ma 13 jun 2011, 17:08
'Meer dan 500 miljard in zoektocht naar olie'
LONDEN - De gezamenlijke investeringen van oliemaatschappijen wereldwijd in de zoektocht naar olie en gas komen dit jaar naar verwachting voor het eerst uit boven 500 miljard dollar. Dat meldde de Britse bank Barclays maandag op basis van eigen onderzoek.
Daaruit bleek dat er dit jaar ruwweg 529 miljard dollar (367,5 miljard euro) zal worden geïnvesteerd. Dat is 16 procent meer dan vorig jaar en 8 procent hoger dan de raming van 490 miljard dollar die Barclays in december naar buiten bracht. De miljarden zullen vooral worden gestoken in grote gasprojecten en het boren in diep water in West-Afrika en Brazilië.
Met het opvoeren van de investeringen hopen de olieconcerns te profiteren van de stijgende vraag naar olie en gas. Die hogere vraag heeft dit jaar al geresulteerd in een toename van de olieprijzen met ongeveer 12 procent. Brentolie kostte maandag 119,30 dollar per vat, ruwe Amerikaanse olie werd voor 98,50 dollar per vat verhandeld.
Definitions:
Bcf Billion cubic feet.
Bcfe Billion cubic feet of natural gas equivalent.
bbl Barrel of oil.
bbl/d Barrel of oil per day.
boe Barrel of oil equivalent. Boe's may be misleading, particularly if used in isolation. The Colombian standard is a boe conversion ratio of 5.7 Mcf:1 bbl and is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.
boe/d Barrel of oil equivalent per day.
Mbbl Thousand barrels.
Mboe Thousand barrels of oil equivalent.
MMbbl Million barrels.
MMboe Million barrels of oil equivalent.
Mcf Thousand cubic feet.
MMcf Million cubic feet.
MMcf/d Million cubic feet per day.
Tcf Trillion cubic feet.
WTI West Texas Intermediate Crude Oil.
ALBERTA OILSANDS INC. ANNOUNCES FOURTH QUARTER AND YEAR 2010 RESULTS
BeantwoordenVerwijderen5/2/2011 7:30 PM - FND
Alberta Oilsands Inc. (AOS - TSX Venture), is pleased to announce that it has filed with Canadian securities authorities its audited financial statements and management's discussion and analysis for the year ended December 31, 2010.Copies of the filed documents may be obtained on AOS' SEDAR profile at www.sedar.com.
Highlights
* The Company's Clearwater Phase 1 Project Application with the Energy Resources Conservation Board ("ERCB") and Alberta Environment ("AENV") was filed on January 15, 2010 and a comprehensive update was submitted in December 2010, which included revised well orientation, detailed reservoir and cap rock integrity studies, stakeholder consultation activities and a requested maximum operating pressure of 1,000 kilo pascals ("kPa");
* A third-party reserve assignment for the Clearwater property, dated December 31, 2010, of 12.0 million barrels of probable gross lease reserves and 32.7 million barrels of possible reserves was received;
* An additional four key sections of 100 percent working interest oil sands leases at Clearwater were acquired in November 2010;
* The 2010-2011 Clearwater winter coring program that included delineation of both current and newly acquired leases was commenced to determine additional resource potential and aid futuredevelopment planning;
* A third-party assignment of 79.9 million net barrels of net bitumen contingent resources at the Hangingstone East property was received;
* Kenya oil exploration blocks were sold to Africa Oil Corporation ("Africa Oil") in exchange for 2.5 million common shares of Africa Oil and 1.5 million warrants. Subsequent to year end 2010, the Africa Oil common shares including those received from all exercised warrants were sold for net proceeds of $5.6 million;
* Equity flow-through financings were closed in 4th quarter 2010 for gross proceeds of $6.56 million.
Review of Operations
Oil sands - Clearwater
Throughout 2010, AOS continued to take steps on the path to production at its first oil sands project, Clearwater. The Clearwater Solvent Low Pressure Steam Assisted Gravity Drainage (SLP-SAGD) Pilot Application, filed on January 15, 2010 with the ERCB, is for a Phase 1 Project that has a design production capacity of up to 4,500 barrels ("bbls") per day of bitumen through six horizontal SAGD well pairs. Subject to regulatory approval anticipated later in 2011, AOS expects to begin construction of the well pad and drilling of the horizontal well pairs in early 2012. Production capacity is planned to increase to 15,000 to 25,000 bbls per day of bitumen in Phase II.
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Huidige market cap is ca 30 miljoen CAD, huidige koers is ca 25 cent.
Oud nieuws precies, deze publicatie is van 2 mei? Als de financiering van ca. 150 milj. dollar voor Clearwater er dus komt kunnen we weer flink stijgen?
BeantwoordenVerwijderenAnoniem,
BeantwoordenVerwijderenals er duidelijke vooruitgang geboekt wordt EN het klimaat voor olie-aandelen verbetert, dan zie ik de koers op z'n minst behoorlijk herstellen, maar hou er wel rekening mee dat bv een zeer goedlopend bedrijf als Connacher ook erg goedkoop is.
Waarom oliezand-aandelen zo laag staan bij ideale omstandigheden (olie hoog en gas laag) is mij een raadsel.
interessant stuk over LNG:
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10% LNG Export by 2015?
Despite a well-supplied market, Henry Hub has experienced a rare excitement spiking to a 10-month high partly on the prospect of increasing LNG trade (See Chart) and export after the U.S. Energy Department authorized Cheniere Energy (Amex: LNG) to export LNG from its Sabine Pass terminal.
Sabine Pass is the largest of nine import LNG facilities in the United States. Cheniere Energy plans to retrofit the import terminal for liquefaction capabilities. Construction is set to begin in 2012 and the production is expected to come online in 2015.
Morgan Stanley has estimated that North American LNG export capacity may exceed 6 bcf/d by 2015, or around 10% of the current US daily production of 60 bcf/d. Morgan Stanley said it expects the ramp-up of the LNG export to ease the current stranded price environment as both the US and Canada have LNG export projects in the works targeting LNG export by 2015.
Separate But Not Equal
In most of Europe and Asia, the price of natural gas/LNG is typically linked to crude oil under multiyear contracts. The ratio of Brent crude to Henry Hub natural gas touched a record of more than 31-to-1 on April 8. The average during the past decade is about 10-to-1. So the recent spike in crude prices has also accentuated the international LNG price differentials to the U.S. Henry Hub….of up to 300%.
While Henry Hub gas in the U.S. is sitting at less than $5 per mmbtu, NBP gas in the UK costs more than $9, and the benchmark for east Asia which is liked to JCC, ‘Japanese Customs Clearing Price’, or ‘Japanese crude cocktail,’ is more than $13 per mmbtu, according FT.com based on
With an estimated 100 years of domestic shale gas supply at current rates of demand, and a farily flat domestic demand outlook, it is understandable the excitement of market players from the prospect of gas exports to higher priced markets in Asia and Europe.
2)
BeantwoordenVerwijderenBooming Demand in Asia & Europe
Nevertheless, as a result of the Japan nuclear crisis, countries like Germany and China have either phased out nuclear power plants, or suspended approvals of new nuclear power plants. Natural gas, a cleaner burning fossil fuel, is next in line to fill the void left by the nuclear energy.
Natural gas currently accounts for only about 4% of China’s overall energy usage compared with a global norm of about 16%. The expected demand growth in China, coupled with fast declining conventional gas production in Europe and Asia will likely boost demand in the coming years.
Investment Thesis
On that note, I’d stay away from the US-centric gas producers such as Chesapeake Energy and Devon Energy, and instead look at companies such as Royal Dutch Shell, Chevron, Exxon Mobil, and Conoco Phillips, that have LNG and other gas production facilities close to the higher demand regions of Asia and Europe.
Manufactures supplying engineered equipment to LNG and other hydrocarbon construction projects like Chart Industries Inc. (nasdaq.GTLS), General Electric and Siemens AG, and engineering and construction companies such as Fluor Corporation, and Shaw Group would be two other sectors that could also benefit.
To many investors, Cheniere Energy might seem to be an obvious choice to ride the natural gas trend, as shares have climbed 40% since the export permission was granted on May 20. But remember Cheniere has gone through two rounds of heavy capital spending on Sabine Pass—in 2003 to build the import terminal, and now to retrofit the export facility.
High debt, low profitability, coupled with an uncertain natural gas outlook as discussed here, makes Cheniere Energy stock look risky on valuation and could even be a good candidate for shorts.
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http://news.morningstar.com/articlenet/SubmissionsArticle.aspx?submissionid=119011.xml&part=2
‘Cocktail’ Index
BeantwoordenVerwijderenPurchases of LNG by Japan and Korea, the world’s biggest importers of the fuel, are based on a formula that includes what is known as the Japan Crude Cocktail, an average of prices the nation pays for oil imports provided monthly by the Finance Ministry, according to James Jensen, president of Weston, Massachusetts-based Jensen Associates.
In January, when the cocktail price averaged $91.83 a barrel, LNG Japan Corp., an energy-trading company, paid an average of $12.84 per million Btu for cargoes from Qatar. Natural gas in New York that month averaged $4.498.
At $4 per million Btu, it would cost $9.15 to deliver U.S. gas cargoes to Japan, when taking liquefaction and transportation costs into account, according to Barclays. Delivery to Europe would cost $7.15 because of the shorter voyage, the bank said in the report. European importers currently pay about $10 per million Btu.
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http://www.lngworldnews.com/high-oil-prices-may-accelerate-north-america-lng-exports/
Fretting over fracking risks jobs
BeantwoordenVerwijderenCommentary: Administration panders to inordinate fears
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http://www.marketwatch.com/story/fretting-over-fracking-risks-jobs-2011-06-17?siteid=yhoof
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commentaar: eindelijk een helder artikel over 'fracking' en de vermeende bezwaren.
Soms vraag ik me af wat de mensen eigenlijk willen: er is werkelijk geen enkele vorm van energie waar niet over gezeurd wordt.
Gewoon geen energie verbruiken?
BeantwoordenVerwijderen;-)
Deze al gezien? Fracking is onveilig en kernenergie niet.
BeantwoordenVerwijderenParis Shale-Oil Ban Makes Toreador Casualty of Public Outcry
By Tara Patel/Bloomberg - Jun 16, 2011
Toreador Resources Corp. (TRGL) Chief Executive Officer Craig McKenzie’s optimism about oil from the shale rock around Paris -- some even under the Eiffel Tower -- boosted the company’s shares to a record in January.
Six months on, France is set to become the first country in the world to outlaw the drilling technique that’s vital to Toreador’s success. A parliamentary committee yesterday agreed on a ban that removed the possibility of fracking even for “scientific experiments.” Both houses of the French parliament are slated to vote on the bill this month and it could become law in July.
The company has tumbled as much as 79 percent from its high to $3.77 in Nasdaq Stock Market trading, wiping out $374 million in market value.
Tweetie,
BeantwoordenVerwijderendat had ik inderdaad ook gezien; zie draadje over 100 miljard barrels onder Parijs.
Press Release Source: Connacher Oil and Gas Limited On Wednesday June 22, 2011, 9:00 am
BeantwoordenVerwijderenCALGARY, June 22, 2011 /CNW/ - Connacher Oil and Gas Limited (Toronto:CLL.TO) announced today that the company, in conjunction with Alberta Oil Sands Inc. ("AOS"), has engaged RBC Rundle to assist in the sale of a 100 percent working interest (held 50 percent by Connacher and 50 percent by AOS) in 38.5 contiguous sections (24,640 acres) of oil sands leases located at Halfway Creek, in the heart of the Athabasca oil sands region in northeast Alberta.
As at December 31, 2010, in aggregate, the Halfway Creek leases have been assigned 154.5 million barrels of best estimate contingent resources and 47.7 million barrels of best estimate prospective resources based on an independent reserve and resource report prepared by GLJ Petroleum Consultants Ltd. ("GLJ"). To date, a total of 32 core holes have been drilled on the Halfway Creek lands and the lease block has been covered by 2-D seismic. Connacher is disposing of its interest in the Halfway Creek leases to allow the company to continue to focus on its Great Divide assets as its core oil sands region. As evaluated by GLJ in a report as at December 31, 2010, Great Divide has the potential for greater than 55,000 bbl/d of bitumen production, based on estimates of proved plus probable plus possible reserves.
Assuming successful completion of the disposition process, the transaction would further fortify Connacher's liquidity position. The disposition is consistent with the company's previously announced five-point strategy for 2011, which includes asset rationalization, production optimization, streamlining its balance sheet, accelerating its evaluation of its conventional resource plays and accelerating the development of its Great Divide oil sands assets through a process to conclude a joint venture. Most of these initiatives are proceeding or have been completed.
commentaar op bovenstaand stuk over AOS/CLL:
BeantwoordenVerwijderenHet oliezand dat ze willen verkopen bevat ca 200 M barrels en staat voor bijna niks op de balans.
Het veelgeroemde Xcite heeft ca 120 M barrels, de market cap van XEL is ca 350 M CAD.
De benodigde investering voor Xcite om het spul uit de grond te halen bedraagt ca 2,5 miljard, terwijl ik dit bedrag voor het oliezand op max. ca een half miljard schat.
Take your pick.....!!!
Op het AOS-forum op Stockhouse wordt de waarde van een barrel in oliezand geschat op 50 tot 80 cent.
BeantwoordenVerwijderenDus de minimale opbrengst voor AOS zou ca 50 miljoen kunnen zijn.
goed nieuws precies, zo komt de financiering van het clearwater project een stap dichterbij !! Volume valt me wel tegen, maar gezien het orderboek zijn er ook weinig verkopers.
BeantwoordenVerwijderenTycoon Says North Dakota Oil Field Will Yield 24 Billion Barrels, Among World’s Biggest
BeantwoordenVerwijderenJun. 27 2011 -
Billionaire Harold Hamm is convinced thereʼs 24 billion barrels of oil to be coaxed from the Bakken field of North Dakota and Montana. No one has more acres there than he does.
The last time we profiled Harold Hamm, the billionaire founder of Continental Resources, it was early 2009 and oil prices had slumped to $40 a barrel. This was bad news for Hammʼs big push into the Bakken oil play of North Dakota and Montana, where tight rocks and tricky drilling necessitate $50 crude to break even. With oil back at $100, Hamm is sitting pretty with the biggest holding in the Bakken and set to invest $1 billion there this year in his quest to prove that it is not just one of the biggest oil fields in the United States, but in the whole world. “Out of all the oil plays in the U.S., thereʼs just one Bakken,” Hamm says. “It towers above everything else.”
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http://blogs.forbes.com/christopherhelman/2011/06/27/tycoon-says-north-dakota-oil-field-will-yield-24-billion-barrels-among-worlds-biggest/?partner=yahootix
uittreksel:
BeantwoordenVerwijderenHammʼs number is aggressive because his drilling technique is aggressive. Most analysts and operators assume one well per 640 acres of reservoir. Too conservative. Continental has developed a new drilling concept it calls Eco-Pad to exploit both reservoirs. One rig will develop a 2-square-mile area by drilling eight wells—four into the Bakken layer and four into the Three Forks. Each well goes down two miles, then horizontally two miles through the reservoir. Using explosive charges, the drillers will make hundreds of holes (called “perforations”) in the pipe of each well. Then comes the hydraulic fracturing— where the well is injected with 1.8 million gallons of water and sand that props open tiny fractures in the dolomite rock to let out the oil. The “Eco” in this Eco-Pad concept? All this work on eight giant wells gets done from one spot, causing less surface impact.
From there, itʼs simple arithmetic. The basin covers about 8 million acres. Hamm figures there’s room for 48,000 wells. If each one delivers that 500,000 barrel average, you get 24 billion barrels. Even then, drillers will be harvesting well less than 10% of what geologist Edward Murphy of the North Dakota Geological Service figures is 250 billion barrels of original oil in place. The Williston basin is churning out 450,000 bpd now. Within four years, says Hamm, it will be producing 1.2 million bpd — as much oil as is currently recovered from the entire U.S. side of the Gulf of Mexico.
WesternZagros: Targeting over 1 billion barrels of oil in next drill campaign
BeantwoordenVerwijderenThu Jul 07 2011 14:24
WesternZagros (CVE:WZR) is a Canadian based oil exploration and development company that is exploring for oil and natural gas in Iraq. The Company holds a Production Sharing Contract with the Kurdistan Regional Government in the Kurdistan Region over the Kurdamir and Garmian Blocks that cover 2,120 square kilometres or 500,000 acres, and form one of the largest and very prospective exploration areas in the region. Both Blocks are located on the same trend as the super giant Kirkuk oil field which is 75 kilometres to the northwest.
The Company has already completed one well on each Block, where both wells discovered significant quantities of hydrocarbons. The last well tested by the Company flowed light oil at rates of over 9000 barrels per day. An independent audit completed by Sproule International confirms prospective resources at over 1.75 billion barrels of oil equivalents, including 1 billion barrels of oil.
In 2005, the Company was one of the first operators to commence oil exploration in Kurdistan, securing a large and strategic landholding that lay along trend from Iraq’s northern oil fields. A Production Sharing Contract was executed at a time when Kurdish authorities were at loggerheads with the central government in Baghdad, who refused to accept the legality of these oil deals.
In early 2011, the Iraqi Government announced formal recognition of the Kurdish Production Sharing Contracts that were previously in doubt, and allowed oil exports from Kurdistan to resume. The Kurdish authorities then presented their first export statement to the Iraq Federal Finance Ministry for over 5 million barrels of oil that had been delivered for export, which was officially recognized in May, by the first payout from the Ministry of approximately US$243? million, constituting 50% of net revenues on that oil.
Iraq is currently exporting 2.25 million barrels per day, from record production of 2.7 million barrels per day, with Kurdistan contributing approximately 180,000 barrels per day of this total, and planning to increase this to 200, 000 barrels per day by the end of this year.
WesternZagros has amended its Kurdish interests by splitting them into two Blocks, while retaining their 40% interest in both areas. The northern Production Sharing Contract is now known as the Kurdamir Block, covering 340 square kilometres and has Talisman Energy (TSE:TLM) as operator, and contains the Kurdamir-1 discovery well.
WesternZagros is operator of the southern Production Sharing Contract, which is now called the Garmian Block, and covers 1,780 square kilometres. This area contains the Sarqala-1 discovery, along with the Mil Qasim, Qulijan and Baran prospects.
The Kurdamir-1 well was completed under the terms of the original Production Sharing Contract, and was drilled to a depth of 4,077 metres through the crest of the Kurdamir structure, penetrating 1,919 metres of gross hydrocarbon shows. The first hydrocarbon intersection occurred at a depth of 2,142 metres, and penetrated a 327 metre column of oil and gas in the Oligocene reservoir, the second intersection penetrated a 634 metre oil and gas column in the Eocene reservoir, and the third intersection penetrated a 752 metre oil column in the Cretaceous reservoir. Testing of the Oligocene reservoir confirmed the discovery of light oil and a large gas cap.
Drill stem tests flowed 27.5 MMcf/d of gas, and 1,172 bbls/d of 61° API natural gas liquids, with the well predicted to produce over 50 MMcf/ day of gas and 2,240 bbls per day of condensate from the Oligocene alone. Prospective resources of oil in the Oligocene are estimated at 85 MMbbls at P90, 260 MMbbls at P50, and 560 MMbbls at P10. Contingent resources of gas are estimated at 505 BCF at P90, 850 BCF at P50, and 1,420 BCF at P10; and condensate at 22 MMbbls at P90, 33 MMbbls at P50, and 48 MMbbls at P10.
deel 2)
BeantwoordenVerwijderenMajor oil upside remains in the deeper and untested Eocene reservoir, with an estimate of 18 MMbbls at P90, 86 MMbbls at P50, and 273 MMbbls at P10; and the deepest untested Cretaceous reservoir with 59 MMbbls at P10, 152 MMbbls at P50, and 340 MMbbls at P10.
The Kurdamir structure is part of a much larger reservoir system that extends for at least 20 kilometres and is being intersected in the Topkhana-1 Well, being drilled by Talisman and located 12 kilometres to the northwest, where Western Zagros has no interest. The current Mean Prospective Resources on the WesternZagros owned Kurdamir Block is estimated at 585 MMbbls, and may potentially be part of one of the world’s biggest oil fields. The Bai Hassan oil field which is located 125 kilometres to the northwest, contains 2.2 billion barrels of oil, and has a similar structure to Kurdamir-Topkhana.
The Kurdamir-2 is positioned 2 kilometres from Kurdamir-1, is planned to spud in the fourth quarter of 2011, and will test the flank of the structure, drilling through the Oligocene, Eocene, and Cretaceous formations.
Sarqala-1 was recently drilled on the larger Garmian Block and intersected multiple oil zones in the Upper Fars sandstone reservoir, and in the deeper Jeribe and Oligocene carbonate reservoirs, terminating at 4,357 meters within the Oligocene reservoir. A sidetrack was run across the Jeribe formation, where initial testing flowed light 40° API oil at rates of over 9,000 barrels of oil per day, without any stimulation or water production, and has en completed as a potential oil producer. The Prospective Resources for the Jeribe oil reservoir have been estimated at 9 MMbbls for P10, 66 MMbbls for P50, and 248 MMbbls for P10, and will be updated following further testing.
The Mil Qasim-1 well is anticipated to spud next month, and will be located 3 kilometres from Sarqala-1, and positioned on the crest of the Upper Fars Sandstone reservoir. This will be a shallow and simple hole drilled to a depth of 2,400 metres, seeking to intersect the same multiple zones of oil bearing sandstones encountered in Sarqala-1, which encountered high pressure 35 to 42° API oil.
