down as much as I thought it would, so let us wait and see. If it stays above $75, then free cash flow in H2 will be high for the non hedged production.

TA

p.s.: There is someone on this board who suggested reserves have been downplayed in the past. I look forward to the day when ENQ issues an RNS acknowledging they left a digit out in all their previous releases and that 2P reserves are 2000MB, not 200MB... lol
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Fri 14:48Price: 31.40
epiphany121715 posts
RE: Right Issue

As Nick stated here - Operating costs were $22.6 per BOE and Depletion/Depreciation is circa $23.8 per BOE - these are all stated H1 figures and are either stated in the H1 report (operating costs) or can be easily calculated from the details provided in the report, as is the case with Depletion/Depreciation costs. I'm unsure why people think these details aren't provided by ENQ?

Obviously, the Depletion expense is a non-cash charge.
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Fri 14:30Price: 31.25
nicktheglobe58 posts
RE: Right Issue

I thought the last accounts said $22 per barrel operating cost and a further $22 for depreciation and other sustainability costs.
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Fri 13:58Price: 31.30
romaron947 posts
RE: Cake O/T

Hi Auson, I don't really pay much attention to pundits because they're not a lot different to politicians and always cover themselves so you usually get ambiguous comments. Is it a 'trade war'? Trump is using the US power to bully a competitor. It's the only thing he knows and understands. There are grown ups in the background who will back him for selfish reasons. Eventually self-interest takes over and there isn't much of a change. I don't think 'the cycle' is really understood but it is a regular event every few years. If the US wins a 'trade war' it'll be a Pyrrhic victory with those at the bottom of the pile suffering most. He'll then return to normal trade arrangements with Trump telling the voters he's won and made America great (again) in time for mid-terms and re-election. It makes sense to be friends with the biggest boy in the playground and even more so if he's a bully. None of this is surprising and we should all have sold some stocks when the bellicose threats from Trump began. Do any of us expect the US to put morality over the possibility of losing business to Saudi Arabia?
I hate being tied to a screen so avoid trading. I'd have mixed results anyway but at least I'd get the mentality back that half of all trades are sells. If you live in London you'll have looked at house prices in disbelief.
I have been a seller for the past 10 years but my wife loves the house. We kinda knew that the RI would impact adversely on the sp (they usually do) and taken evasive action but I didn't. I truly expect the company to do well once the new fields have bedded in and work-overs caught up.
Your question about the rights is spot on imo but how you trade them is not easy I'd imagine. Do spread betters allow you to short them? The funds look at rights because they expect to get chunks at a discount to the market price and this is what we're seeing imo. Those playing in the part paids or whatever they are now need to understand the market a lot better than me and I expect it is professionals mainly. They have an interest in getting the price down because underwriters have to put in a 'back-stop' on the price (where have I heard that term before?) and everybody knows this. It kinda gives a base and human nature being what it is it isn't surprising when a price heads in that direction. Add to that recent price movements that have nothing to do with the RI and we are where we are. If we could deal backwards we should have sold practically everything, including EnQuest.

As the subject has O/T I'll throw this in for those with time on their hands. It helps explain day traders and accountants. https://www.youtube.com/watch?v=TjZyEuPQ3ic
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Fri 12:33Price: 31.20
Auson1,385 posts
RE: Right Issue

There is no official figure but I would say its a few bucks ( maybe $4 ) more than Premiers.
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Fri 12:31Price: 31.20
TWalbyoff168 posts
RE: Right Issue

That's the million dollar question. ENQ have not been too helpful in disclosing this in the past. The only thing you can do is look back at old accounts and look at the total expenses versus average boepd. There's much more complications to this I know but in very lay terms that would give a ball park.

Worth seeing if anyone else has a better idea without going into the minute details?
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Fri 12:12Price: 30.90
welloilbeefooked174 posts
RE: Right Issue

* what are Enquest's all in barrel costs
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