Following the results of Kurdamir-2, it is likely that the Company will drill Qulijan-1, which is an exploratory step out well on a structure that is approximately 12 kilometres long and is next to the Kurdamir structure, but is located within the northwest corner of the Garmian Block.
Mil Qasim-1, Kurdamir-2, and Qulijan-1 will target over 1 billion barrels of oil equivalents, and have the potential to become world class producers.
The Production Sharing Contract that applies on both blocks entitles the contractor group to recover costs and then garner a minimum of 16% to maximum of 35% of oil profits, and between 20% and 40% of gas profits. The profit margins reduce on a linear scale as the revenues from the production of hydrocarbons increase above the costs incurred.
The oil that has been recovered on both blocks is a proven light and low sulfur oil that is highly desirable to enhance export blends, as 69% of Iraq’s reserves are 27° API or heavier. Western Zagros expects to be producing its first oil revenues from Sarqala-1 by the end of the current year, from extended well testing, with oil trucked to Kirkuk for export via local pipeline.
The Company currently has cash of $78.5 million, but will require additional funds to complete its current three well program. Ongoing exploration success, with the potential to develop a world class oil field, and the smoothing of relations between Kurdistan and the Central Government will underpin this effort.
Story by ProactiveInvestors
Aanradertje?
BeantwoordenVerwijderenAnoniem,
BeantwoordenVerwijderenbijna alle olie-aandelen zijn fors gedaald en spotgoedkoop, WZR is een van de velen.
De koers van WZR was in 2009 (toen ze nog niks gevonden hadden) een veelvoud van de huidige koers. Ze moeten nog 1 keer geld ophalen en dan eind dit jaar komen er flinke inkomsten. WZR krijgt uit de inkomsten eerst z'n investering terug (een paar 100 miljoen). Het vindrisico is praktisch verdwenen, de koers is laag en de kansen zijn enorm.
Oke, maar geld om alles te kopen heb ik niet echt ;-)
BeantwoordenVerwijderenAnoniem,
BeantwoordenVerwijderenmensen met weinig geld zijn gedwongen om aandelen te kopen die kunnen verveelvoudigen, dat maakt je keuze een stuk eenvoudiger...!!
lol
Precies,
BeantwoordenVerwijderenGraag uw top3 van deze categorie. Bij goed nieuws een krat dure wijn en gratis promotie voor uw site ;-).
Interessant.
BeantwoordenVerwijderenhttp://www.businessinsider.com/current-oil-overview-and-what-it-may-mean-to-equity-investors-2011-7
BHP Billiton to Acquire Petrohawk for $12.1B
BeantwoordenVerwijderenBy Soraya Permatazari and Elizabeth Behrmann - Jul 15, 2011 10:06 AM GMT+0200
Melbourne-based BHP, the world's largest mining company, will pay Petrohawk $38.75 a share, the two companies said today in a statement.
BHP Billiton Ltd. headquarters in Melbourne, Australia. BHP joins producers including Exxon Mobil Corp., the largest U.S. oil company, and Chevron Corp. in ramping up acquisitions in natural gas prospects previously considered too difficult and costly to exploit.
BHP Billiton Ltd.'s purchase of Petrohawk would be the largest acquisition of a U.S. exploration and production company since Exxon Mobil Corp. bought XTO Energy Inc. for $34.9 billion in 2009, according to Bloomberg data. Source: BHP Billiton Ltd. via Bloomberg
BHP Billiton Ltd. (BHP), the world’s largest mining company, agreed to buy Petrohawk Energy Corp. (HK) for about $12.1 billion in cash in its biggest acquisition, betting natural gas demand will gain in the U.S.
Melbourne-based BHP will pay $38.75 a share using cash and debt, the companies said in a statement today. That’s 61 percent more than Houston-based Petrohawk’s average price over the past 20 trading days and compares with the 25 percent average premium in 17 deals worth at least $5 billion for oil and gas producers in the past five years, Bloomberg data show.
The deal marks Chief Executive Officer Marius Kloppers’s second foray in shale gas, forecast to account for half U.S. gas output by 2030, and follows the $4.75 billion purchase of assets from Chesapeake Energy Corp. in March. It adds three fields across about 1 million net acres in Texas and Louisiana and takes BHP into the top 10 of oil and gas companies.
“BHP wants to increase the scale of its oil and gas business given that most of its existing energy assets are mature,” said Jason Teh, who helps manage about $3 billion, including BHP stock, at Investors Mutual Ltd. in Sydney. “This acquisition nearly doubles BHP’s resource base.”
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commentaar: Heel slim! BHP is een echte contrarian!
NatGas in de USA ca $4 en in Azië ruim $10, BHP denkt dus dat er een wereldmarkt gaat ontstaan en de USA natgas gaat exporteren.
aos.v wordt weer lekker in elkaar getrapt.....goeie pick!
BeantwoordenVerwijderenALBERTA OILSANDS ANNOUNCES CLOSING OF $5 MILLION OFFERING
BeantwoordenVerwijderen7/15/2011 5:34:31 PM - FND
Calgary, Alberta CANADA, Jul 15, 2011 (Filing Services Canada via COMTEX News Network) --
Alberta Oilsands Inc. (AOS - TSX Venture), ("Alberta Oilsands" or the "Company") (TSXV-AOS) is pleased to announce that it has closed its previously announced prospectus offering of 16,666,600 common shares in the capital of the Company (the "Common Shares") at a price of $0.30 per Common Share for gross proceeds of approximately $5 million.
slecht management om dit op dit moment te doen, ze hebben toch nog genoeg geld in kas?
BeantwoordenVerwijderenUPDATE 2-China's CNOOC to buy Opti Canada in oil sands push
BeantwoordenVerwijderenWed Jul 20, 2011 3:45am EDT
* Deal valued at $2.1 bln including debt
* Deal approved by Opti's board
* Cash payment equal to $0.12/shr (Adds details, quotes)
By Wan Xu
BEIJING, July 20 (Reuters) - China's top offshore oil producer CNOOC Ltd has agreed to buy Opti Canada Inc for $34 million in cash while taking on more than $2 billion in debt in a move that will ramp up Chinese investment in Canadian oil sands.
China has been scouring the globe for energy resources to feed its fast-growing economy, but has often run into regulatory, political and procedural hurdles in getting deals done.
Unconventional energy sources such as shale gas, coal-bed methane and oil sands are attracting increasing attention from China and elsewhere as traditional oil supplies dry up.
"Canada has rich oil sands resources. They have lots of experience in running this kind of project. For CNOOC, they participate in stakes in order to learn the technology and gain operational experience," said Huang Jing, an analyst at Fubon Security Investment Trust Co. "Ultimately they aim to do oil sands projects in China."
CNOOC's move comes amid a flurry of global resource deals as cash-rich companies look to put funds to work. About $22 billion worth of cross border resource deals have been launched in the past two weeks, according to Thomson Reuters data.
The announcement comes a week after Opti filed for bankruptcy protection. Last week, Opti said half of its secured creditors agreed to exchange their notes for a newly issued class of common shares and to invest $390 million into the company.
CNOOC will take over Opti's 35 percent interest in four oil sands projects in the northeast of Alberta. These projects are Long Lake, Kinosis, Leismeer, and Cottonwood, with total proven reserves of 195 million barrels of bitumen.
Nexen Inc , a Canadian-based global energy company, holds the remaining 65 percent of Long Lake, Opti's sole producing asset, and is the operator.
Opti Canada started reviewing its strategic options in November 2009 as it tried to deal with its flagging share value at the time due to the initial production reliably issues at the oils sands project.
Shareholders will receive $0.12 per share in cash, compared with Opti Canada's last traded price of C$0.115 a share. The stock has not traded since July 12 and has tumbled from a peak of C$25.40 in mid-2008.
The transaction includes $1.18 billion payable to holders of Opti's second lien notes, $37.5 million payable to backstop parties and the assumption of $825 million first lien notes, Opti Canada said on Wednesday.
The deal, which is to be effected by a plan of arrangement under Canada's Companies' Creditors Arrangement Act (CCAA), has been approved by Opti's board.
The deal still needs approval from Chinese and Canadian regulators, Canadian court approval and the backing of second lien noteholders.
CNOOC last year agreed to pay $1.1 billion for a stake in a U.S. shale oil and gas field, testing the U.S. political climate for the first time since its 2005 failed bid for Unocal. . It also paid C$122 million in 2005 for a 16.7 percent stake in privately held MEG Energy Ltd, which has been developing an oil sands project in northern Alberta.
Not all China-Canada energy deals have come to fruition.
Encana's C$5.4 billion joint venture shale gas field deal with PetroChina collapsed last month after more than a year of negotiations.
The Opti transaction is expected to be completed in the fourth quarter of 2011. (Additional reporting by Renju Jose in Bangalore; Editing by Lincoln Feast)
-------------------------------------------
Misschien brengt dit weer wat "schwung" in de oliezand-business?
July 20, 2011 11:39 ET
BeantwoordenVerwijderenWesternZagros Increases Prospective Resources to 3.5 Billion BOE's
WesternZagros Resources Ltd. (TSX VENTURE:WZR) ("WesternZagros" or "the Company") reports an increase of over 100 per cent in the combined mean estimate of gross unrisked prospective resources on the Company's Kalar-Bawanoor exploration block ("Block K44") to 2,192 million barrels of oil, or 3,570 million barrels of oil equivalent when oil, gas and condensate prospective resources are included (previously these estimates were 1,092 million barrels of oil, or 1771 million barrels of oil equivalent).
This latest independent audit by Sproule International Limited ("Sproule") addressed the multiple reservoirs in additional prospective areas of the Company's block, which are all located on the Garmian contract area to be covered by the amendments negotiated by WesternZagros, the Ministry of Natural Resources of the Kurdistan Regional Government ("KRG")and a wholly-owned subsidiary of Talisman Energy Inc. These amendments are awaiting approval by Oil and Gas Council of the KRG. The audit included prospects identified with Jeribe, Mio-Oligocene, Shiranish and Eocene reservoirs and two Upper Fars plays. These prospects and plays are potential follow on exploration locations for future drilling consideration. The Company continues to assess the potential of other additional prospects and plays and will continue to release audited results as they become available.
"After this fourth in the series of independently audited assessments, we're encouraged by the continuing rise in resource estimates. The recent oil discovery in the Jeribe Formation at the Sarqala-1 well and the potential in the Upper Fars reservoir at the Mil Qasim-1 well supports the prospectivity of these additional prospects and plays," said Simon Hatfield, WesternZagros' Chief Executive Officer.
Work is continuing on the Sarqala Jeribe contingent resource assessment and remaining prospective resource assessment and will be finalized upon receipt of final test fluid, engineering studies and detailed petrophysical analysis. Preparations are currently underway to secure and install the necessary equipment to undertake an extended test of the Sarqala-1 well. This includes establishing a crude storage and loading facility to permit the transfer and sale of produced oil.
........................................
commentaar: Wat valt hier nog over te zeggen...???
KOPEN, KOPEN, KOPEN.....!!!
Consider moving some cash over to companies that targeted liquid-rich shale
BeantwoordenVerwijderenThere are only two unconventional shales in the U.S. that investors need to buy today.
"Unconventional shales" are critical to the country's energy supply. They hold over 3.8 quadrillion cubic feet of natural gas – about 158 years of U.S. gas consumption.
All that gas is trapped in thin, flat layers of rocks, like pages in a book. The rocks require special drilling techniques to yield up the oil and gas inside. With advances in technology, shale gas producers have made millionaires out of early investors.
Here's the thing: This huge new supply of gas has pushed prices down to painful levels for producers in less attractive shales. They're starting to reduce production, which is going to pinch shareholders. Meanwhile, the best shales are booming...
You can see what I'm talking about in Rigdata's Unconventional Drilling Report. Below, is a table showing that the number of well permits declined in almost all the unconventional shales... but numbers are up in two. Take a look:
Unconventional Shale Location Change In Permits (2nd Quarter 2010 to Present)
Barnett Shale Central Texas -4%
Eagle Ford Shale Southeast Texas +205%
Fayetteville Shale Northern Arkansas-92%
Haynesville Shale Texas / Louisiana-26%
Marcellus Shale W. Virginia / Penn.-24%
Bakken Shale North Dakota +61%
Woodford Shale Central Oklahoma0%
As you can see, there were significant declines in the Fayetteville, Haynesville, and Marcellus shales.
These shales produce mostly natural gas. At the current "wellhead" price (around $3.93 per thousand cubic feet, or "mcf"), companies can't make any money drilling wells. The economics simply don't work.
But, as I said, there are two shales with significant growth: the Eagle Ford and the Bakken.
The Bakken Shale contains mostly oil. With oil prices in the mid-$90s a barrel, producers there are doing fine. But I'm more interested in the Eagle Ford...
The Eagle Ford contains some oil and a larger portion of "natural gas liquids." Natural gas liquids are the non-methane component... think butane, ethane, propane. They have more energy and utility, so they are more valuable...
Natural gas liquids trade at about $45 per barrel. That's a big discount to crude oil, but it's a lot healthier than natural gas: An equivalent volume of natural gas sells for just $23.
Eagle Ford producer Petrohawk, for example, received $3.83 per mcf of natural gas it produced last quarter. But its total revenue was actually $4.70 per mcf, once you add in the oil and liquids. That's the difference between profit and loss. And that's why the company just got bought out for a 60% premium.
As Growth Stock Wire readers know, I'm a long-term bull on natural gas. But if you're heavy into producers stuck in "dry gas" shales, money may be tight for a while.
Consider moving some cash over to companies that targeted liquid-rich shale like the Eagle Ford. Names here include EOG, Chesapeake Energy, and Pioneer Natural Resources.
ABOUT THE AUTHOR
Matt Badiali, Growth Stock Wire
Bericht van Arie verplaatst naar Oliezand-draadje.
BeantwoordenVerwijderenPress Release Source: Africa Oil Corp. On Wednesday August 3, 2011, 4:47 pm EDT
BeantwoordenVerwijderenVANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 3, 2011) -
Africa Oil Corp. ("Africa Oil" or "the Company") (TSX VENTURE:AOI - News; OMX:AOI) is pleased to provide an update on the Company's ongoing exploration activities. The Company has launched a major exploration initiative throughout its East Africa portfolio which includes at least 10 seismic acquisition programs (totaling over 7,000 kilometres), 6 full tensor gravity surveys, extensive environmental studies, acquisition of high resolution gravity and magnetic data as well as geochemical surveys.
Over the next 18 months, a minimum of 7 to 10 wells are planned to test the numerous prospects identified throughout the blocks.
US panel seeks more disclosure on natgas drilling
BeantwoordenVerwijderenThu Aug 11, 2011 11:28am EDT
* Report calls for national database on shale gas
* More data needed to help reassure the public
* State, federal oversight divide needs study-Deutch (Add context and reaction)
By Ayesha Rascoe
WASHINGTON, Aug 11 (Reuters) - A U.S. federal panel sketched out its first vision of a regulatory roadmap for the booming shale natural gas industry on Thursday, urging more transparency on the use of chemicals and more careful treatment of waste water.
In a report closely watched by leading energy companies who fear higher costs from more government oversight, the panel acknowledged that the risk of the chemical fluids used to crack open shale fissures leaking into drinking water was "remote", but offered a host of ways the industry could win greater public trust for the controversial process of "fracking".
The interim report, to be followed by a final set of recommendations in November, appeared to walk a fine line between shoring up regulations in an industry that barely existed three years ago and stepping lightly enough to ensure that the United States has decades worth of cheap domestic gas.
The U.S. Energy Department's natural gas advisory subcommittee urged regulators to:
* overhaul the management of the millions of gallons of water used in the process and an update to rules to fully protect surface and ground water, with state and local governments creating systems to measure water quality prior to shale gas production, to better evaluate the impact.
* require drillers to release more information about the impact of hydraulic fracturing, which is essential to tapping the nation's plentiful shale gas reserves.
* begin measuring methane and other air emissions from shale gas operations.
While companies have acknowledged that a growing public backlash against fracking is almost certain to provoke greater regulation, firms like like ExxonMobil (XOM.N), Chesapeake (CHK.N), Chevron (CVX.N) and Devon Energy (DVN.N), the nation's leading shale gas producers, hope to prevent costly new measures that could render their fields uneconomical.
"The specific thing that we believe industry can do and are on the path of doing is to more consistently and with a greater commitment push for best practices and measuring and disclosing the results of what they're doing in the field," John Deutch, the panel's chairman and the former director of the Central Intelligence Agency, told Reuters in a phone interview.
President Barack Obama, who has been vocal proponent of U.S. natural gas production as a source of cheap and relatively clean fuel, called for creation of the advisory panel to tackle growing environmental concerns about shale gas drilling.
Seeking to balance the nation's energy needs against public opinion, the administration could use the panel's recommendations as a framework to promote safer drilling.
LEACKAGE UNLIKELY
Hydraulic fracturing, or fracking, involves injecting a mix of water, sand and chemicals into rock formations at a high pressures to release oil and gas.
Innovations in the technique have led to an explosion of shale gas development, but the expansion has also prompted public backlash. Environmental groups and some landowners believe that the practice has fouled drinking supplies, making livestock and children sick and tap water flammable.
The panel said it "shares the prevailing view that the risk of fracturing fluid leakage into drinking water sources through fractures made in deep shale reservoirs is remote."
"Nevertheless the subcommittee believes there is no economic or technical reason to prevent public disclosure of all chemicals in fracturing fluids, with an exception for genuinely proprietary information," the report said.
VANOIL ANNOUNCES INDEPENDENT RESOURCE ESTIMATE AND TERMINATES NON BINDING LETTER OF INTENT
BeantwoordenVerwijderen8/9/2011 11:01:04 AM - Market Wire
Vanoil Energy Ltd. ("Vanoil" or the "Company") (TSX VENTURE: VEL) is pleased to announce, an independent assessment of the Company's prospective resources has been completed by Sproule International ("Sproule"). The independent assessment was carried out in accordance with the standards established by the Canadian Securities Administrators in National Instrument ("NI") 51-101 Standards of Disclosure for Oil and Gas Activities. The effective date of the report is May 31, 2011.
Vanoil properties include a 100% working interest in Company operated Production Sharing Contracts (PSCs) in Kenya Blocks 3A and 3B. The Blocks are at the confluence of three Basins, the Anza, the Mochesa and the Lamu containing Jurassic, Cretaceous and Tertiary plays. The Vanoil NI 51 101 report covers the South Anza Basin only which represents approximately one third of the 200 by 110 square kilometres in Blocks A and B combined.
The Sproule report incorporated the results of approximately 2,000 line- kilometre of 1970's vintage seismic shot by Chevron and reprocessed by Vanoil in 2009 as well as 449 line- kilometre of infill seismic shot by Vanoil in 2010. This 5 million dollar program was conducted by the Bureau of Geophysical Prospecting ("BGP") is one of the world's leading geophysical service companies. The chevron 2000 kilometre data contained amplitude anomalies over the leads that were profiled in 2010 with longer spread lengths that confirmed on relative amplitude processing that they were class III Amplitude versus offset (AVO) anomalies. Further chimney analysis of the post seismic attributes indicates sealing faults on some of the leads. A 3D seismic program will be designed targeting the most highly ranked leads which will also be the focus for a 2012 drilling campaign in Block 3A.
2) 3,6 MILJARD BARRELS...!!!
BeantwoordenVerwijderenAs may be seen in the following table, Sproule's Best Estimate of gross unrisked undiscovered petroleum initially in place is approximately 3.6 billion barrels of oil equivalent (MMboe); the associated Best Estimate of gross unrisked recoverable volumes Prospective Resources is approximately 840 million barrels of oil equivalent. The Company cautions that BOEs may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 Mcf: 1bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.
The Sproule assessment identifies twenty seven leads in the South Anza Basin solely contained in Block 3A, the termination rift segment of the Anza Graben which originates in the Sudan. The Anza Graben is the southern extension of the oil prolific Muglad and Melut rift basins of South Sudan. Analogies of the basin with Sudanese oil fields is observed from similar faulting patterns and geochemical analysis of oil recovered from wells in drilled in the Anza Graben.
The Company also reports that it has completed its due diligence and as a result have terminated all negotiations with respect to a previously announced non-binding letter of intent (see press release dated May 26, 2011), with respect to an arm's length business combination.
BGP was contracted to carry out the 2011 Vanoil seismic program in Block 3B in May, 2011. BGP mobilized in June and vibroseis recording commenced on July 5, 2011. Data quality has been very good and progress has been relatively rapid, averaging 8 kilometres per day. Preliminary processing of the data indicates significant structural leads exist in Block 3B that marks the beginning of the Lamu Embayment Basin. At the end of July, more than 50% of the 395 line- kilometre project had been completed. It is anticipated that the project will complete before the end of August, 2011 at a cost of 5 million dollars. At that time the remaining data will be processed which we expect will identify significant new prospective Leads for Vanoil's 100% owned 24,682 square kilometres in Kenya.
De notering van Vanoil is sinds ca 17 mei geschorst geweest vanwege een mogelijke omgekeerde overname van/door een oliebedrijf ergens uit het Midden-Oosten, dat gaat na uitgebreide onderzoeken en na ontvangst van het Sproule-rapport dus niet door. Dat lijkt me ook logisch als je bedenkt dat met een beetje geluk Vanoil een oliebedrijf groter dan bv ATPG ZOU kunnen worden. Ik neem aan dat men nu met gemak grote partners kan vinden (zoals Heritage of Tullow) die de boorkosten gaan betalen.
BeantwoordenVerwijderenLaatste koers 88 cent en market cap = ca 30 miljoen.
Eagle Ford and Bakken Players Forecast to Gain More Than 75%
BeantwoordenVerwijderenAugust 15, 2011 | includes: ASEN.OB, AXAS, CXPO, DNR, MHR, NOG
http://seekingalpha.com/article/287345-eagle-ford-and-bakken-players-forecast-to-gain-more-than-75?source=yahoo
Stockhouse:
BeantwoordenVerwijderenTurns out, lots of positive factors
stargazer10
8/14/2011 1:36:46 AM | | 56 reads | Post #30079265
Vanoils press release states: Vanoil's Kenya properties are at the confluence of three Basins, the Anza, the Mochesa and the Lamu basins. The Vanoil NI 51 101 report, indicating 3.6 billion barrels of oil, only covers the South Anza Basin which represents just one third of the 200 by 110 square kilometres in Blocks A and B combined.
Once the other two thirds of the property have been evaluated, it is very possible that billions of more barrels of oil will be found.
Also, only 32 exploratory wells have been drilled in Kenya. That compares with 480 in East Africa, 14,500 in the west of the continent and 19,000 in north and central Africa, according to data from U.K.- based explorer Afren Plc. This shows that the petroleum reserves in Kenya are untouched and have not been depleated by excessive drilling. With the advanced 2D an 3D immaging available today, it will be possible to find the best sites to drill for oil and any company with large land holdings will end up producing hundreds of millions of barrels of oil, if not more.
Because there has been virtually no drilling, Kenya has no proven reserves. However, South Sudan, which shares a border with Kenya, is sub-Saharan Africa’s third-biggest oil producer and shares similar geology, so it is thought that Kenya will end up being a major oil producer.
And now was the time to be granted a production sharing agreement (PSA) with the Kenya government. In Kenya, once new legislation required under a constitution enacted last year is put into force, there will be tighter restrictions on entrants to the oil and gas industry as lawmakers will have to approve exploration plans. This will mean that any companies that want to participate in drilling for oil in Kenya will have a strong incentive to form joint ventures with companies that already have been granted a PSA, and the companies with the PSA will be able to dictate the terms of the joint venture agreement.
The bottom fell out of the stock price. People were mad about the trading halt and got out as soon as it opened. But those sellers are now gone, and once people start thining about what we have they may start buying again, as long as they trust in the people running the company. Or even if they don't, because of the excellent prospects for a joint venture with a major oil company.
Bedankt voor de links Precies! Heb je zelf 1 van de aandelen?
BeantwoordenVerwijderenHendrik,
BeantwoordenVerwijderenik zit tot m'n nek in de olie, maar de grote jongens uit de link heb ik niet.
Ik heb wel Vanoil, dit aandeel is natuurlijk zeer riskant, maar de winst/risico-verhouding is ongekend, veel beter dan bv Rocksource.
Dit aandeel is nog geheel onontdekt en niet-gehyped en ZOU met een succesvolle boring zelfs groter kunnen worden dan bv ATPG.
Het is te vergelijken met Africa Oil, maar veel kleiner.
Precies, wanneer gaat VEL boren, is er al een indicatie gegeven? Wat betreft de vergelijking Rocksource (twee dry wells, nog twee te gaan komende periode) is Rocksource natuurlijk een stuk verder. Potentie verschilt, zeker als je in grote lijnen naar dat Sproule-rapport kijkt.
BeantwoordenVerwijderenBij een succes van Rocksource (hard gedaald!) is er wellicht nog tijd om te switchen naar VEL.
Jeho,
BeantwoordenVerwijderendat zal nog wel even duren, ik neem aan dat ze eerst een farm-out gaan doen met een groot oliebedrijf.
Dit jaar verwacht ik geen boorresultaten.
WesternZagros hard gedaald. Weet iemand de reden hiervan?
BeantwoordenVerwijderenAnoniem,
BeantwoordenVerwijderenWZ is gedaald om dezelfde onzinnige redenen als bijna alle olie-aandelen. Zelfs RDS is gedaald, maar ook andere grote, zeer succesvolle bedrijven zoals Tullow en Heritage zijn 10 tot 40% gedaald.
Deze lage prijzen zullen zeer zeker een overname-hausse gaan veroorzaken.
Africa oil says secures rig for Kenya drilling
BeantwoordenVerwijderenFri Aug 26, 2011 7:00am EDT
* Spudding of Kenya's Ngamia well in Q4 of 2011
* Says in strong financial position for drilling operations
* Aminex well in Tanzania 89 percent drilled
NAIROBI, Aug 26 (Reuters) - Canadian oil and gas explorer
Africa Oil Corp awarded Weatherford International Ltd a contract for a drilling rig for an exploration well it plans to sink in northern Kenya, with its partners, later in the year.
The exploration firm and its joint venture partners hold exploration licences in Kenya, Ethiopia and Somalia's semi-autonomous Puntland region.
Weatherford, the world's fourth-largest oilfield services company, will drill the rig at the Ngamia exploratoin well within Kenya's Block 10BB, Africa Oil said.
"Spudding of the Ngamia well is slated for the fourth quarter of 2011," it said in a statement late on Thursday.
The company said it had also completed a gross 750 km of 2D seismic data in the Kaisut sub-basin of its Block 9 exploration licence, also in Kenya.
"Newly acquired data is excellent and a number of interesting leads have been identified," Africa Oil said.
"(Africa Oil) is in a very strong financial position and is extremely excited to commence drilling operations and plans to drill seven to 10 high potential exploration wells in the next
18 months," Keith Hill, Africa Oil president and CEO, said, referring to the firm's East Africa activities.
Earlier in the year, Africa Oil said it planned to drill up to eight exploratory wells in blocks it holds interests in across east Africa, two of which will be in the semi-autonomous
Puntland region in Somalia.
The firm also signed a contract for another drilling rig for two exploration wells, which it planned to sink in Africa's Puntland with it partners.
Gas discoveries in Tanzania, and significant proven oil reserves along the border between Uganda and Congo have encouraged interest in the once largely overlooked region.
In Tanzania, Irish oil and gas explorer Aminex Plc which started in mid-June drilling a well -- the Nyuni-2 on Nyuni Island off the country's coast -- said on Friday it had reached a depth of 2,495 metres out of a planned 3,325 metres.
Writing by George Obulutsa;
Christian DeHaemer
BeantwoordenVerwijderenEditor, Energy and Capital
Chinese Vampire Squid
Most people know Kenya for the nation's marathon runners or the great wildebeest migration...
But people like you, who make money from cagey investments, know it for its oil.
Kenya is the only stable country in a region suspected to have the largest untapped oil reserves on earth.
But what you may not know is that across the border in Sudan sit 6.7 billion barrels of proven oil reserves, and they are producing 490,000 barrels a day. Eighty percent of this is located in the South.
But there's a problem...
Comprehensive Peace Agreement
Last month, on July 9, 2011, South Sudan broke off from the North to become the world's 193rd nation.
The problem is that all of the pipelines lead north through Khartoum to Port Sudan on the Red Sea.
According to the Comprehensive Peace Agreement — which ended a twenty-year civil war that resulted in the deaths of two million people — there was to be a fee for transport and handling of the oil. So naturally, the North decided South Sudan should pay $32 a barrel, which is more than triple the going rate internationally.
In other words, until South Sudan can move its oil out some other way, Khartoum has them over a barrel, as it were.
The wild card in all of this is the Chinese.
The Khartoum government has already granted oil blocks to CNPC. According to the Saigon Daily:
President Bashir has granted the China National Petroleum Corporation (CNPC) three promising new petroleum blocs and offered a partnership with the national petroleum company Sudapet in the fields where it operates.
The Middle Kingdom is the biggest buyer of Sudanese oil and the largest military supplier.
The Chinese have a lot to lose if the bickering between the two Sudans interrupts the flow of oil; they are working deals with South Sudan as well.
Enter: Kenya
Kenya is the only stable country bordering South Sudan that also has a port and a refinery.
There are ongoing talks with Japanese investors about a pipeline route from Juba to the Kenyan port of Lamu.
According to the Financial Times:
Toyota Tsusho, the trading arm of the Japanese carmaker, said it was developing plans to build the $1.5bn pipeline, which would run for 1,400km from Juba, the capital of south Sudan, to the Kenyan island of Lamu, where an oil export terminal would be constructed.
Kenya is spending $4 billion to update the port of Lamu and a transportation corridor to South Sudan. This build-out will add to the oil frenzy going on in Kenya — and in East Africa in general.
More infrastructure will lead to more investments in exploration. Already you have the big French oil company Total exploring Block B in the Indian Ocean. London-based oil company Tullow (TLW.L) has bought up a number of Kenyan blocks. Uganda is building a refinery near the two-billion-barrel find at Lake Albert...
All told, there are 14 oil and gas explorers, including Anadarko (APC), Afren (AFR), and Apache (APA), that have leased blocks for exploration.
And yet, Kenya produces no oil at this point — nor has major drilling even taken place.
Make no mistake: The blocks are all sold out and the price of leases is going up.
One company I recommended to readers of my Crisis and Opportunity, Vanoil (VEL), has just turned down a buyout offer after it received its new independent resource estimate.
And no wonder. The independent estimate by Sproule put the amount of oil at 3.6 billion barrels of oil equivalent. At $50 a barrel, that's worth $180 billion! At $100 a barrel it's worth $360 billion
Vanoil has a market value of just $26 million. You can argue about what it's worth, but it's worth more than that.
But you'd better act soon.
As soon as one of these wildcatters hits pay dirt, all of these prices will go up dramatically — road kill giraffes or not.
Good hunting,
Christian DeHaemer
Editor, Energy and Capital
http://seekingalpha.com/article/291603-bakken-three-forks-mid-caps-find-promising-prospects-part-ii
BeantwoordenVerwijderenVANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 17, 2011) - Africa Oil Corp. (TSX VENTURE:AOI - News; OMX:AOI) ("Africa Oil" or the "Company") is pleased to provide an update on drilling operations related to the two-well exploration program in the Dharoor Valley Block, located in Puntland (Somalia).
BeantwoordenVerwijderenDrilling locations have been selected over two robust prospects targeting gross best estimated prospective resources of over 300 million barrels each, based on internal estimates. A contract has been awarded to Sakson Drilling and Oil Services who will provide a 1,500 horse-power, top drive equipped rig. The majority of the drilling-related third party service contracts have been entered into and all outstanding service contracts are expected to be completed before the end of August.
The Company is actively engaged in sourcing drilling related materials and early stage logistics including drill site and ingress route construction. A contract has been signed with a water well drilling company and water well drilling will commence in early September. Mobilization of required personnel and equipment is planned to allow for spud of the Shabeel-1 well during the fourth quarter of this year.
The Puntland Government and Dharoor Valley communities are fully supportive of the drilling project and have ensured they will do all that they can to allow the project to move forward safely and expeditiously.
Please refer to the Company's press release dated August 11, 2011, detailing a proposed transaction whereby the Company will transfer its interests in the Puntland production sharing contracts to Denovo Capital Corp. ("Denovo"). Assuming completion of the transaction and related financing, it is anticipated the Company will own approximately 50% of Denovo. A private placement of CAD$40.9 million has been closed by Denovo subject to final TSX Venture Exchange approval of the transaction which will allow the new combined company to fully fund the upcoming two well program.
Keith Hill, Africa Oil's President and Chief Executive Officer, commented, "We are very pleased to have signed a drilling rig contract and to have procured the required services to allow us to commence drilling operations in Puntland. With support from the local communities and Puntland Government, we are eager to drill the first exploration wells in Puntland in over 20 years, aimed at unlocking the resource potential of the area."
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 6, 2011) - Africa Oil Corp. (TSX VENTURE:AOI - News; OMX:AOI) ("Africa Oil" or "the Company") is pleased to provide an update to its previously announced proposed transaction (the "Transaction") with Denovo Capital Corp. ("Denovo") whereby Denovo will acquire all the issued and outstanding shares of Canmex Holdings (Bermuda) I Ltd. ("Canmex"), Africa Oil's wholly-owned subsidiary.
BeantwoordenVerwijderenThe TSX Venture Exchange (the "Exchange") approved the filing of Denovo's filing statement dated August 29, 2011 (the "Filing Statement") relating to the Transaction and the Filing Statement was filed on SEDAR on September 1, 2011. Denovo has made its initial submission to the Exchange but has not received conditional approval of the Transaction. Africa Oil and Denovo expect to be in a position to close the Transaction in the next few weeks.
Following the completion of the Transaction, Denovo will, among other things, have consolidated its issued and outstanding common shares on the basis of one post-consolidation common share for every 0.65 pre-consolidation common shares, continued into the Province of British Columbia under the Business Corporations Act (British Columbia) and changed its name to "Horn Petroleum Corporation". For further information regarding the Transaction, please see Denovo's press release dated August 11, 2011.
In connection with the Transaction, Africa Oil is pleased to announce the results of an independent evaluation of the prospective resources held by Canmex in the Dharoor Valley and Nugaal Valley Blocks in Puntland (Somalia) ("Resource Report"). The Resource Report, effective June 30, 2011, was prepared for Denovo by Petrotech Engineering Ltd. ("Petrotech") and in accordance with the current guidelines outlined in the Canadian Oil and Gas Evaluation Handbook and National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities. A copy of the Resource Report may also be found under Denovo's profile on SEDAR.
The Resource Report indicates that gross best estimate prospective resource in the Dharoor Valley and Nugaal Valley Blocks, including both prospects and leads, are in excess of 5.2 billion barrels of oil. A summary of Canmex's gross and net share of the unrisked prospective resources (prospects) and the net present values from the profit oil revenue less the un-recoverable amount of funds from the production operation; discounted at 0, 5, 10, 15 and 20% before and after income tax are presented in the table below. The net cash flow is calculated at forecast prices and escalated costs on the prospective resources, to all future time and after deduction of the capital costs, royalties and before and after deduction of income tax. All cash flow data is in U.S. dollars.
The Resource Report indicates that gross best estimate prospective resource in the Dharoor Valley and Nugaal Valley Blocks, including both prospects and leads, are in excess of 5.2 billion barrels of oil
BeantwoordenVerwijderen++++++++++++++++++++++++++++++++++++++
commentaar: Africa Oil verkoopt dus z'n belangen in Puntland in ruil voor een belang van 50% in Denovo.
Alleen dit belang is al goed voor potentieel 2,6 miljard BOE.
wo 07 sep 2011, 10:20
BeantwoordenVerwijderenEx-topman BP koopt olievelden in Irak
LONDEN (AFN) - Olie- en gasinvesteerder Vallares, dat geleid wordt door voormalig bestuursvoorzitter van BP Tony Hayward, neemt het Turkse Genel Energy over. De twee gaan zich richten op olievelden in de Koerdische regio in het noorden van Irak. Dat maakte Vallares woensdag bekend.
Vallares betaalt 2,1 miljard dollar (1,5 miljard euro) in eigen aandelen voor Genel Energy. Daarvoor doet het Britse bedrijf een emissie tegen een koers van 10 pond per stuk. De combinatie gaat verder onder de naam Genel Energy dat de beursnotering van Vallares in Londen zal innemen. Tony Hayward blijft bestuursvoorzitter. De voormalige topman van Goldman Sachs in het Verenigd Koninkrijk, Julian Metherell, wordt financieel directeur.
Het huidige Genel Energy produceert dagelijks 41.000 vaten olie-equivalent per dag en verwacht dat op te kunnen voeren naar 90.000 vaten in 2013. Het bedrijf beschikt over bewezen en veronderstelde reserves van 356 miljoen vaten.
Ex-BP CEO Hayward to Spark Oil Fight in Iraq
BeantwoordenVerwijderenBy Kari Lundgren and Brian Swint - Sep 8, 2011
Tony Hayward’s $2.1 billion deal for oil assets in Iraq’s Kurdistan region may spark a battle for resources from the area as its export prospects brighten.
Vallares Plc, an investment firm led by the ex-BP Plc (BP/) chief executive officer who left the company following the Gulf of Mexico spill last year, announced plans yesterday to buy Genel Energy International Ltd., an oil producer in Kurdistan. Hayward said more assets will likely be acquired in the northern Iraqi region, “one of the last great oil and gas frontiers.”
Gulf Keystone Petroleum Ltd. (GKP) and DNO International ASA (DNO) received the first payments for exports this year as the explorers tapped Kurdistan’s estimated 20 to 25 billion barrels of oil and gas, enough to meet U.S. demand for more than three years. While post-Iraqi war tensions between the government in Baghdad and Kurdish authorities deterred entry by Exxon Mobil Corp. (XOM), Royal Dutch Shell Plc (RDSA) and BP Plc, improved relations and a series of discoveries now may draw them in.
The deal “is part of a growing appetite for Kurdish assets,” said Stuart Joyner, an analyst at Investec Securities. “It’s a new beginning for the Kurdish oil industry. In a few years there will probably be as many players there as in the southern part of Iraq, where Exxon, Shell and BP are involved. Most companies want to participate.”
Kurdistan has 20 billion to 25 billion barrels of “oil in place” and the reserves are unlikely to exceed 40 billion to 45 billion barrels, Natural Resource Minister Ashti Hawrami said at a conference in March last year.
Cheap Reserves
Genel, based in Turkey and set to trade in London as Genel Energy Plc, has proved and probable reserves of 356 million barrels, a figure Hayward said would rise quickly given the exploration potential of licenses it holds. The cost of finding and developing the oil is $2 to $4 a barrel, low compared with other regions of the world, the executive said yesterday.
The deal values Genel’s reserves at $5.90 a barrel, the second-lowest among oil companies on the FTSE 350 Oil & Gas index after JKX Oil & Gas Plc, a producer with assets in the former Soviet Union. Premier Oil Plc’s market capitalization values its reserves at $9.35 a barrel, and Afren Plc, which also has assets in Iraq, are valued at $19.20 a barrel.
Exports Resume
Iraq resumed oil exports from the region earlier this year, ending a yearlong halt caused by a dispute over oil revenue between Kurdish authorities and Baghdad. Kurdistan, a region of ethnic minorities extending into northwest Iran and southeastern Turkey, attracted more than $10 billion in energy investments from more than 40 companies from 17 countries, Kurdistan Regional Government Prime Minister Barham Salih said on May 5.
“Clearly Kurdistan five years from now will be a far more important part of the Iraqi oil industry,” said Bijan Mossavar- Rahmani, chairman of DNO, the first foreign company to start pumping oil from Kurdistan since the 1970s. “The process of smaller players being replaced by or partnering up with larger players” has started as Marathon Oil Corp. (MRO), Repsol YPF SA (REP), Talisman Energy Inc. (TLM) and Hess Corp. (HES) enter the region.
Gulf Keystone and Heritage Oil Plc (HOIL), another London-based explorer with assets in the region, have gained at least 11 percent since the Genel deal was announced yesterday, more than double the 4.5 percent gain in the FTSE oil benchmark.
do 22 sep 2011, 11:46
BeantwoordenVerwijderenCuadrilla claimt enorme Engelse gasvoorraad
BLACKPOOL (AFN) - Het Britse bedrijf Cuadrilla dat in Engeland boort naar schaliegas schat dat daar 5600 miljard kubieke meter gas onder de grond zit. De Britse schaliegasvoorraad zou daarmee tien keer groter zijn dan tot dusver in het meest optimistische scenario werd aangenomen.
Cuadrilla voert proefboringen uit in Noord-Engeland en gaat begin volgend jaar met dezelfde boor aan de slag in Boxtel (Noord-Brabant). Directeur Mark Miller zegt donderdag in de Britse pers dat zijn schatting niet de hoeveelheid is die winbaar is. ,,Het is erg bemoedigend maar we weten nog niet zeker of we het gas hier ook gaan winnen.’’
Het Verenigd Koninkrijk zou meer schaliegas bezitten dan Polen en Frankrijk die tot dusver als het meest veelbelovend werden beschouwd. De geschatte voorraad staat gelijk aan 56 jaar consumptie voor het hele land.
Waarschuwing tegenstanders
Cuadrilla gaat in Nederland tot dusver uit van de aanwezigheid van 481 miljard kubieke meter schaliegas. Tegenstanders waarschuwen dat de voorraad beperkt blijft tot 100 tot 300 miljard kubieke meter.
In Nederland ligt het gebruik op 40 tot 50 miljard kubieke meter gas per jaar.
Worst Oil Industry Slump Since Lehman May Herald Takeovers
BeantwoordenVerwijderenBy Brian Swint - 6 oct 2011
The oil and gas industry’s worst slump since the financial crisis heralds a surge of takeovers for Goldman Sachs Group Inc. and Sanford C. Bernstein Co. as Asia buyers put $150 billion in cash to work.
The market valuation of U.K. and North American exploration company reserves has dropped 23 percent this year to the lowest since 2008, Bloomberg data shows, while Brent crude prices gained 8 percent to $102 a barrel. The dislocation between crude and company valuations is “extreme” and may lead to twice as many deals as usual, Goldman said last month.
Asian buyers may spend $150 billion by 2016 to secure energy resources for their faster-growing economies and targets could include Tullow Oil Plc (TLW), Canadian Oil Sands Ltd. and Kosmos Energy Ltd., according to Bernstein. London-listed Premier Oil Plc (PMO) said it will seek more acquisitions after buying EnCore Oil Plc for $340 million yesterday.
“The valuations are pretty compelling if you believe in $100 oil,” said Christopher Wheaton, who manages RCM Ltd.’s $140 billion Energy Fund in London. “Once the economic uncertainty clears, we should see a pickup in deals. Asia still has the appetite because the security of supply issues haven’t gone away.”
Afren Plc, an explorer in Africa and Iraq, rose 7.7 percent, the most in 11 months, and Tullow increased the most since Sept. 9.
Bowleven, Rockhopper
Explorers that need money for drilling next year may find it hard to get debt or equity funding if economies continues to deteriorate. That may help better capitalized companies looking to buy into projects and fields, Phil Corbett, an analyst at Royal Bank of Scotland Group Plc, said in a Sept. 23 note.
Among U.K.-listed companies, Africa explorer Bowleven Plc (BLVN) may be a target, while Cairn Energy Plc and Heritage Oil Plc (HOIL) have cash to make acquisitions, Corbett said.
Goldman analysts also identified Bowleven as a potential takeover target, as well as Falkland Islands explorer Rockhopper Exploration Plc (RKH) and Canada’s Bankers Petroleum Ltd. (BNK) in a Sept. 21 research note. Bankers Petroleum rose as much as 15 percent in Toronto today, the most since August 2009.
2)
BeantwoordenVerwijderenWhile Brent crude has dropped 13 percent since July, investors forecast prices staying above $90 a barrel for the next two years. That’s 10 percent more than its five-year average compared with the FTSE oil and gas producers’ index and the Standard & Poor’s Oil & Gas Index Exploration & Production Index both trading below their five-year averages.
Worst Since 2008
Global energy shares fell 21 percent in the third quarter, the worst three months since 2008.
The 20-member All-Share index of oil and gas explorers traded in London fell to 7273 last month, or 64.4 times the price of crude futures, the lowest ratio in three years. The benchmark has dropped 16 percent since July, while the U.S. oil index has dropped 30 percent.
The shares of 65 oil and gas explorers traded in London and New York have dropped an average of 21 percent this year, and the value of their reserves has slipped to $14.34 per barrel of oil equivalent from $18.60, the lowest since $9.85 in 2008, according to Bloomberg data.
Companies with fields large enough to be of interest to national oil companies and with assets mostly in one country are the most attractive, Goldman said.
M&A on Hold
The global volume of mergers and acquisitions among oil and gas companies was $47 billion in the third quarter, barely up from the $46.2 billion in the second three months in the year that was the weakest quarter since 2009.
The European sovereign-debt crisis and threat of a U.S. recession have erased more than $9 trillion from global equities since July 1, Bloomberg data show, and the MSCI All-Country World Index has slumped 19 percent during the period. Concern that the global economy will slip back into recession may still hold back transactions.
“There’s a pipeline of deals that have been on hold,” said Christine Tiscareno, an equity analyst at Standard & Poor’s in London. “I don’t think there’s going to be a boom in M&A now, it will just go back to more normal levels.”
Spending on acquisitions may not increase until next year, Wheaton said. Asian buyers may focus on purchasing assets rather than companies, Bernstein said.
U.K., Canadian Targets
The biggest deal of the third quarter was BHP Billiton Ltd. (BHP)’s acquisition of Petrohawk Energy Corp (HK) for $15 billion in July. China Investment Corp. bought a 30 percent stake in GDF Suez (GSZ) SA’s oil gas production and exploration subsidiary for $3.2 billion in August, and Cnooc Ltd. (883), China’s biggest offshore oil producer, agreed to acquire Opti Canada Inc. (OPC) for $2.1 billion to expand in oil sands.
Buyers would favor companies in the U.K. and Canada, which usually have lower exploration premiums built into their valuations and are cheaper in terms of reserves per barrel of oil, Bernstein wrote. These countries, unlike the U.S., also don’t have very strict restrictions on acquisitions by Asian national oil companies, according to the analysts.
To contact the reporter on this story: Brian Swint in London at bswint@bloomberg.net
(Reuters) - A unit of China Petrochemical Corp (Sinopec) has signed a deal to buy Canadian oil and gas explorer Daylight Energy Ltd (DAY.TO) for C$2.2 billion ($2.1 billion) in cash, underscoring China's quest to secure enough energy to power its booming economy.
BeantwoordenVerwijderenChinese buyers have been taking advantage of depressed stock prices and a difficult fundraising environment to make deals. A combination of falling oil prices and debt levels has hit Canadian oil and gas shares in recent months as investors fret that growth prospects are shriveling.
Sinopec International Petroleum Exploration and Production Corp (SIPC) agreed to buy Calgary, Alberta-based Daylight for C$10.08 per share. That is more than double the closing price of C$4.59 per share on Friday, but Daylight said it is only a 43.6 percent premium over the 60-day weighted average trading price.
A key reason for the deal is that Daylight is predominately a natural gas company and China would like to export liquefied natural gas from western Canada, said Neil Beveridge, a research analyst at Sanford C. Bernstein & Co in Hong Kong.
Sinopec Group "will further expand its portfolio in Canada as it advances its international businesses," the company said in a statement on Monday.
Cramer: Oil Services Stocks Look Like the Place to Be
BeantwoordenVerwijderen-------
We are at a really odd juncture where Brent, the real benchmark for oil, has held up better than every commodity in the world, but the companies that own that commodity and merchandise it are trading as if that benchmark is false.
The problem with the market's judgment is simple: The recession in Europe has to be so, so serious as to disrupt the demand everywhere else in the world. But why would that be the case? Why isn't anyone asking that? Why do we accept the market's judgment and not the judgment of the commodity?
To me, this group has gone from conceivably overvalued unless Brent is going to $120 to way undervalued if oil even goes down another $10. What looks good? How about Continental Resources(CLR_), off 11% despite what could be an extremely robust quarter? How about EOG Resources(EOG_), down 14% to $77 after having traded at $120?
--------
http://www.thestreet.com/_yahoo/story/11272644/1/cramer-oil-services-stocks-the-place-to-be.html?cm_ven=YAHOO&cm_cat=FREE&cm_ite=NA
CALGARY , Oct. 11, 2011 /CNW/ - (TSX-V: PFC.V - News) - PetroFrontier Corp. ("PetroFrontier") is pleased to announce that it has successfully drilled Baldwin-2Hst1, Australia's first horizontal well in the Lower Arthur Creek "Hot Shale" Formation in the southern Georgina Basin in the Northern Territory, Australia .
BeantwoordenVerwijderenBaldwin-2Hst1 is located in the southwestern part of EP 103 in the Southern Georgina Basin. PetroFrontier has a 100% working interest in EP 103 and is the operator. EP 103 covers 3.16 million gross acres and accounts for approximately 27.2% of PetroFrontier's net acreage in the Northern Territory, Australia .
The "Hot Shale" formation is comprised of interbeds of shale, silt, sand and carbonate, is slightly radioactive and is easily identified on gamma ray logging tools. The "Hot Shale" is petroliferous, up to 40 metres thick and extensive in area. The "Hot Shale" is geologically and mechanically analogous to major unconventional oil plays in North America such as the Bakken and Eagleford. These unconventional oil plays require the use of advanced horizontal drilling and completion techniques to be economic.
Baldwin-2Hst1 reached a total measured depth ("MD") of 1,948 metres and remained within the main target zone in the Lower Arthur Creek "Hot Shale" for 875 metres while directionally drilling up a regional dip of 1.7 degrees. Positive hydrocarbon indications were recorded along the entire length of the horizontal section, with elevated gas readings and evidence of heavier hydrocarbons present.
"PetroFrontier's long range exploration planning includes accurately defining the regions of oil and gas maturity within the basin to help target our exploration efforts," stated Paul Bennett , CEO of PetroFrontier. "We believe that within our lands the full range of hydrocarbon maturation is present and this will allow PetroFrontier the flexibility to chase the best economics for the play, whether it is pure oil or various mixtures of oil and gas."
Nog een 'mooi' voorbeeld van de idiotie in (olie)aandelen:
BeantwoordenVerwijderenWesternzagros ging ca 3 jaar geleden naar de beurs voor ca 4 CAD en nu ze eindelijk een hele grote vondst gedaan hebben (en nog lang niet uitgeboord zijn), staat de koers op ca 45 cent.
Market cap ca 135 miljoen.
----------------------------------------------------
Targeting over 1 billion BOEs in the next 10
months (includes the Sarqala-1 oil discovery and the next 2 wells)
Audited resource assessment numbers based on recent well results.
2011 exploration wells will be in
formations that have already been drilled
Drilling results support the potential of a
giant oil field WesternZagros’s PSC lands encompass one of the largest exploration areas in
Kurdistan, one of the world’s most exciting
exploration regions Over 3.6 billion BOEs of audited
prospective resources *
The Kurdamir and Garmian Blocks, combined,
form one of the largest (2,120 km2/500,000 acre)
exploration areas in the Kurdistan Region of Iraq
• The Garmian contract area (1,780 sq km) is
operated by WesternZagros, with a 40% working
interest
• The Kurdamir contract area (340 sq km) is
operated by Talisman. WesternZagros also has a
40% working interest
• Liquid hydrocarbons found at both wells drilled to date: 100% success ratio
• Confirmed oil discovery at Sarqala-1 (Garmian Block) extended well test imminent
• Confirmed oil discovery and gas and condensate discovery at Kurdamir-1 (Kurdamir Block) – a potentially giant field, evidence for over 1,900 metres of gross hydrocarbon interval
• Multiple prospects and leads in the Garmian Block
Experienced and Disciplined
• Experienced management and technical teams
• Ability to apply knowledge of the wider region and its exploration drilling risks
• Lessons learned from two challenging wells drilled in the region to-date
• Cost reduction through planning, experienced execution and risk mitigation
http://www.westernzagros.com/documents/CorporatePresentationSept2608H00.pdf
Hi Precies,
BeantwoordenVerwijderenkun je niet lijstje van jouw TOP 5 van huidige Venture aandelen hier aangeven ?
Rekening houden met positieve korte termijn vooruitzichten en (vooral) cashpositie !
Financiering zal tegenwoordig niet meevallen.
En uitgifte aandelen bij de huidige koersen vaak ook niet interessant.
Erg benieuwd !
Precies, Daylight is inmiddels de derde of vierde dividend betalende(voormalige) Canadese Royalty Trust die ik "kwijtraak" door een overname. Als ik me goed herinner, allemaal overnames vanuit Azie. In het artikel wordt over aardgas gerept, maar Daylight is volgens mij ook zo'n beetje de grootste landhouder van Cardium waar we het vroeger wel eens enkele keren over gehad hebben.
BeantwoordenVerwijderenIk dacht, ik laat weer eens van me horen, ik volg je site nog altijd, maar vanwege omstandigheden hou ik me niet actief bezig meer met posten op sites. Hoewel niet over olie, nu ik toch schrijf, de laatste weken ben ik vooral actief geweest met het oppakken van dividendbetalende aandelen in de telecom en nutsvoorzieningen (b.v. KPN, Telefonica, RWE, Veolia), ook olie aandelen zoals WZR en Rocksource (ben het helemaal eens met je opmerking die je ergens maakte, dat op 25 cent (NOK) de risk reward interessant is en wat op het gebied van uranium (Bannerman vanwege nog altijd de mogelijkheid tot overname rond 60 ct, Paladin en ook de grootste speler Cameco). Maar, ondanks een flinke correctie waarvan geprofiteerd kan worden, hou ik de vinger aan de knop, er is veel te verdienen op het moment met kleine oplevingen, maar zoals we al vaker gezien hebben, ook aandelen op belachelijke prijzen kunnen nog veel belachelijker worden onder slechte marktomstandigheden.
SHR,
BeantwoordenVerwijderenik en vele anderen hebben je input erg gemist!
Misschien heb je nog wat kandidaten voor het 'Hoog dividend-draadje'..??
Tot horens.
Anoniem,
BeantwoordenVerwijderenhelaas kan ik je niet helpen met een TOP 5 aan venture-aandelen.
Uit ervaring weet ik dat dat geen zin heeft.
Mijn absolute kampioen verveelvoudiging voor dit jaar is Prophecy Platinum, die plotseling uit de lucht kwam vallen (en die nu weer zeer koopwaardig is).
Je vindt vrijwel al mijn favoriete aandelen op dit blog en je zult dus zelf keuzes moeten maken.
Ik wil nogmaals duidelijk maken dat venture-aandelen zodanig riskant en onvoorspelbaar zijn, dat een porto van 10 tot 20 stuks noodzakelijk is om het risico te spreiden.
Personen die gaan gokken met slechts een paar van die aandelen komen gewoonlijk van een koude kermis thuis.
Tenslotte nog een tip: talloze olie- en gas-aandelen zijn zodanig goedkoop dat je bijna blindelings kunt kopen.
Zolang 'de wereld niet vergaat' kun je met dit soort aandelen op middellange en langere termijn waarschijnlijk heel veel geld verdienen.
Veel succes!
Bowleven finds more oil on Cameroon block
BeantwoordenVerwijderenFri Oct 14, 2011 3:00am EDT
* Finds 11 metres of oil at Sapele-3 well
* Sees reserves upgrade as oil extends beyond mapped area
Oct 14 (Reuters) - British oil explorer Bowleven said it found more oil and some gas at its block off the coast of Cameroon, leading it to flag a likely upgrade in its resource estimates.
The company said on Friday that the Sapele-3 well, the fourth exploration well to be drilled by Bowleven in the Sapele area, found 11 metres of oil in an area which extended further than it had expected, beyond its mapped area.
As a result, Bowleven anticipates a "significant upward revision" to the oil resource estimates for this block and another.
"The results at Sapele-3 represent another step towards our overarching strategy of converting resources to reserves whilst highlighting the extensive exploration potential in the basin," Chief executive Kevin Hart, a former finance director at FTSE 100 oil firm Cairn Energy , said.
Drilling will continue to test deeper parts of the well, the company said, before it undertakes other testing. It also has plans to evaluate a gas and condensate discovery.
Shares in Bowleven, which have fallen by 76 percent in the last three months, lagging the European oil and gas index by 68 percent, closed at 75.25 pence on Thursday, valuing the company at 169.6 million pounds ($267 million).
+++++++++++++++++++++++++++++++++++++
commentaar: dankzij dit bericht staat de koers vandaag bijna 50% hoger.
Zowel de beurswaarde als de bewezen reserves zijn ongeveer gelijk aan Xcite.
Ik verwacht echter op basis van de laatste presentaties, dat de reserves van Bowleven vrij gemakkelijk naar een half of een heel miljard BOE kunnen stijgen.
Bovendien is Bowleven een overname-kandidaat.
Brigham Exploration Company Announces Merger Agreement With Statoil ASA
BeantwoordenVerwijderenBEXP 30.36 0.00
AUSTIN, TX--(Marketwire -10/17/11)- Brigham Exploration Company announced today that the companies have entered into a definitive merger agreement for Statoil ASA to acquire Brigham Exploration Company for US$36.50 per share by means of an all-cash tender offer for all of the issued and outstanding shares of Brigham Exploration Company. The Brigham Exploration Company board of directors has unanimously recommended to its shareholders that they accept the offer.
Bud Brigham Chairman, President and CEO stated: "A bigger enterprise with a larger balance sheet will be better positioned to take advantage of our large and growing inventory of Williston Basin drilling locations and the associated assets. In addition to their very strong balance sheet, Statoil empowers their employees to leverage their impressive technological resources to innovate, matching up very well with our culture and our entrepreneurial technical staff. We are excited to see this transaction completed and look forward to having our assets and employees integrate with the Statoil organization and the substantial asset position that they are growing in their onshore U. S. business."
The tender offer is expected to commence by October 31, 2011. The acquisition is subject to the terms and conditions set forth in the merger agreement, including a condition that at least a majority of the outstanding shares of Brigham Exploration Company are tendered, that the waiting period under the U.S. Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, has expired or been terminated and other customary conditions. If the tender offer is completed, un-tendered shares of Brigham Exploration Company will be converted into the right to receive the same US$36.50 per share price paid in the tender offer. The transaction is expected to close late in 2011 or early in 2012.
+++++++++++++++++++++++++++++++++++++++
commentaar: Brigham was een geheide overnamekandidaat vooral door hun enorme voorspong op het gebied van shale-olie/gas. Er zou dus heel goed nog een hoger bod kunnen volgen.
Vrijwel zeker wil Statoil de enorme kennis van Brigham op het gebied van shale-olie/gas elders in de wereld gaan toepassen.
Dankzij de zeer lage koersen van olie/gas-aandelen is olie-in-de-grond kopen veel goedkoper dan zelf naar olie zoeken, er zullen dus nog talloze overnames volgen.
Ook Royal Dutch zal volgens mij grote overnames gaan doen.
Een heel mooi en goedkoop shale-olie/gas-bedrijf is KOG (Kodiak Oil and Gas), ook dit bedrijf is een geheide overnamekandidaat vanwege hun knowhow en landpositie.
Abu Dhabi National Energy Co. signs deal to take stake in WesternZagros
BeantwoordenVerwijderenBy The Canadian Press | October 17,
CALGARY - Shares in WesternZagros Resources Ltd. (TSXV:WZR) jumped nearly 15 per cent Monday after the Abu Dhabi National Energy Co. signed a deal to buy nearly 20 per cent of the junior Calgary company exploring for oil in Iraq.
WesternZagros shares were up seven cents at 54 cents on the TSX Venture Exchange on Monday morning after the deal was announced.
The Abu Dhabi company known as TAQA will pay $46.6 million or 63 cents per share for 74 million shares in WesternZagros.
WesternZagros owns two production sharing contracts with the Kurdistan regional government in the Kurdistan region of northern Iraq.
"TAQA is an excellent strategic investor for WesternZagros given their proven track record, their support for our direction and their deep knowledge of our operating region," WesternZagros chief executive Simon Hatfield said in a statement.
Under terms of the deal, a representative from TAQA will join the WesternZagros board and the company granted certain rights to participate in future share issues.
The shares acquired under the agreement announced Monday will be subject to a hold period until June 30, 2012.
+++++++++++++++++++++++++++++++++++++++
Commentaar: TAQA grijpt z'n kans en profiteert van de 'idiotie' op de beurs.
Brent-olie stijgt naar bijna 115 USD.
WZR stijgt bijna 30%.
Must-read-artikel over de belangrijkste 'Bakken-aandelen':
BeantwoordenVerwijderen----------------
Nutshell: Right now I am thinking the BEXP deal is pretty much a non-event as mergers go (sorry to see them go, but I mean as it pertains to the peer group) and as such, no change in thinking by me on the rest of the names. We are likely to punt the core position from the ZLT on Tuesday and leave the trading positions added over the Spring and Summer when the group was busy weakening in large part due to weather in the Williston and fear over the global growth environment.
By leaving about half of the position on the table we have limited downside and can participate should a domestic E&P or Major decide to spine up and offer a competing bid in the next few days. It's probably unlikely but I'm not in a great rush to redeploy capital at present except back into other core names at any rate. I may add to our OAS and KOG positions in the coming days if the group decides to settle in a bit with the market. I published a BEXP model last week on the Zman's Energy Brain site that would have been included in a new free report soon, but that is moot now. Tune in later this week for OAS and KOG models.
Disclosure: I am long BEXP, NOG, TPLM, WLL, OAS, KOG.
This article is tagged with: Long & Short Ideas, Long Ideas, Basic Materials, Independent Oil & Gas, United States
More articles by Steve Zachritz »
------------------------------
http://seekingalpha.com/article/300165-brigham-exploration-gets-acquired-implications-for-the-other-bakken-players?source=yahoo
Symbol Price Change
BeantwoordenVerwijderenKOG 5.97 +0.44
David Russell (david.russell@optionmonster.com), On Tuesday October 18, 2011, 12:04 pm
Kodiak Oil & Gas is riding a wave of enthusiasm for shale-energy stocks, and the bulls are going in the money.
optionMONSTER's Heat Seeker monitoring program detected the purchase of about 2,000 November 2.50 calls for $3.40 against open interest of just 70 contracts. The stock was around $5.85 when the trades occurred, so these options were bought in the money .
That means they'll be highly leveraged to movements in the share price, tracking it almost dollar for dollar. If KOG goes up 37 percent to $8, for instance, the calls will appreciate more than 60 percent. (See our Education section)
KOG continued higher after the trades occurred and now stands at $6.03 in midday trading, up more than 9 percent on the session. The company produces oil and natural gas in areas such as the Rocky Mountains and North Dakota.
Investors have been scrambling for exposure to such names recently because new technology is drawing energy from deposits that was previously unavailable. There have been some key acquisitions in the group, including the purchases of El Paso and Brigham Exploration yesterday.
China Energy’s possible Canadian takeover targets
BeantwoordenVerwijderenAmong rumoured takeover targets for Chinese energy companies are the following:
Birchcliff Energy (TSX: T.BIR, Stock Forum) – Birchcliff has a market cap of $1.64 billion, but its current P/E of nearly 400 is astronomical. It apparently put itself on the block for sale last week.
Celtic Exploration. (TSX: T.CLT, Stock Forum) – Celtic is a Calgary-based company holding land all over Alberta. It has a market cap of $2.3 billion. Among Celtic’s properties is 94,240 net acres in the Montney shale play and 84,269 net acres in the Duvernay shale play.
Talisman Energy (NYSE: TLM, Stock Forum) – Talisman would come at a higher price to Chinese companies, with a market cap of $12.58 billion. It also doesn’t look like much of a bargain, selling at a 108.58 P/E ratio. The Calgary-based company does have operations spanning the globe, however, including multiple operations in Southeast Asia with close proximity to China.
Encana Corp. (NYSE: ECA, Stock Forum) – Encana is the largest of the rumored companies with a $14.63 billion market cap, but it’s relatively cheap compared to its peers with a P/E of 20.27. It’s one of North America’s largest natural gas producers and the largest independent natural gas producer in Canada. In June, a proposed joint venture between Encana and PetroChina Ltd. (NYSE: PTR, Stock Forum) worth $5.4 billion fell through. The company may currently be attractive as a takeover target considering its relative bargain price.
China definitely has its sights set on increasing its natural gas consumption to cut down high pollution. It also seems determined to increase its own domestic production.
Because of its hesitation to allow foreign companies access to its reserves, it’s likely that China will continue its buying spree in Canada.
Considering Sinopec paid a 120-percent premium for Daylight Energy, it may be in investors’ best interests to stay tuned to rumours regarding takeovers in the region.
Olie nu weer in backwardation
BeantwoordenVerwijderen25 okt 2011, 16:15 - IEXProfs Redactie
De prijs voor een vaatje West Texas Intermediate (WTI) loopt snel op. Sinds begin oktober steeg de olieprijs al met meer dan 20%, tot het niveau van ruim 91 dollar op dit moment. De oliecurve is daardoor ook radicaal veranderd, en voor het eerst sinds lange tijd – september 2008! - is er weer sprake van backwardation – een situatie waarbij de prijs voor levering nu lager is dan voor levering een maand later (zie grafiek).
Dat laat zien dat er krapte op de markt aan het ontstaan is, analyseert Ole Hansen van Saxo Bank. Dat zat er al een tijdje aan te komen, zegt Hansen, maar omdat de olieprijs anderzijds gedrukt werd door recessieverwachtingen was het er nog niet van gekomen. Nu is het wel zo ver. In die andere oliesoort, Brent, was er al eerder sprake van een krappe markt, maar dat was volledig te wijten aan productie-uitval in Libië.
De stijgende vraag komt vooral door de verbeterende economische vooruitzichten ion China en met name de VS. Het enige vraagteken voor de economie wereldwijd hangt boven Europa, waar het morgen D-Day is. Als er geen oplossing voor de eurocrisis komt, kan dat de Europese economie hard raken en uiteindelijk ook de olieprijs toch weer onder druk zetten.
Voor beleggers in oliefutures is de nieuwe situatie van backwardation gunstig omdat ze een positieve roll yield krijgen als ze hun futures een maand doorrollen. Volgens de technische analyse is WTI ook weer in rustiger vaarwater gekomen met het doorbreken van de weerstand op 91 dollar. De weg ligt nu open naar een prijs van 100 à 105 dollar per vat – tenzij Europa de boel verpest.
Precies, volg jij nog westernzagros? de ceo gaf enkele maanden een interview waarbij hij aangaf dat wzr over zo'n 800 MMBBL zou beschikken (=40% psl), ' gross unrisked prospective resources' dus niet proven etc. Hij gaf aan dat $2 per barrel werd betaald bij overnames. Ik weet alleen niet of dat dan proven was, maar hiermee wilde hij aangeven dat wzr in potentie $1,6 bilion waard zou kunnen zijn. Lijkt een interessante play, maar wel een behoorlijk politiek risico. Overheid moet nog over een wet stemmen waarbij de productie omhoog mag, bovendien weet je nooit wat daar in die regio kan gebeuren en de us trekken weg uit irak. Wel is het zo dat er steeds meer wordt geinvesteerd, met name door internationale oliebedrijven. Gelukkig ontvangt de regionale overheid 20% van de toekomstige productie/ontvangsten bij wzr; laat ze maar mee profiteren, is altijd beter.
BeantwoordenVerwijderenJehova,
BeantwoordenVerwijderenblijkbaar heb je wat gemist: op 11 en 17 okt heb ik nog berichten over WZR geplaatst.
En die 800 M BOE is eerder een minimum dan een maximum.
Tullow Oil says sees 100,000 bopd in 2012
BeantwoordenVerwijderenCAPE TOWN | Wed Nov 2, 2011 5:15am EDT
Nov 2 (Reuters) - British oil exploration and production firm Tullow Oil said on Wednesday it was aiming to lift output to 100,000 barrels of oil per day (bopd) in 2012 from around 75,000 currently.
Tullow's vice president for African business Tim O'Hanlon outlined this target in a presentation to the Africa Upstream conference which is part of Africa Oil Week in Cape Town.
Tullow, which has extensive interests across Africa, said earlier in the week that it had signed a deal with Mauritania and its partners that will enable it to take charge of the development of three oil and gas discoveries made off the coast of the west African country.
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commentaar: Tullow is wel een heel erg aantrekkelijke hap geworden voor de grote oliebedrijven met zo'n (begin)productie en vele miljarden BOE als reserves.
Bakken Update: Small Caps, Part VII
BeantwoordenVerwijderenNovember 2, 2011 | includes: BEXP, CLR, EOG, ERF, KOG, PBKEF.PK, RPTTF.PK, SSN, TPLM, WLL, WMB
Michael Filloon heeft een voor Bakken-liefhebbers onmisbare reeks artikelen geschreven:
http://seekingalpha.com/article/304319-bakken-update-small-caps-part-vii?source=yahoo
Shale-Gas Reserves Have Potential to Reignite U.S. Economy
BeantwoordenVerwijderenBy Paul M. Barrett - Nov 3, 2011 5:00
In late 1998, Chesapeake Energy Corp. (CHK), an independent natural-gas producer based in Oklahoma City, exemplified an industry in decline.
The company’s stock price had fallen over two years from above $34 a share to 75 cents. Its market value tumbled 93 percent, to $72 million. “They’re running up a down escalator,” Michael Spohn, an analyst at Petroleum Research Group, said.
When Aubrey K. McClendon, Chesapeake’s chief executive officer and co-founder, announced he might sell the company, there was little interest, Bloomberg Businessweek reports in its Nov. 7 edition.
Falling gas prices had reduced the value of Chesapeake’s reserves from $2.1 billion to $661 million. “We’d had higher highs than others in the industry; then we had lower lows,” McClendon said with characteristic insouciance. “In this business, it’s good to have a short memory and thick skin.”
Good thing he didn’t sell. Thirteen years later, Chesapeake’s market value exceeds $18 billion. Its shares sell for about $28, up 8 percent this year. The company’s 120-acre neo-Georgian corporate campus bustles with construction crews building new office space. Its workforce has grown 30 percent in a year, to 12,200, and its recruiters have 700 jobs to fill. “The United States,” McClendon boasts, “has the capacity to become the Saudi Arabia of natural gas.”
etc, etc,
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commentaar: dit artikel is veel te lang om in z'n geheel te plaatsen, maar is absoluut 'verplicht' voor mensen die belangstelling hebben voor shale-gas.
http://www.bloomberg.com/news/2011-11-03/shale-gas-reserves-have-potential-to-reignite-u-s-economy.html?cmpid=yhoo
November 4, 2011
BeantwoordenVerwijderenA New Stage in U.S. Shale Gas Development
by Dr. Kent Moors
Dear Oil & Energy Investor,
Yesterday, Chesapeake Energy Corp. (NYSE:CHK) announced that it was completing two land-leasing deals - on property in the Utica Shale basin - worth as much as $3.4 billion.
Chesapeake will bring in an "international major energy company" to jointly develop some of its Utica acreage. The company is not naming the major, but says the deal should be completed next month.
This marks the beginning of a new stage in shale gas development.
Chesapeake, as you know, is the second-largest natural gas producer in the country - after Exxon Mobil Corp. (NYSE:XOM) - and by far the largest independent.
Earlier this year, the company announced that it valued the land it controls in eastern Ohio at $20 billion. That set off a flurry of activity in the region.
See, the Utica is somewhat special.
It is an ultra-deep shale formation. Its producing regions in eastern Ohio and western Pennsylvania lie below the Marcellus - at depths of 12,500 feet and more. And as a concave-structured basin, the Utica grows closer to the surface as you move into central Michigan, but the anticipated volume extractable also declines.
Because it is so deep, it is far more expensive to develop than shallower shale plays.
The average Utica well costs more than $8 million to drill, as compared to about $3 million for a "normal" shale play.
However, it also carries some major potential advantages:
For one thing, this is dry gas. That means there is far less processing expense involved than with "wet" gas - volume that has other constituents (some value-added) that need to be separated from the main gas flow.
Second, the "pay zones" (the strata in which the hydrocarbons actually sit) are wider than in higher drilling locations. It is more expensive to reach the deeper level, but there is more target volume once you reach it.
Additionally - and this is one of the primary attractions of dry volume - there is also the potential for significant crude oil in the pay zone, along with the gas. That boosts the profitability and makes higher costs well worth the trouble.
In some ways, the Utica shale is the perfect stage for what's coming.
5 Stocks Poised To Increase Profits In 2012
BeantwoordenVerwijderenNovember 9, 2011 | includes: ATPG, CSCO, F, GMXR, SD
As investors, we need to be sure than the companies in which we invest are true moneymakers. Above all else, the true value (and success) of a business will be determined by its ability to generate cash. Take a look at the companies below that seem poised to increase profits into next year.
ATP Oil and Gas Corp (ATPG) is well positioned to make serious cash into 2012. ATPG is an exploration and production (E&P) based in Houston, TX, and operates primarily in the Gulf of Mexico, the United Kingdom, and Dutch territories of the North Sea. This business has a small market capitalization of $534 million, but it has nearly $200 million in cash. Additionally, the 2010 oil reserve estimates of ATPG totaled 126 million barrels. Into 2012, if oil traded at $100 a barrel (not an unreasonable prospect) the reserves of ATPG could be valued conservatively at $10 billion.
ATPG is highly leveraged, but it is clearly comfortable with the associated risk. It has made bigger bets on the value of its reserves and the future of the natural gas industry than most of its competitors like Chesapeake Energy Corporation (CHK) and Forest Oil Corp (FST). But in this business, it pays to make big bets. If high oil prices endure, and ATPG is able to make it out of this cycle before its debt sinks the business, it will make more money than any of its competitors. Look for the announcement of its 3rd quarter results on November 9th, 2011.
Let’s take a look at another independent oil and natural gas player – Sandridge Energy, Inc. (SD). I believe 2012 will be a good year for this business, should the price of oil trend higher. It has over 500 million proven reserves of oil and natural gas, of which nearly half are oil plays. The reserve estimates are promising, but it’s more important to note that SD is already making serious cash. It has royalty interests in more than 5,000 producing wells, and it has at least 24 wholly owned wells producing across Texas, and Mississippi.
SD is on the up and up. Year over year, its earnings have increased nearly 300%. I prefer the positioning of SD to a business like Brigham Exploration Company (BEXP), a natural gas operator that trades at 50 times earnings. Many of these independent oil and gas businesses have a critical advantage that the large energy corporations do not-- mobility. SD can move toward producing its oil reserves in periods (like now) when natural gas is at a multiyear low. Larger corporations do not have this flexibility.
SD CEO Tom L. Ward told investors on a recent conference call that the business is well on its way to executing a 3-year objective to triple its EBITDA, double its oil production operations, and reduce its debt to earnings before interest, taxes, depreciation and amortization (EBITDA) by half. Into 2012, SD intends to begin operating 26 new rigs. Into 2012, the company stands to increase its operating income significantly. The moral of this story is that SD knows what it is doing. Its headquarters are in Oklahoma City, and the men running this shop have a tight grip on the operating income of the business. I like this business, but it will need to figure out how to distribute money to its shareholders to attract proper investor attention.
2)
BeantwoordenVerwijderenAnother Oklahoma independent energy company, GMX Resources, Inc. (GMXR) is also poised to realize high profits into next year. It has proved reserves of more than 300 billion cubic feet of natural gas in the Bakken Shale, Haynesville Shale and Cotton Valley Sand Formation in East Texas. It’s no secret that the United States has plenty of natural gas. Discovering the practical application for this resource (besides heating our homes and stoves) remains the million - or billion! - dollar question. If the price of natural gas starts moving north, GMXR will reap tremendous benefits. It currently trades at $1.89, down from its 2008 high of $70 per share. Instead of a business like Cabot Oil and Gas Corp (COG) that trades at 60 times earnings, I’d rather bet on an emerging business like GMXR that has tremendous upside potential.
I like the fact that GMXR is a family business. The Chairman, Ken L. Kenworthy Jr. is the son of the founder and director, Ken L. Kenworthy Sr. The people at the helm of this company are intimately aware of its operations in ways of which no one else is privy. This business is headed toward a year of great earnings, but it is still unclear whether or not GMXR can create value for its shareholders.
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http://seekingalpha.com/article/306478-5-stocks-poised-to-increase-profits-in-2012
Exxon oil deal with Kurds shakes Iraq
BeantwoordenVerwijderenExxon Mobil’s oil and gas exploration agreement with Iraq’s semi-autonomous Kurds, who’re at odds with Baghdad over the country’s energy wealth, marks a significant, and tantalizing, departure by U.S. oilmen amid the current military withdrawal.
The breakaway move into Kurdistan, the first by any of the oil majors operating in Iraq under 20-year production contract signed in 2009, could cost Exxon Mobil its stake in the giant West Qurna Phase One mega-oil field in southern Iraq.
The field contains an estimated 8.7 billion barrels of oil and is a vital component in the government’s plans to quadruple oil production from the current 2.9 million barrels per day — an increase of 1 million bpd over the pre-2003 U.S. invasion level — by 2017.
That’s one of the most important contracts in Iraq and the American move could signal a possible major shakeup in the country’s all-important energy industry on which all hopes of national reconstruction are pinned.
Given the political intrigues endemic in Baghdad and Erbil, the Kurdish capital, the parameters and possible consequences of the Exxon Mobil-KRG deal remains unclear.
But there are clear political elements involved. The U.S. withdrawal is expected to exacerbate a long-running dispute between the central government and the independence-minded Kurds over oil rights.
The federal government claims sole authority over the energy industry anywhere in Iraq.
The KRG, guided in part by American advisers, has signed controversial deals with some 40 small oil companies, mainly U.S. and European wildcatters unable to bid on the major contracts, since 2006 as it seeks to build an oil industry independent of Baghdad.
The Kurds say their enclave could contain as much as 45 billion barrels. Iraq’s overall reserves are pegged at 143.1 billion barrels.
The central government deems all oil contracts signed with the KRG, which runs the Kurdish enclave that spans three of Iraq’s northern provinces, without Baghdad’s approval to be illegal.
“The Kurdistan region has a lot of untapped oil and every IOC would sign deals if they got a green light to do so from Baghdad,” one industry source commented.
An oil law to regulate the industry and revenue-sharing has been hung up in Iraq’s fractious Parliament since 2007, intensifying Kurdish frustrations.
2)
BeantwoordenVerwijderenThe Middle East Economic Digest reports that Kurdistan’s reserves are beginning to attract international oil companies, or IOCs, “which are becoming disillusioned with prospects in the rest of Iraq.”
However, MEED said no deals “would be ratified or made public until a formal deal is signed between the government in Baghdad and the KRG regarding new oil discoveries.”
So it seemed odd to find that the whistle-blowing on the Exxon Mobil agreement came from Michael Howard, a top adviser to the KRG.
“The KRG has for the last few months been in discussions with a number of major oil companies,” he said. “This resulted in the recent signing by Exxon Mobil of contracts to explore in six blocks.”
Abdul Mahdy al-Aneedi, head of the Oil Ministry’s contracts and licensing directorate, said Baghdad had been aware of the talks and had warned Exxon Mobil any deal with the KRG could mean “termination of the West Qurna contract.”
Only a month ago, Iraqi Prime Minister Nouri al-Maliki‘s top energy adviser, Thamer Ghadhban, said Exxon Mobil, along with BP and Italy’s Eni, would invest $100 billion to upgrade West Qurna and two other southern superfields, Rumaila and Zubair.
Production at these fields has increased to around 2 million bpd, most of Iraq’s current total. Under the 2009 contracts, production there should hit 6.8 million bpd by 2017.
Exxon Mobil, like other majors, had to accept a take-it-or-leave-it Iraqi offer of a $2 per barrel payment to secure the crucial 2009 contracts.
That’s one of the lowest rates on the world and Baghdad has made clear that won’t change.
This has embittered most of the big companies like BP, Royal-Dutch Shell and Exxon Mobil.
Relations have been worsened by political in-fighting in Baghdad that has held up contracts and project work while the government presses for higher production.
U.S. companies had been expected to the big winners in Iraq after Saddam Hussein was toppled. But Americans were widely perceived by Iraqis as occupiers, and only one of the 11 fields up for auction went to an American major. UPI
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commentaar: dankzij dit bericht spoten de meeste Kurdistan-olie-aandelen met vele tientallen procenten omhoog.
Shaikan Discovery: P90 volumes increase from 4.9 billion barrels to 8 billion barrels
BeantwoordenVerwijderenGulf Keystone Petroleum Ltd. (AIM: GKP) today announces a major upgrade of the gross oil-in-place volumes for the Shaikan discovery in the Kurdistan Region of Iraq.
The revised gross oil-in-place volumes for the Shaikan discovery, as calculated by Dynamic Global Advisors (DGA), independent Houston-based exploration consultants, are a P90 value of 8 billion barrels to a P10 value of 13.4 billion barrels of oil-in-place with a mean value of 10.5 billion barrels.
This is the second very significant upgrade of the Shaikan resources estimates in 2011 and it revises the previously announced range of 4.9 to 10.8 billion barrels of gross oil-in-place with a mean value of 7.5 billion barrels. This upgrade is based on the data acquired since the last resource evaluation of the Shaikan discovery by DGA issued in April 2011 and is a third successive upward revision by DGA since the Shaikan discovery was announced in August 2009.
DGA's conclusions are based on the new data acquired as a result of:
· Preliminary results from the Shaikan-4 appraisal well, which is currently being drilled 6 km to the west of the Shaikan-1 discovery well to an expected total depth of 3,400 meters and will be followed by an extensive testing programme
· Results of the processing and interpretation of the 3D seismic data acquired for the Shaikan (599km²) and Sheikh Adi (215km²) blocks, including an indication of a larger Shaikan structure (by 5-10%) than originally mapped based on the earlier 2D seismic data· A new Triassic discovery made with the Shaikan-2 appraisal well in the Kurre Chine C zone and a subsequent testing programme of the well, drilled 9 km to the south-east of the Shaikan-1 discovery well, in the Triassic (Kurre Chine B) and Jurassic (Butmah), which is still ongoing
· Shaikan-1 and Shaikan-3 extended well test production
This upgrade of the Shaikan mean oil resources from 7.5 to 10.5 billion of barrels of gross oil-in-place is a result of the increase in the lowest known oil areas for each reservoir. DGA's latest estimates are an evidence of the progressive evolution of the understanding of the Shaikan field and of the increased certainty in the continuously improving resource estimates.
Gulf Keystone is the Operator of the Shaikan block with a working interest of 75 per cent and is partnered with Kalegran Ltd. (a 100 per cent subsidiary of MOL Hungarian Oil and Gas Plc.) and Texas Keystone Inc., which have working interests of 20 per cent and 5 per cent respectively.
John Gerstenlauer, Gulf Keystone's Chief Operating Officer, commented:
"Once again, the Company's management and Board of Directors are delighted to validate our world-class discovery at Shaikan in the Kurdistan Region of Iraq. This third successive upgrade of the Shaikan gross oil-in-place range by Dynamic Global Advisors is a new step towards completing our understanding of this exceptional asset. The process of assessing Shaikan started on 6 August 2009, when we announced our first significant discovery in Kurdistan. This assessment is far from being concluded as we have just spudded Shaikan-5 and prepare to drill Shaikan-6 in early 2012.These additional appraisal wells will provide us with valuable information about the flanks of the massive Shaikan structure, while the Shaikan-7 well will target the Permian, the deepest undrilled horizon of the structure. The Shaikan appraisal programme is being completed in parallel with the ongoing work on the Shaikan Field Development Plan."
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commentaar: het gaat hier om onvoorstelbare bedragen: als GKP slechts een tientje overhoudt per barrel, dan krijgen nog ze ca 80 miljard........
Precies, nog enig idee/verwachting van Alberta Oilsands (AOS). Heeft me intussen klauwen vol geld gekost, dat kreng blijft maar dalen op weinig/gemiddeld volume. Bij een crude oil prijs van 80 stonden we nog aan 0,22, nu crude oil bijna op 100 en we staan op 0,17.
BeantwoordenVerwijderenNu lees ik op Stockhouse dat het wachten is op de pilot?? wat wordt hier precies mee bedoeld, volgens AOS zelf wordt deze eind 2011 verwacht.
Verder lees ik op de website van AOS dat ze de waarde per aandeel aos.v zelf schatten op meer dan 3 dollar ????? Is de markt dus gek of klopt hier iets niet?
Alvast bedankt voor je antwoord.
gr
Arie
Arie,
BeantwoordenVerwijderenje vraag is verplaatst naar het Oliezand-draadje.
Enbridge buys into pipeline; to reverse flow
BeantwoordenVerwijderenConocoPhillipsagreed to sell its 50% stake in the Seaway Pipeline to Enbridge for $1.15 billion, a move intended to result in a reversal of the pipeline's flow and to help reduce a glut of crude trapped in the center of the U.S. Calagary-based Enbridge will buy the 350,000 barrel-a-day Seaway, currently running from Cushing, Okla., to the U.S. Gulf coast, in a deal expected to close in December. Enbridge and Enterprise Energy Partners LLP , the pipeline's other 50% owner, said they plan to then reverse the flow to bring light, sweet crude oil from Cushing to Gulf Coast refiners who have been clamoring for it.
U.S. crude oil futures prices surged over $101 a barrel for the first time since July early Wednesday after the news. For months, U.S. oil prices have been depressed as inventories have swelled at the oil transport hub of Cushing because of lack of ways to move it to markets. The pipeline reversal could significantly reduce that bottleneck, as early as early next year.
***************************
Conclusies:
1) op termijn gaan de olievoorraden in Cushing afnemen
2) de WTI prijs zal dus gaan stijgen
3) de winsten van oliebedrijven die in Canada actief zijn zullen hiervan gaan profiteren
4) de 'depressed oil prices' zie ik niet; ze zijn nu al vrij hoog - WTI is ca. $ 100
Tweetie,
BeantwoordenVerwijderenkun jij eens uitleggen wat er precies met die pijpleiding aan de hand is, de tekst in bovenstaand artikel lijkt ook niet te kloppen.
Ik begrijp zowiezo niet waarom ze nu nog olie zouden vervoeren naar een plek, waar teveel olie is.
Independent Review Increases Nido's Prospective Resources Estimates
BeantwoordenVerwijderenTue, Sep 13, 2011 5:25 AM EDT
Symbol Price Change
NDO.AX 0.044 -0.00
SYDNEY, Sept. 13, 2011 /PRNewswire/ -- An independent report has increased Nido Petroleum Limited's ("Nido", ASX: NDO) prospective resources in the Company's NW Palawan Basin, Philippines exploration portfolio.The report was completed by DeGolyer and MacNaughton (D & M). Gross prospective original oil in place resources (OOIP) is estimated to be 24 billion barrels for the top 20 prospects in the Company's exploration portfolio at 31 March 2011. This is a large increase on the Company's May 2008 statement on its gross prospective original oil in place resources (OOIP), which was estimated at that time to be 11.8 billion barrels based on the Company's entire Prospect and Lead Inventory.The increase reflects the considerable maturation of the Company's Prospect and Lead inventory since 2008 which has benefited from the acquisition of further 2D and 3D seismic data and detailed prospect generation across its extensive NW Palawan basin acreage portfolio.The prospective resource estimates presented in the D & M report have been reported in accordance with the Petroleum Resource Management System (PRMS). The PRMS reporting system provides uniform guidelines for the evaluation and reporting of petroleum reserves and resources. A copy of the full report prepared by D & M on behalf of Nido is available at: www.nido.com.au D & M is an international consulting firm with offices in the United States of America, Russia and Canada, and specialises in the evaluation of reserves and resource estimates for major petroleum companies, governments, financial institutions and the investment industry. About Nido Petroleum LimitedNido Petroleum Limited is a Philippine focused oil and gas company with a dominant position in the offshore North West Palawan Basin, Philippines, holding a net acreage position of 14,641km2. The Company participates in Service Contracts 6B, 14, 54, 58 & 63 in an operator and non-operator capacity, covering a mix of shallow and deep water exploration acreage, pre-development opportunities and producing assets.
vrijdag 18 november 2011
BeantwoordenVerwijderenDe makkelijke olietrade
Peter van Kleef | 10:45 - IEX
De olieprijs blijft hoog en onstabiel als gevolg van de onrust in de Arabische wereld op de korte termijn en de trends in vraag en aanbod op de lange termijn. stelt Allianz Global Investors in een nagelnieuw rapport. De vraag naar olie stijgt - vooral vanuit de opkomende landen - terwijl het aanbod slechts mondjesmaat toeneemt. Enkele decennia van te weinig investeren zijn daar mede schuld aan. Ondanks grote investeringen in de afgelopen vijf jaar, is de productie buiten de OPEC-landen slechts met 2 miljoen vaten per dag gestegen.
De dagelijkse vraag zal in 2012 stijgen tot boven de 90 miljoen vaten per dag. De olieprijs zal dit jaar volgens Allianz GI - en in 2012 - blijven bewegen tussen de 90 en 110 dollar per vat. Deze bandbreedte zal vanaf 2013 met 10 dollar per jaar stijgen door de kostenstijgingen in de olie-industrie en gestaag oplopende vraag. Kijk, dat zijn lekker makkelijke rekensommetjes voor luie beleggers.
In 2040, als ik met pensioen ga en de olieprijs tussen de 370 en 390 dollar per vat kost, ga ik mijn turbootjes long maar eens verzilveren... :-)
@Precies,
BeantwoordenVerwijderenDe vorige eigenaar van de pijplijn (ConocoPhilips) had nogal wat raffinaderijen in de buurt en kon z'n marges met de lagere WTI prijs wat opkrikken.
Het volgende artikel geeft een goed overzicht: http://www.econbrowser.com/archives/2011/11/implications_of_1.html
di 06 dec 2011, 09:04
BeantwoordenVerwijderen'Omvang wereldeconomie verdubbeld in 2040'
DOHA (AFN) - Het Amerikaanse olieconcern ExxonMobil verwacht dat de wereldeconomie tussen 2010 en 2040 meer dan verdubbelt in omvang. De wereldwijde energievraag groeit in die periode met meer dan 30 procent. Dat heeft topman Rex Tillerson dinsdag gezegd op een olieconferentie in Doha.
Royal Dutch Shell A 06-12-2011 (16:19)
26,47 EUR +0,59% +0,155
Volgens Tillerson is de groeiende energievraag positief omdat die zal leiden tot economisch herstel en vooruitgang. De economische groei zal volgens hem worden gestuwd door de sterke bevolkingsgroei, toenemende handel, technologische vernieuwing, nieuwe economische mogelijkheden en stijgende levensstandaarden in met name opkomende landen.
Geloof jij dat de wereldeconomie met meer dan 100% kan stijgen en de energieconsumptie met maar 30%? Ik geloof niet in zulke energie efficiency.
BeantwoordenVerwijderenVolgens mij lopen groei van de economie en groei van de energieconsumptie aardig in de pas. zie bv deze grafiek van The Oildrum: http://www.theoildrum.com/files/World%20Total%20Energy%20and%20Real%20GDP.png
Dus mijn stelling zou zijn dat de economische groei in de toekomst beperkt zal worden door de beschikbare energie. Dus als die plus 30% klopt, geeft dat dus zo'n 20-40% economische groei.
Whiting says Bakken well costs to drop
BeantwoordenVerwijderenWed Dec 7, 2011
* Costs to drop to $6.5 million per well - CEO
* Three new sand mines to come online by 2012
* Bakken drilling days reduced to 16
NEW YORK, Dec 7 (Reuters) - Well drilling and completion costs in North Dakota's Bakken prospect will likely drop in the coming years because of better design, new drilling technology and new sand mines, an executive with Whiting Petroleum said on Wednesday.
The cost of new wells will drop from the current $8.3 million per well to $7.3 million and later to $6.5 million, James Volker, CEO of Whiting, one of the major exploration companies operating in the Bakken, said in an address to a Wells Fargo conference.
This is down from the $10 million Whiting spent on each well when it started drilling in Bakken's Sanish Fields, he added.
Volker said his company has reduced the number of drilling days in a Bakken well, which boosted cost reductions.
"We drill wells on paper," he said referring to gains made during the design phase.
Analysts say it now takes 15 to 16 days to drill a well in the Bakken prospect, half as long as it took a year ago.
Bakken costs had escalated in recent months due to a shortage of the sand which is used in the hydraulic fracturing process to keep well fractures, or fracks, open.
Regional suppliers say the cost of sand has doubled in recent months to 40 cents per ton.
This is a problem Volker says is nearing its end as he expects three major sand operations to come online in the region by the end of 2012.
The Bakken shale prsopect pushed North Dakota's oil production above 464,000 barrels per day in September.
Olie-empire strikes back
BeantwoordenVerwijderenDoor Jan-Willem Nijkamp op 16 dec 2011
De Verenigde Staten zijn een supermacht op retour. Het adembenemend snel groeiende China zal binnen enkele decennia of wellicht zelfs eerder de rol van dominante economische macht overnemen. Dat is althans de heersende opvatting onder economen en opiniemakers. Maar recente ontwikkelingen in de olie- en gasindustrie zetten die visie op losse schroeven.
Sterker nog, ze zullen de wereld zoals we die nu kennen volledig op zijn kop zetten. Om dat te begrijpen moeten we even terug in de tijd. In 1956 zag de Peak oil-theorie het levenslicht. M. King Hubbert voorspelde dat de olieproductie in de VS begin jaren '70 zijn piek zou bereiken om vervolgens te gaan dalen.
Hij kreeg gelijk. Vanaf 1971 daalde de olieproductie van de VS onafgebroken. Het land werd steeds afhankelijker van voornamelijk uit het Midden-Oosten geimporteerde olie. Het was ook in dat jaar dat President Nixon de dollar loskoppelde van het goud.
VS zit niet stil
Naarmate de olieverslaving van de VS toenam stegen de steeds duurdere olie-importen uit vooral het Midden-Oosten. De wereld werd overspoeld met dollars. Het Amerikaanse tekort op de betalingsbalans liep op en nam ongezonde vormen aan. De dollar daalde in de afgelopen 40 jaar met meer dan 90%.
De enorme olieverslaving en het gierende tekort op de betalingsbalans gelden al decennia als de twee zwakheden die de economische kracht van de VS ondergraven en de wereldeconomie uit balans brengen. De olie-import veroorzaakt maar liefst 44% van het tekort op de betalingsbalans.
Maar terwijl wij in Europa druk bezig zijn met het vinden van oplossingen voor een crisis, die we zelf hebben gecreëerd, zit men in de VS niet stil. Nieuwe boortechnieken en een ware aardgasrevolutie zullen eraan bijdragen dat de VS Saoedi-Arabië en Rusland als grootste energieproducenten voorbij gaan streven. En dat nog in het huidige decennium.
2)
BeantwoordenVerwijderenLage energieprijzen
Zo bestond tien jaar geleden nog maar 1% van de Amerikaanse gasvoorziening uit schaliegas. Nu is dat reeds 30% en zijn er reserves voor meer dan 100 jaar aangeboord. En zo heeft horizontaal boren de afhankelijkheid van buitenlandse olie gereduceerd tot tien miljoen vaten per dag. En volgens Citigroup zullen dat in 2020 niet meer dan drie miljoen vaten per dag zijn.
Tegen die tijd zullen de VS alleen nog olie importeren uit Mexico en Canada. En dat zijn voor de VS aanmerkelijk vriendelijker staten dan bijvoorbeeld Iran. Deze olie- en gasboom heeft inmiddels reeds een half miljoen nieuwe banen gecreëerd. De prijs van aardgas is in de VS nog maar de helft ten opzichte van drie jaar geleden.
Onder de voorwaarde dat de VS hun olieverslaving onder controle weten te houden – de verleiding om weer in oude gewoonten te vervallen is immers zeer groot - zullen de gevolgen van deze ontwikkelingen voor de wereldeconomie enorm zijn. De lage energieprijzen zijn een boost voor de economie. Ze geven de VS ruim de tijd om ondertussen ook alternatieve energiebronnen voor de verdere toekomst te ontwikkelen.
Waardevermeerdering van de dollar
Er zullen veel minder dollars de wereld in vloeien. Het gigantische tekort op de betalingsbalans zal drastisch afnemen. Houdt daarom rekening met een sterke waardevermeerdering van de dollar op langere termijn. En dan hebben we het nog niet over de enorme spin-off van deze grootse technologische innovaties naar andere bedrijfstakken.
Na de technologie-revolutie volgt nu de olierevolutie. Wederom made in the US. En China? Dat zal sterk afhankelijk blijven van geïmporteerde olie. Met alle gevolgen van dien. Daarvoor hoeven we alleen maar naar de VS te kijken de afgelopen 40 jaar. In plaats van het inmiddels ook in China openlijk uitgesproken streven naar werelddominantie zal de positie van China eerder verzwakken ten opzichte van de VS.
De opmars van de VS als nieuwe energiemacht zal de huidige verhoudingen in de wereldeconomie danig op zijn kop zetten. In De VS hebben ze daar een mooi woord voor. Daar noemen ze zoiets een game-changer.
Jan-Willem Nijkamp is senior vermogensbeheerder bij Fintessa Vermogensbeheer.
http://www.iex.nl/Column/69329/Olie-empire-strikes-back.aspx
Vanoil Energy Ltd.: Brynelsen and Mackey Resign
BeantwoordenVerwijderenPress Release: Vanoil Energy Ltd. – 1 hour 0 minutes ago
Symbol Price Change
VEL.V 0.345 +0.01
VANCOUVER, BRITISH COLUMBIA--(Marketwire -12/21/11)- Vanoil Energy Ltd. (TSX-V: VEL.V - News) ("Vanoil" or the "Company") announces that Messrs. Dal Brynelsen and Michael Mackey have tendered their resignations as directors and officers of the Company to focus their efforts on Vangold Resources Ltd. (TSX-V: VAN.V - News), the resource company from which Vanoil was spun out.
Mr. James Passin, manager of the Firebird Global Master Fund, Ltd. and Firebird Global Master Fund II, Ltd., the Company's largest shareholders, will be assuming the position of Chairman and the office of President and Chief Executive Officer. The Company's Board currently consists of Messrs. Passin, Don Padgett and Francis Karanja.
"On behalf of the board of directors and management, I would like to thank Dal and Mike for their commitment to the development of the Company since its creation in September 2009 and to their willingness to contribute to a positive and constructive transition," said James Passin. "We also wish to thank them both for their years of service, and wish them the very best in their future endeavours."
"The poor stock performance of the Company has been frustrating," commented Mr. Passin, "Our management team is going to spend some time addressing this issue, the board has already been instructed to conduct an immediate and thorough review of all options available with the goal to increase value for our shareholders."
About Vanoil Energy Ltd.
Based in Vancouver, Canada and Nairobi, Kenya, Vanoil is an internationally diversified resource company that has a comprehensive portfolio of 100% owned oil and gas assets in the African countries of Kenya and Rwanda. Blocks 3A and 3B in Kenya, which cover 24,912 square kilometres, are part of the vastly under-explored Cretaceous Central African Rift Basin System, an area that may hold the next major sub-Saharan discoveries. Vanoil's 1,631 square kilometres of oil and gas exclusive licence in the East Kivu Graben in Rwanda is at the southern extension of the Albertine Graben where Heritage and Tullow Oil made their historic discovery in neighbouring Uganda.
Afren oil explorer says output ahead of target
BeantwoordenVerwijderenMon Jan 2, 2012 5:16am EST
* Upcoming drilling campaign could transform resource base
* Output above year-end target sustained since Dec. 19
Jan 2 (Reuters) - Energy exploration firm Afren said production at its Ebok field, offshore Nigeria, had reached around 40,000 barrels per day (bpd), taking its end-2011 net output to some 55,400 barrels of oil equivalent per day (boepd), ahead of target.
An output rate above the year-end goal of 50,000 boepd has been sustained since Dec. 19, it said, as a result of operations in Ivory Coast as well as Ebok and Okoro in Nigeria.
"The group is in a strong position with aggregate net working interest production of 55,400 boepd going into 2012," Osman Shahenshah, chief executive of Afren, said in a statement on Monday.
He added the company's forthcoming drilling campaign in Ghana, Nigeria, the Joint Development Zone of Nigeria Sao Tome and Principe, Tanzania, Kenya and the Kurdistan region of Iraq had the potential "to materially transform and increase our discovered resource base".
In Nigeria, output at the Ebok field has increased to a stabilised rate of around 40,000 bpd following the commissioning and ramp-up of all production wells associated with the initial phases of the development.
In addition, gross production on the Ogini and Isoko fields, onshore Nigeria, has nearly doubled to around 10,500 bpd from 6,000 bpd following technical changes at the start of December.
Over the course of last year, Afren's share price lost close to half its value, reaching a low below 75 pence in November. A December rally took it to 85.70 pence by the end of 2011, around 15 percent above the November trough.
Afren vliegt omhoog: nu ca 20% hoger.
BeantwoordenVerwijderendi 03 jan 2012, 21:54
BeantwoordenVerwijderenOlieprijs sterk omhoog
NEW YORK (AFN) - De olieprijs is dinsdag sterk gestegen. De toenemende spanningen tussen Iran en de Verenigde Staten en gunstige berichten over de Amerikaanse economie zetten de prijs van een vat Amerikaanse olie ruim boven de 100 dollar.
Dinsdagavond kostte een vat Amerikaanse olie 103,10 dollar. Dat was ruim 4 dollar meer dan de slotkoers van maandag. Brentolie, uit de Noordzee, was met 112,30 dollar per vat 4,5 procent duurder dan een dag eerder. De prijzen van beide soorten olie bereikten hiermee het hoogste niveau sinds het midden van november.
Iran dreigt de voor de olie-export belangrijke Straat van Hormuz te sluiten als reactie op sancties tegen het land. Afgelopen week oefende het land al op de sluiting en testte daarbij drie raketten. De afsluiting van de zeestraat zou de levering van olie door veel Golfstaten ernstig beperken.
De olieprijs reageerde ook op de positieve ontwikkeling van de Amerikaanse economie. Zo bleek uit cijfers van onderzoeksbureau ISM dat de Amerikaanse industrie vorige maand in het sterkste tempo is gegroeid sinds juni.
EPA now unsure of link between between water contamination and hydraulic fracturing
BeantwoordenVerwijderenMichael Allan McCrae | December 23, 2011
Environmental Protection Agency Administrator Lisa Jackson, who was appointed by Obama in 2008, says that the Pavillion study in Wyoming that found water contamination from hydraulic fracturing may need another look.
“We have absolutely no indication now that drinking water is at risk,” said Jackson about the study, according to the Ithaca Journal.
On Dec. 8 the EPA released a draft report showing well contaminants linked to hydraulic fracturing in the the Pavillion natural gas field of Wyoming, about 370 kilometres northeast of Salt Lake City.
Matt Mead, Governor of the State of Wyoming, has weighed in and sent a formal request to the EPA on Wednesday to study the issue further.
“I hope we can work together to move the work surrounding Pavillion water to a more cooperative, logical and scientific approach,” Governor Mead wrote.
Encana, a natural gas producer operating in basins from from northeast British Columbia to east Texas, refutes the study by the EPA.
How to Play Angola's Pre-Salt Oil Boom
BeantwoordenVerwijderenJanuary 12, 2012 | includes: BP, CIE, COP, EIPAF.PK, GS, IXC, PBR, REPYF.PK, STO, TOT
By Gordon Wilcox
When most investors hear the term "pre-salt" in reference to offshore oil exploration, they likely think of Brazil. By some estimates, South America's largest economy has 50 billion barrels (maybe more) of pre-salt oil reserves sitting off its coast. Brazil's rising oil production is thanks in part to pre-salt fields has helped make the country South America's second-largest oil producer behind only Venezuela and one of just five countries across the world with rising oil output.
Well, there's a new kid on the pre-salt block and it happens to be OPEC member Angola, which vies with Nigeria for the number one spot among Africa's top oil-producing nations.
The Angola pre-salt investment theme is legitimate as the country's pre-salt fields have been compared to Brazil's. That means companies will be eager to team with Angola to help the country boost output.
Here's how to play the coming Angola pre-salt boom.
Cobalt Energy (CIE) We previously mentioned Cobalt as a mid-cap oil play to watch this year. The stock has almost doubled since then and was surging Tuesday after Morgan Stanley raised its price target to $38 from $19 due to Cobalt's Angola exposure.
Cobalt was among the Western firms granted licensing rights by Angola. Goldman Sachs (GS) probably loves this news. The bank is a major Cobalt investor. Not to mention that if Cobalt was sort of a takeover target before, Angola makes it that much more attractive to a prospective buyer.
ConocoPhillips (COP) The third-largest U.S. oil company appears to be the largest of the U.S. oil majors to have won licensing rights for Angola's pre-salt finds. Angola could be a boon for ConocoPhillips when the company becomes a pure-play exploration and production firm following the spin-off of its downstream business later this year.
Not to mention, Texas-based ConocoPhillips needs to up its oil output and reduce its natural gas exposure and Angola could help the company do just that in the coming years.
iShares S&P Global Energy ETF (IXC) One of our favorite energy ETFs looks great as an Angola pre-slat play, especially for the indecisive investor. Seven stocks in this ETF, including ConocoPhillips and Spain's Repsol YPF (REPYF.PK), have Angola pre-salt exposure and they combine for almost 20% of the fund's weight. In other words, IXC can help investors kill multiple Angola birds with one stone.
BP (BP) There are several things that are obvious about BP, Europe's second-largest oil company. First, the company needs to bolster production, particularly since it's going to continue selling assets.
Second, the company will look for oil in some risky places, including Angola. Indeed, BP is among the Western majors to have already won pre-salt licenses in the African nation. However, more conservative investors might want to consider ...
Total (TOT) Europe's third-largest oil company joins rival BP (BP) in winning Angola licenses and this is another feather in the cap of the French company, which has been increasing its international profile in a big way recently. A better stock than BP? We'll let the market decide, but Total is less controversial and has a higher yield.
Eni SpA (EIPAF.PK) With its hands full in Libya, Eni is looking for other African opportunities and that includes becoming an Angolan player. The Italian oil giant also offers an attractive yield, but in the near-term, Libya presents more risk to this stock than Angola offers reward.
Other Angola pre-salt plays to consider: Petrobras (PBR) and Statoil (STO).
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
Disclaimer: Neither Benzinga nor its staff recommend that you buy, sell, or hold any security.
Nog even wat info over Afren: huidige koers ca 105 p, beurswaarde ca 1,6 miljard USD, winsttaxatie voor 2012 ca 20 p p/a, veel geld in kas, relatief weinig schuld, huidige productie ca 55.000 barrels per dag en een ongelooflijke exploratieportfolio in talloze landen rond/in Afrika.
BeantwoordenVerwijderenTer vergelijking: de beurswaarde van Coastal Energy is ca 1,7 miljard bij een dagproductie van ca 20.000 barrels.
UPDATE 1-Afren finds oil in offshore Nigeria well
BeantwoordenVerwijderenTue Jan 17, 2012 3:02am EST
* Says found 549 ft of net oil pay, 41 ft of net gas pay at well
* To drill another well in offshore Ghana later this month
Jan 17 (Reuters) - British oil firm Afren found oil at one of its wells in offshore south east Nigeria, and said it planned to drill another well in offshore Ghana later this month.
Afren, whose main producing fields are in Nigeria but owns assets across Africa, said it found 549 feet of net oil pay -- the zone of a reservoir that contains economically producible oil -- and 41 feet of net gas pay at the Okoro East exploration well.
The company said the well reached a total measured depth of 8,751 feet.
Afren, which shares the well with Amni International Petroleum Development Co Ltd, said logging operations had been completed at the site and the well was being prepared for testing.
Last month, First Hydrocarbon Nigeria (FHN), which is part-owned by Afren, said it had bought a 45 percent stake in Nigerian oil block OML 26 for $147.5 million from Shell , Total and Eni.
Afren's shares, which have gained more than a quarter of their value over the past three months, closed at 115 pence on Monday on the London Stock Exchange, valuing the firm at 1.23 billion pounds ($1.89 billion).
+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
commentaar: Afren spuit weer ca 12% omhoog vandaag en dat valt nog mee (tegen) gezien bovenstaand nieuws.
549+41 feet net oil/gas pay = ca 180 m DIKKE laag netto met olie en gas.
Stel je eens voor: een plas olie met een hoogte van een gebouw met ca 60 verdiepingen.........
Afren announces oil discovery off Nigeria coast
BeantwoordenVerwijderenAfren PLC says it has discovered a new oil deposit just off Nigeria's coast
Associated Press – 1 hour 37 minutes ago
Symbol Price Change
AFR.L 131.11 +16.11
LAGOS, Nigeria (AP) -- Afren PLC says it has discovered a new oil find just off Nigeria's southern coast.
In a statement dated Tuesday, the London-based firm says they discovered oil deposits "equivalent to those that have been developed and are in production at the Okoro main field." The Okoro field now produces roughly 14,600 barrels of crude oil a day, according to company statistics.
Afren says it will carry out further testing at the site and plans to continue exploration around the area.
Afren is a partner in the find with Nigerian oil firm Amni International Petroleum Development Company Ltd.
The find is the latest as oil companies continue to look at offshore fields in Nigeria, an OPEC member nation that produces about 2.4 million barrels of crude a day.
http://www.afren.com/
BeantwoordenVerwijderen3 Oil & Gas Stocks To Consider, 2 To Avoid
BeantwoordenVerwijderenJanuary 19, 2012 | includes: ATPG, CHK, GMXR, KOG, SD
Oil and Gas stocks have seen quite a bit of volatility as of late. Word has it that production for 2012 in the United States may not be as good as that in 2011. Additionally, there appears to be an oversupply of natural gas due to the warm spell experienced over much of the United States in the last few months, and according to John P. Herrlin, Head of Equity and Gas Research at Societe Generale's Corporate & Investment Banking, half of all gas being supplied is coming from wells that have been drilled in the last 3 years with shales accounting for a quarter of current production. Given this, we take a look at five Oil and Gas players in the field and their relative positioning:
SandRidge Energy (SD) - SD is an active exploration and production company with a market capitalization of $3.32B. At time of writing this, their share price was trading at around $8.06, in the middle of its 52-week range with a beta of 2.15. They have a high debt to equity ratio (95%) and low return on equity (16%) along with a low return on equity over 5 years (-131%), Despite this their operating cash flow appeared to be steady with major capital improvements making the biggest impact to their financial statements, causing them to post large net losses in 2008 and 2009. Of their competitors, they have the largest percentage of oil rigs dedicated to exploration, although they do not have the most rigs. At the beginning of January 2012, they closed a $1B joint venture deal with a subsidiary of Repsol, YPF, SA, an international energy company in Spain. Going forward into 2012, they seek to bring in more than $3.3B from revenue obtained through oil hedges. This number is through 2015. They also seek to further oil exploration expansion and to grow their production double digits. They also seek to continue their strategy of constructing low risk conventional reservoirs. We think they show promise.
Kodiak Oil & Gas Corp (KOG) - KOG is a Denver-based independent energy exploration company with a market capitalization of $1.9B. As of writing this, it was showing strong trading at around $9.20 down for the day, but was actually surpassing its 52-week range. KOG's price to earnings ratio is 50.83 with an earnings per share of 0.18 and a beta of 3.45 which clearly indicates activity on their part relative to the market. Their stock is on the move with their recent acquisition of further acreage in the Wyoming Bakken's area tapping into the potential that most investors are seeing in the area given the recent purchases of acreage by others. Kodak currently has a total of 155,000 acres in total now. And going into 2012, they look to keep expanding their exploration abilities by moving from 5 to 8 rigs by the end of 2012. They are also dedicating $585M to Capex. We see this as a favorable buy.
Chesapeake Energy Corp (CHK]] - CHK is a company with a market capitalization of $13.69B. At time of writing this, they were trading at about $21.41, at the lower end of their 52-week range. Their price per earnings is $10.77, beta is fairly stable at 1.07 relative to the overall market, and their earnings per share is $1.99. Their yield is 0.35 or 1.60%. As recently as Jan 13, 2011, analyst Phil Weiss of Argus Research repeated his sell rating on CHK, cutting his 2011 rating to $2.81/share from $2.88/share, acknowledging that natural gas prices were eating away at CHK's profits. CHK was also cited in the most recent Bollinger Report dated 1/16/12 as a Sell. We'd rather not buck the analysts on this one.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
This article is tagged with: Long & Short Ideas, Quick Picks & Lists, Basic Materials, United States
More articles by Vatalyst »
UPDATE 1-Dragon oil says H1 production up 25 pct
BeantwoordenVerwijderenThu Jul 21, 2011 2:39am EDT
(Reuters) - Turkmenistan-focused oil and gas company Dragon Oil said first-half production was up 25 percent to 58,000 barrels per day, helped by new wells coming onstream.
The Dubai-based company reiterated its forecast of production growth of up to 20 percent this year and 10-15 percent per annum for 2011-13.
It sold 4.9 million barrels of crude oil in the first six months up 32 percent from the same last year. The average price was approximately $100 per barrel.
The company said on Thursday capital expenditure in the first six months was $151 million, leaving it with a cash balance of $1.256 billion.
Dragon said it was still in talks with Turkmenistan on an agreement to sell gas in the country which is currently flared.
Shares in Dragon Oil, in which Dubai government-owned oil firm Emirates National Oil Company owns 51 percent following a failed takeover attempt in 2009, closed at 550 pence on Wednesday
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market cap ca 3,8 miljard USD, koers ca 490 p = ca 735 $centen, WPA 2011 ca 120 $centen,
vrijwel geen schulden, keert dividend uit.
Dragon Oil is an independent international oil and gas exploration, development and production company. Our principal asset is the Cheleken Contract Area, in the eastern section of the Caspian Sea, offshore Turkmenistan. The Group’s headquarters are located in Dubai, United Arab Emirates.
VerwijderenDragon Oil had proved and probable oil reserves as at 31 December 2009 of 617 million barrels and 3.1 trillion cubic feet of gas
http://www.dragonoil.com/Doc/pdf/Interim%20Reports/DragonOil%201H11InterimsPresentation10Aug11.pdf
How Eagle Ford Compares To The Bakken
BeantwoordenVerwijderen5 comments | January 20, 2012 | includes: APC, AXAS, CLR, COG, CRZO, CWEI, EOG, GDP, GEOI, MHR, MRO, MUR, PVA, SFY, TLM
There has been much said of the Eagle Ford formation in Texas. This area has seen some very good initial production numbers. In Bakken Update: Williston Basin Estimated Ultimate Recoveries And What They Tell Us, I used current EURs to show possible upside to different areas of the middle Bakken. This article will focus on the Eagle Ford, and its current EURs. These estimates can be used to not only compare resource recovery, but also show where the best acreage is.
There are some very large differences between the Bakken and Eagle Ford. First, the Bakken has greater total recoverable resource at 18-24 billion barrels -- a Continental (CLR) estimate -- while the Eagle Ford is estimated to have 3 billion. The Bakken is currently producing 510000 barrels/day, which is more than the Eagle Ford's total potential output of 420,000 barrels/day. The Eagle Ford is 400 miles long and 50 miles wide. It has an average thickness of 250 feet, and is at depths of 4,000 to 12,000 feet. The Bakken covers 200,000 square miles, and reaches a thickness of 130 feet.
The Bakken and Eagle Ford also differ in resource types. Throughout the Bakken, we see the percentage of liquids production from the mid to high nineties. This percentage is fairly uniform throughout the Bakken, although production is much better in some areas than others. The Eagle Ford has large swings in content of oil, natural gas liquids, and natural gas. The Eagle Ford is oil dominant in the west. To the east the oil production declines slightly and natural gas liquids production increases. The eastern most section becomes a play on dry gas. These areas are divided into "windows". Different companies use different names for these windows, and in some cases increase the number of windows to four. The western section is oil dominant:
78% Oil
11% Natural Gas Liquids
11% Dry Gas
The middle section, which is referred to as the volatile oil/condensate window has:
45% Oil
25% Natural Gas Liquids
30% Dry Gas
The eastern window is referred to as the dry gas window and the majority of production comes from this resource. Given the large percentage of gas, this window is not being as aggresively developed, when compared to the other liquids heavy windows.
Each window has a very different make up of reserves, and these percentages are some what constant. These percentages change more from east to west than north to south. EOG Resources (EOG) backs this ascertion as it has had consistent results from the southwest to the northeast in the condensate window. This is unlike the Bakken, which has had large variations in results. These variations produce difficulty in knowing how good recoveries will be from one area to the other.
There are several ways to show the promise of well production. Focusing on resource alone shows little, as it does not always show how profitable the play is. There are other factors, such as time that are also important. Depletion seems to be a big concern in horizontal wells, but these wells provide a large payback in a very short period of time. Acre spacing also factors into an acreage's profitability.
2)
BeantwoordenVerwijderenAnadarko Petroleum (APC) EURs are:
Maverick, Dimmit and Webb counties: 450+ Mboe
Marathon (MRO) EURs are:
Black Oil Window (Frio, Atascosa, Wilson, and Gonzales counties): 445 Mboe
Volatile Oil Window (McMullen, S Atascosa, Karnes, N DeWitt, S Gonzales, and N Lavaca): 645 Mboe
Condensate Window (Live Oak, Bee, Karnes, DeWitt, Lavaca): 965 Mboe
Abraxas (AXAS) EURs are:
DeWitt County: 1100 Mboe
Talisman Energy (TLM) EURs are:
Most acreage in liquids rich (Webb, La Salle, McMullen, Live Oak, Karnes, and DeWitt counties): 660 Mboe
Carrizo (CRZO) EURs are:
La Salle, McMullen, Atascosa, and Frio counties: 400 Mboe
GeoResources (GEOI) EURs are:
Fayette, Atascosa, and Gonzales counties: 350-500 Mboe
Magnum Hunter (MHR) EURs are:
Gonzales County: 370-613 Mboe
Penn Virginia (PVA) EURs are:
Gonzales and Lavaca counties: 422 Mboe
Cabot (COG) EURs are:
Southeast Frio, southwest Atascosa, and northeast La Salle counties: 439 Mboe
East Atascosa, south Wilson, and west Karnes: 300-500 Mboe
Murphy Oil (MUR) EURs are:
Karnes County: 500 Mbo
SwiftEnergy (SFY]] EURs are:
Oil Window: 395 Mboe
High Yield Condensate Window: 615 Mboe
Low Yield Condensate Window: 1150 Mboe
Goodrich Petroleum (GDP) EURs are:
Southern Frio and northern La Salle: 475 Mboe
Clayton Williams (CWEI) EURs are:
Wilson County: 360 Mboe
The Eagle Ford is one of the best unconventional plays in the United States. EURs can vary a significantly from one producer to another. There are several reasons for this, as it could be geological differences or human error creating the variance. Keep in mind that these Eagle Ford wells are 4,000 to 6,000 foot laterals as opposed to the 10,000 foot laterals in the Bakken. More information is needed in both the Bakken and Eagle Ford, but these numbers can be used as a starting point when looking for a good investment.
Disclosure: I am long GEOI.
Disclaimer: This is an article on estimated ultimate recovery in the Eagle Ford. It is not a buy recommendation.
More articles by Michael Filloon »
Bakken Update: What To Buy In 2012 Part IV Wed, Jan 11
Bakken Update: What To Buy In 2012 Part III Sun, Jan 8
Bakken Update: What To Buy In 2012 Part II Sun, Jan 8
JeepComments (1438)
Thanks, Mike. Another nice comparison piece. My own investment strategy here was devised by Ernie Banks: "Let's play two." I like investing in both plays. Jeep 20 Jan, 05:50 PM3
Michael Filloon Comments (1833)
Thanks Jeep,
Investing in both is a great idea, but companies in the condensate window seem to be better positioned given the EURs in this article being based on a short lateral. 20 Jan, 09:38 PM0
Michael Filloon
January 19, 2012
BeantwoordenVerwijderenOilex Battles High Pressures In Its Key Tight Gas Well In India
The shale drilling boom in the US, which is now unlocking game-changing volumes of liquids in addition to a glut of natural gas, is slowly spreading to other countries. In Europe, it is Poland that is taking the lead, Australia is getting started and China has now drilled its first shale gas wells. Yet the successes of pioneering companies in the US shouldn’t diminish the engineering challenges of these horizontal multi-frac wells, the key technology to unlocking the prized hydrocarbons from tight unconventional reservoirs.
This is certainly something that investors in AIM- and ASX-quoted Oilex are learning. The company spudded its “proof of concept” Cambay-76H horizontal well onshore Gujarat in India’s industrial heartland in June 2010. Initial work was promising with Oilex successfully drilling and completing the 2,740 metre well, including a 610 metre horizontal section, and conducting an eight stage fracture stimulation programme, the first of its kind in India. The well intersected the target “Y” Zone...
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January 24, 2012
BeantwoordenVerwijderenIthaca Energy Attracts Takeover Attention As Athena First Oil Date Slips
Shares in Calgary-headquartered Ithaca Energy jumped more than 20 per cent on Monday morning after the AIM and TSX-quoted company confirmed it had received an approach to acquire the company. By mid-afternoon the shares were up 32 pence at 175 pence as investors welcomed news of a possible bid for the North Sea focused development company, which promises to deliver a step change in production in the next 24 months. This is the latest in a series of deals among North Sea players: last summer Enquest acquired Stratic Energy for £29 million while Premier Oil swooped on EnCore Oil in October
The Ithaca approach doesn’t involve a predator preying on a distressed company, however. Ithaca has a credible track record when it comes to funding and managing North Sea projects, using innovative partnership deals and offtake arrangements to add value to project economics and minimise risk. It also has a US$140 million debt facility and strong cash flows from its producing interests in the North Sea, ensuring a strong balance sheet and low cost of capital.
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Africa Oil Spuds Ngamia-1 Well in Kenya
BeantwoordenVerwijderenSymbol Price Change
AOI.V 1.69 +0.00
VANCOUVER, BRITISH COLUMBIA--(Marketwire -01/25/12)- Africa Oil Corp. ("Africa Oil" or the "Company") (TSX-V: AOI.V - News)(Stockholm: AOI.V - News) is pleased to announce the spudding of the Ngamia-1 well on Block 10BB, Kenya. Tullow Oil plc is the operator with a 50% working interest and Africa Oil holds the remaining 50%. Please see attached map: http://media3.marketwire.com/docs/AOI0125.pdf
The Ngamia-1 well will be drilled to a projected depth of 2,700 meters to test the oil potential in Miocene age sandstones. The well is located in the Lokichar basin, a north-south trending rift basin that is part of the East African Rift System. Live oil was encountered in the Lokichar basin by the Loperot-1 well which was drilled in 1992 and recovered 29 degree API crude from Miocene sandstones.
The Ngamia-1 well will test a prospect that is similar to oil prospects drilled by Tullow and its partners early in the exploration efforts in the Lake Albert Rift Basin of Uganda. Drilling and evaluation of the well is expected to take between 60 and 90 days. A number of prospects and leads have been mapped and would be prospective following a success of the Ngamia prospect. The Ngamia-1 will be the first well drilled on the block by the partnership and will mark the start of a multi-well drilling program in Block 10BB and adjacent blocks.
Keith Hill, President and CEO of Africa Oil, commented, "We are very excited to be drilling our first well with Tullow. They've had enormous success with the Lake Albert Rift Basin project where in excess of 1 billion barrels have been discovered and this shares many geological similarities with our Kenyan assets. Our Ngamia prospect could be a play opener for another great success in the region."
- Source: Tullow presentation - P50 Discovered and Prospective
Africa Oil Corp. is a Canadian oil and gas company with assets in Kenya, Ethiopia and Mali as well as Puntland (Somalia) through its 51% equity interest in Horn Petroleum Corporation. Africa Oil's East African holdings are in within a world-class exploration play fairway with a total gross land package in this prolific region in excess of 300,000 square kilometers. The East African Rift Basin system is one of the last of the great rift basins to be explored. New discoveries have been announced on all sides of Africa Oil's virtually unexplored land position including the major Albert Graben oil discovery in neighbouring Uganda. Similar to the Albert Graben play model, Africa Oil's concessions have older wells, a legacy database, and host numerous oil seeps indicating a proven petroleum system. Good quality existing seismic show robust leads and prospects throughout Africa Oil's project areas. The Company is listed on the TSX Venture Exchange and on First North at NASDAQ OMX-Stockholm under the symbol "AOI".
Investing In Fracking Water Solution Providers
BeantwoordenVerwijderenJanuary 27, 2012 | includes: CHK, EES, ESPH.OB, FFEX, GSFVF.PK, HEK, HUSKF.PK, POOSF.PK
Hydraulic fracturing (or fracking) is not a new technology and has been used in the oil and gas industry since the 1940s. However, in recent years there has been a tremendous amount of scrutiny put on the process of fracking. This new focus resulted from the need to unlock vast reserves of oil and natural gas trapped in shale formations deep beneath the earth's surface. However, to unlock these deep shale reserves, water usage in the drilling process has increased dramatically.
According to Chesapeake Energy Corporation (CHK) it takes on average 4.5 million gallons of water to drill a single horizontal deep shale oil or natural gas well using the traditional fracking process. All of that water must be hauled to the drill site and then the flowback, which is generally 20%, but can be as high as 50%, must be either treated on site or hauled away to be treated elsewhere. In addition to the usage of water, concerns regarding the chemicals mixed with the water and whether or not that is tainting drinking water have also become a heated topic of conversation.
The water handling business is very fragmented and is generally done by smaller local companies. However, one company that has become a pure play when it comes to providing water services in some of the nation's most prolific shale plays is Heckmann Corporation (HEK). HEK provides a turnkey water solution for the fracking industry including sourcing, transport, storage, flowback and produced water treatment, disposal and well testing services. To support these services HEK owns and operates approximately 450 trucks and 425 trailers with an additional 300 new trucks on order. The company also owns 1,100 frac tanks that are available for lease, 24 permitted disposal wells, a disposal pipeline that will be 70 miles long when completed, a 40-mile-long fresh water pipeline and 200 miles of temporary piping. The company claims it has the largest LNG fleet in the United States and has 200 LNG-powered trucks hitting the road over the next several months.
While it is the handling of the fresh and flowback water that presents the immediate profit opportunity for HEK, it is the produced water over the life of the well that will keep a steady stream of revenue rolling into the company. This brine water is produced over the life of the well as it produces oil and gas and should provide a predictable and stable flow.
While Heckmann is the all in one solution, other companies are more specialized plays in the same market. Canadian company, Poseidon Concepts (POOSF.PK), provides a fleet of modular tank systems on a lease basis to the oil and gas industry. The company leases the tank systems and also provides for the transport, set-up and teardown of the systems. The modular tank systems offer advantages over steel tanks and digging pits. The systems are much quicker to set up and use fewer truck loads than the steel tank systems and are more environmentally friendly and less invasive than the traditional digging of pits.
Poseidon is a focused on building its business in the unconventional oil and liquids-rich natural gas plays in the United States and Canada. This focus should help it avoid the impending decline in dry natural gas exploration. While Poseidon is currently a play on the onsite handling of fluids, management fully intends to continue expanding the company and become a more turnkey provider in the fracking fluids solutions and services industry. As an added bonus, the company currently pays a monthly dividend of $.09 per share giving the stock a yield of nearly 7%. The stock is up nearly 25% just since the beginning of the year and 44% from the middle of December.
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BeantwoordenVerwijderenWith Poseidon providing the water storage, there is still a need to treat both the flowback and produced water at the well. Otherwise the water will need to be loaded in tankers and hauled away. One company that aims to solve this issue is Ecosphere Technologies, Inc. (ESPH.OB). The company has a portfolio of patents and it is the company's patent for its Ozonix® Technology that may be the big winner.
In 2011 the company's wholly owned subsidiary, Ecosphere Energy Services, LLC, (EES) signed a 16 unit $45 million contract with Hydrozonix, LLC. This contract transitioned EES from an oil and gas services company to a manufacturer of equipment and a licensor of the Ozonix® technology. The parent company expects to report revenue in excess of $20 million for 2011 and is continuing its effort to reduce outstanding debt. While the company has a very promising technology, the stock is not for the faint of heart. The company is not well capitalized and the technology, while in operation, is still in the early stages.
Getting the water to and from the drill site is still a major issue for many in the oil and gas industry as demand for tankers and those who drive them is outstripping the current supply in some areas. Struggling trucking company, Frozen Food Express Industries, Inc. (FFEX) is hoping not only to fill this gap, but turnaround its own fate. Since late July of last year, the stock has plummeted 65% due to continued losses. The company has been working to streamline operations and reduce the average age of its fleet. Furthermore, in November 2011, the company announced that it would expand its presence in the lucrative frac water transportation business by increasing the total number of tank trailers to 40. The company estimates this expansion may add as much as $30 to $35 million in revenue and provide a significant margin contribution.
With a continued focus on streamlining and the addition of these high utilization services, prospects for the company and its stock price may just be headed higher. However, it is important to keep in mind that FFEX is still primarily a temperature-controlled, and to a lesser extent, a dry freight trucking company with total revenue approaching $400 million. Therefore, the addition of the tanker business should bring a welcomed boost. It will still need to execute on the primary business to please investors.
With the EPA now breathing down the industry's neck regarding water usage and contamination, alternative technologies such as the one used by GasFrac Energy Services Inc. (GSFVF.PK) could greatly reduce the water requirement that the above companies currently service. GasFrac has developed a proprietary technology they have termed the Vantage™ LPG Fracturing Process (Vantage). Instead of using the typical fracturing fluids such as a mixture of water, sand and chemicals, the Vantage process uses gelled liquefied petroleum gas (LPG).
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BeantwoordenVerwijderenGasFrac believes its process has significant benefits over traditional hydraulic fracturing. One major advantage is the process requires no water, which results in less clean up and eliminates the waste water treatment issue of the flowback water. Also, while up to nearly half of the conventional fracking fluids can remain in the reservoir nearly 100% of the LPG can be recovered allowing the well to function more efficiently. Of course all good things come with some drawbacks. The cost of the Vantage process is more expensive up front on a per well basis than traditional fracking methods. However, the company claims those additional costs are offset on the back-end through increased production from the well. In addition, there are issues concerning the safe handling of a flammable substance like LPG. The company has addressed the safety issue through strict safety standards and the use of isolation systems to help prevent combustion in the case of a leak.
The technology using LPG in the fracking process is still relatively new, but seems to be gaining traction as the oil and gas industry is faced with increased scrutiny for the use of traditional fracking methods. The company's stock was punished in 2011 due in part to unfavorable spring drilling conditions. However, the signing of a new contract with Husky Energy, Inc. (HUSKF.PK), a larger fleet and an increased presence in the United States may be just what the company needs to help it minimize the impact of the Canadian spring thaw going forward.
The recent decline in natural gas prices may put some pressure on these stocks as drillers start to back away from dry natural gas projects. However, in many cases, the capital is just being redirected to liquids-rich plays that also use hydraulic fracturing. As long as pricing for oil and natural gas liquids remains strong, any reduction in the use of fracking services due to low natural gas prices should be temporary.
Disclosure: I have no positions in any stocks mentioned, but may initiate a long position in GSFVF.PK, HEK over the next 72 hours.
article by Alex B. Gray
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BeantwoordenVerwijderenLike Fracking? You'll Love 'Super Fracking'
Oil service companies roll out new technologies to break up more earth more cheaply
By David Wethe
Few industry practices have sparked more controversy than hydraulic fracking. First, wells are drilled horizontally below the surface, allowing a single bore or pathway to reach vertical pockets of oil and natural gas trapped between formations of shale and other rock. Then high-pressure jets of water, sand, and chemicals are pumped into the ground to create fissures through the rock so oil can seep out and be retrieved. Regulators, environmentalists, and academics are studying whether the practice can damage the environment.
Undeterred, oil services companies including Baker Hughes (BHI) and Schlumberger (SLB) are continuing their quest to devise ways to create longer, deeper cracks in the earth to release more oil and gas. These companies are no longer content to frack—they want to super frack.
High crude prices and newly accessible oil and gas embedded in shale rock in North America are driving the wave of innovation. The more thoroughly that petroleum-saturated rock is cracked, the more oil and gas is freed to flow from each well, raising the efficiency—and profit—of the expensive process. For example, the growing use of movable sleeves, a tubelike device with holes that fits inside a well bore, lets drillers target multiple spots to dislodge entrapped oil. This technique can reduce the $2.5 million startup cost of a fracking well near the Canadian border by up to two-thirds, according to a recent analysis by JPMorgan Chase (JPM). Multiply such savings by hundreds of wells added in that area each year, and you start to understand why the industry is so eager to hone the process. “I want to crack the rock across as much of the reservoir as I can,” says David A. Pursell, a former fracking engineer who’s now an analyst at Tudor Pickering Holt in Houston. “That’s the Holy Grail.”
Baker Hughes has set its sights on creating “super cracks,” a method of blasting deeper into dense rock to create wider channels. The aim of the technology, branded as DirectConnect, is to better concentrate the pressure of fracking fluids to reach oil or gas farther from the well bore, which existing methods fail to do as effectively.
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BeantwoordenVerwijderenThe company also is trying to speed up the fracking process. Wells usually are fracked in steps, as plastic balls are dropped down to plug the well at various stages and isolate different zones for fracking. It can take days to get a drilling rig to the site and fish out conventional frack balls, which can get stuck over the course of 20 or 30 preparation phases in a typical well before production can begin. With land-based rigs renting for up to $30,000 a day, reducing such delays is critical. So Baker Hughes has developed disintegrating balls, which turn into powder “like an Alka-Seltzer” after a couple of days, says Rustom Mody, vice-president for technology.
Schlumberger, after six years of research, has developed a technique called HiWAY. The technology can generate bigger cracks in surrounding rock formations than current methods by combining fiber with typical fracking materials such as sand so the stuff clumps as it’s being pumped in repeated pulses and at high pressure into the side of a well. The number of customers using HiWAY in North America has grown from two a year ago to more than 20, Schlumberger says. Chief Executive Officer Paal Kibsgaard told investors in October that the HiWAY technology is yielding larger oil and gas production while using less water and sand than conventional fracking. (Schlumberger, in a quiet period prior to the Jan. 20 release of its earnings, declined comment.)
Halliburton (HAL), the No. 1 provider of fracking services, also based in Houston, is trying to reduce the amount of materials and labor used on each well. It’s rolled out RapidFrac, a series of sliding sleeves that open throughout the horizontal well bore to isolate zones for fracking. Fracking fluid is then injected at high pressure through multiple holes exposed by the sliding sleeve, cracking the surrounding rock. The process can be faster and cheaper than the most popular fracking method, which involves sending an explosive charge down the well to blast one hole at a time.
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BeantwoordenVerwijderenThe critics aligned against fracking, let alone super fracking, aren’t impressed. “If critics already think fracking is bad, theoretically, super fracking would be super bad,” says Kirk Sherr, president of Regester Larkin Energy North America, an industry consultant. Doctors attending a fracking conference in Arlington, Va., in early January called for a federal moratorium on the technique in populated areas until the health effects are better understood.
Meanwhile, the U.S. Environmental Protection Agency is studying whether fracking can contaminate water resources. The technique also has raised concerns about excessive water consumption because of the millions of gallons needed to frack each well. And local officials in Texas, Oklahoma, Arkansas, and Ohio have voiced concerns about recent outbreaks of small earthquakes in areas where drilling has been accelerating. Seismologists and academics doubt that fracking itself has caused the quakes. “The fracturing process is not causing the problems that are perceived by the public,” says David B. Burnett, director of technology at Texas A&M University’s Energy Institute. He also says the wider or deeper fractures that result from super fracking won’t create bigger environmental problems. “No change in fracturing technology would change that,” he says.
However, a 2010 study by seismologists at Southern Methodist University and the University of Texas at Austin found that the injection underground of wastewater from the wells may be affecting subterranean pressures in the rock, triggering tremors. Says Amy Mall, senior policy analyst at the National Resources Defense Council: “Just like any other type of fracking, we need a lot more independent scientific data and research to understand the risks and how best to prevent them.” Yet as long as high oil prices create big profit incentives to pursue extraction techniques beyond conventional drilling, energy companies likely will continue to explore ways to squeeze money from rocks.
The bottom line: Despite the furor over fracking to extract oil, energy companies are developing ways to make it more destructive—and profitable.
http://www.businessweek.com/magazine/like-fracking-youll-love-super-fracking-01192012.html
The Man Who Bought North Dakota
BeantwoordenVerwijderenHow wildcatter Harold Hamm became the biggest winner in the biggest American oil find since Prudhoe Bay:
http://www.businessweek.com/magazine/the-man-who-bought-north-dakota-01192012.html
http://images.businessweek.com/cms/2012-01-19/feature_hamm04__01__popup.jpg
Shell eyes site for U.S. GTL plant
BeantwoordenVerwijderenLONDON | Thu Feb 2, 2012 7:18am EST
Feb 2 (Reuters) - Royal Dutch Shell Plc said it was actively looking for a site and gas supplies for a potential gas-to-liquids plant in the United States, most likely to be built on the Gulf coast.
Shell Chief Financial Officer Simon Henry told a press conference the company was keen to take advantage of the big gap between robust oil prices and low U.S. gas prices.
The company also published a presentation saying its long-delayed Corrib Gas project in Ireland won't start up before 2014 and that the Zaedyus find in French Guiana is a 300 million barrel of oil equivalent discovery.
do 02 feb 2012,
BeantwoordenVerwijderenPetroChina koopt belang in schaliegas Shell
HONGKONG (AFN) - PetroChina heeft een overeenkomst getekend om een belang van 20 procent in het Canadese schaliegasproject Groundbirch over te nemen van Shell. Dat maakte het Chinese concern donderdag bekend.
PetroChina wilde niet zeggen hoeveel geld er met de aankoop gemoeid is, maar volgens marktpartijen gaat het om meer dan 1 miljard dollar.
Ppprecies, heb jij de positie in AOS.V nog? Volg jij dit bedrijf de laatste tijd nog? De goedkeuring voor het Clearwater-project lijkt het aandeel te kunnen maken of te breken.
BeantwoordenVerwijderengr
Arie
Arie,
BeantwoordenVerwijderenik heb je laatste berichten verplaatst naar het Oliezand-draadje.
Cobalt International shares surge 36 percent to record high on well results
BeantwoordenVerwijderenBy The Associated Press |
Symbol Price Change
CIE 32.54 +8.64
NEW YORK (AP) -- Shares of oil producer Cobalt International Energy Inc. surged 36 percent Friday after the company released a study showing that one of its wells might be far more productive than many analysts thought.
THE SPARK: On Thursday, Cobalt International released the results of test drilling at the company's "Cameia-1" well off the coast of Angola. Cobalt International said the well yielded "exceptional results" and will be able to produce 20,000 barrels of oil per day.
THE BIG PICTURE: The Cameia-1 well is just the beginning of Cobalt International's efforts to drill oil off the western coast of Africa. The company said it has plans to drill even deeper wells now that Cameia-1 has proven to be so productive.
When a well proves to be surprisingly productive, it's like winning the lottery for an oil company . Firms like Cobalt International invest in drilling leases and exploratory wells without knowing how much fuel they will produce. When companies strike the mother lode, it means they can reap much bigger profits from that fixed investment in drilling equipment and leases. Negative drilling results mean future revenue is likely to be weak.
Those same dynamics make stocks like Cobalt International's risky.
THE ANALYSIS: Citigroup Global Markets analyst Joseph Stewart said the success of the Cameia-1 well shows that Cobalt International has strong growth potential because the initial well was relatively shallow. As Cobalt International drills deeper wells, it could add a lot more production into the company's operations off Angola.
Stewart rated Cobalt International a "Buy" rating and gave the company's stock a target price of $26 per share.
SHARE ACTION: The shares surged past $36. By midday, they were up $8.52, or 35.7 percent, trading at $32.42. That's an all-time high since the shares started trading in late 2009 for less than $14. They have climbed steadily since December, when they were trading for $9.
Gulf Keystone bereikt een nieuwe historische top op 370, het wordt natuurlijk pas echt leuk als de geruchten over het bod van Exxon waar blijken te zijn.
BeantwoordenVerwijderenGULF KEYSTONE (GKP.L) -LSE
370.87 28.37(8.28%) Feb 10, 12:05PM EST
Gulf Keystone stijgt 'gewoon' door: nu al 400 p.
VerwijderenCobalt International Energy, Inc. Announces Successful Pre-Salt Flow Test Offshore Angola
BeantwoordenVerwijderenPress Release: Cobalt International Energy, Inc. – Thu, Feb 9, 2012 8:30 PM EST
Symbol Price Change
CIE 31.68 +7.78
HOUSTON--(BUSINESS WIRE)--
Cobalt International Energy, Inc. (“Cobalt ”) (NYSE:CIE - News) today provided additional data confirming the significance of its Cameia Pre-salt oil discovery in Block 21 offshore Angola.
The Cameia-1 Well was drilled in 5,518 feet (1,682 meters) of water to a total depth of 16,030 feet (4,886 meters), at which point an extensive wire line evaluation program was conducted. The results of this wire line evaluation program confirmed the presence of a 1,180 foot (360 meter) gross continuous oil column with over a 75% net to gross pay estimate. No gas/oil nor oil/water contact was evident on the wire line logs. An extended Drill Stem Test (DST) has now been performed on Cameia-1 to provide additional information.
The DST flowed at an un-stimulated sustained rate of 5,010 barrels per day of 44-degree API gravity oil and 14.3 million cubic feet per day of associated gas (approximately 7,400 BOEPD) with limited drawdown. The flow rate, which was restricted by surface equipment, facility and safety precautions, confirmed the presence of a very thick, continuous, high quality reservoir saturated with light oil.
Joseph H. Bryant, Cobalt’s Chairman and Chief Executive Officer, said “Cameia is an extraordinary success. The results have exceeded our pre-drill expectations and have increased our confidence in our entire West Africa Pre-salt exploration inventory. We will immediately commence our Cameia appraisal program.”
James W. Farnsworth , Cobalt’s Chief Exploration Officer, added that “This test confirmed the presence of a world-class quality carbonate reservoir at Cameia. The presence and quality of reservoir had been our key play and prospect risk prior to drilling. Based upon our analysis of the test data, if not limited by the test equipment on the rig, we believe the well would have the potential to produce in excess of 20,000 barrels of oil per day. In addition, we have yet to drill our deeper targets at Cameia, which if successful will provide additional upside potential.”
Cobalt had previously announced that it would drill its Bicuar-1 exploratory well after completing Cameia-1 well operations. However, given the exceptional results obtained from the Cameia-1 exploratory well, Cobalt, its partners and the Concessionaire have agreed to immediately initiate an appraisal drilling program to further assess the size and extent of the Cameia oil discovery and to drill to deeper objectives. Plans are underway to drill the Cameia-2 appraisal well with the Diamond Offshore Ocean Confidence drilling rig. The Cameia-2 appraisal well is expected to spud in February and will be drilled to a planned total depth of 16,000–18,000 feet. The Cameia-2 appraisal well is expected to take 100-120 days to drill, followed by an evaluation period based on the well’s results. Cobalt’s partners in Block 21 and Cameia-1 include Sonangol Pesquisa e Produção, S.A. (20%), Nazaki Oil and Gáz, S.A. (30%), and Alper Oil, Limitada (10%).
Cobalt International Energy heeft bij een koers van ca 32 een beurswaarde van ca 12,3 MILJARD, de huidige productie is voor zover ik kan vinden op dit moment nihil, het bedrijf maakt dus forse verliezen en moet nog steeds nieuwe aandelen uitgeven.
BeantwoordenVerwijderenOp basis van bovenstaand bericht van een nieuwe vondst met een mogelijke netto productie van ca 8000 BOE per dag en een net oil pay met een dikte van ca 270 m, stijgt de beurswaarde van CIE met maar liefst ca 3 MILJARD.
Vergelijk deze vondst, de koersreactie op de vondst en de totale beurswaarde maar eens met de recente vondst en de beurswaarde van Afren.
ma 13 feb 2012,
BeantwoordenVerwijderen‘Iran zal Straat Hormuz afsluiten’
door Bart Olmer
AMSTERDAM - Iran zal de Straat van Hormuz sluiten, wat een legitieme aanleiding vormt voor een onmiddellijke luchtaanval op Iranese nucleaire doelen door de Amerikaanse en Israëlische luchtmacht.
Die voorspelling doet de Israëlische professor Yoram Dinstein, wereldwijd beschouwd als gezaghebbend oorlogsrechtexpert en –misschien nog belangrijker– het morele kompas voor de Israëlische regering en veiligheidsdiensten.
Dinstein is deze week in Nederland voor gesprekken met Nederlandse parlementsleden en het geven van universiteitslezingen. De professor is één van ’s werelds prominentste oorlogsrechtgeleerden. Dinstein is betrokken bij de pilotentrainingen van niet alleen de Israëlische luchtmacht, maar ook de Nederlandse luchtmacht en andere westerse strijdkrachten. Voor wettelijk advies is hij de belangrijkste adviseur voor de Israëlische regering.
Dinstein zegt er volledig overtuigd van te zijn dat Iran de Straat van Hormuz gaat afsluiten, waardoor de wereld wordt afgesneden van de olieproductie. Door de 35 zeemijlen smalle zeestraat vervoerden olietankers vorig jaar 17 miljoen vaten olie per dag, éénvijfde van de wereldwijd verhandelde ruwe olie. Afsluiting van de zeestraat is voor Israël een wettelijk ’casus beli’, een officiële aanleiding voor oorlog, zegt Dinstein.
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http://www.telegraaf.nl/buitenland/11504101/__Iran_sluit_Straat_Hormuz_af__.html?sn=buitenland
Ik geloof niet in de bovenstaande voorspelling, omdat Iran dan politiek en economisch zelfmoord zou plegen. Hun eigen olie-uitvoer en voedsel-invoer wordt dan immers totaal afgesloten. Het zou zeker een volksopstand veroorzaken.
VerwijderenMaar eerlijk gezegd hoop ik er wel een klein beetje op, want ik zit immers dik in de olie en het goud.
Statoil Looks Like A Solid Long-Term Big Oil Buy
BeantwoordenVerwijderenFebruary 13, 2012 |
Statoil ASA (STO) announced its fourth quarter and preliminary full year 2011 results on Wednesday, February 8, 2012. The results were very good, to put it mildly. Here are some of the highlights from the fourth quarter:
Net operating income was NOK 60.7 billion ($10.59 billion). This represents a 42% increase from the NOK 42.8 billion of operating income in the prior year quarter.
Statoil achieved equity production of 1,975 mboe per day. This is an increase from the equity production of 1,945 mboe that the company achieved in the prior year quarter.
Adjusted earnings came in at NOK 45.9 billion ($8.0 billion). This is a 12.5 increase from the NOK 40.8 billion of adjusted earnings that the company had in the prior year quarter.
Net income was NOK 25.5 billion ($4.45 billion). This is an increase of 162.9% from the NOK 9.7 billion of net income earned in the prior year quarter. The company credits the increase to a higher net operating income and lower losses on financial items.
The company had a very successful year. The company's net operating income set a new record at NOK 211.8 billion ($36.95 billion). This is an increase of 54.3% from the prior year. In 2010, Statoil had net operating income of NOK 137.3 billion. The Board of Directors proposed a dividend increase following the increased earnings. The proposed dividend is NOK 6.50 or $1.134 per ADR share at the current exchange rate. This represents an increase of 4% over last year's dividend of NOK 6.25.
One of the major problems that has been plaguing Statoil for the last few years has been its reserve replacements. The reserve replacement ratio in 2010 stood at 87%. The three year average at that time was a terrible 64%. This poor trend reversed itself in 2011, though, and the company achieved a reserve replacement ratio of 117%, of which the organic reserve replacement ratio was over 100%. The achieved reserve replacement ratio for oil was even better, and came in at 145%. This is important because it is a measure of the company's production sustainability. An oil and gas company needs to achieve a reserve replacement ratio of 100% in order to replace the oil and gas removed from the ground. Statoil achieved this during 2011 following a series of reserve declines.
2)
BeantwoordenVerwijderenI previously wrote about Statoil's planned acquisition of Brigham Exploration Company. The deal ultimately went through and Statoil completed its purchase of Brigham in December 2011. This greatly expanded Statoil's presence in the Bakken and Three Forks tight oil plays in the Williston Basin of North Dakota and Montana. The company's management is very optimistic about this and intends to position the company for a stepwise build-up of onshore assets in the United States. This is also supportive of the company's plans to increase its equity production going forward. This will be discussed in greater detail later in this article.
Statoil also expanded its presence in Angola during the year. On the twentieth of December, Statoil announced that it was awarded operatorship of Blocks 38 and 39 with a 55% position in the Kwanza Basin in Angola. The company was also awarded a partner position with a 20% interest in Blocks 22, 25, and 40.
This is high potential pre-salt acreage that could provide another source of production growth to Statoil. Tim Dodson, the company's EVP of Exploration, had this to say about the development when it was announced:
"With 20 years of experience in Angola and a position as one of the largest producers in the country, becoming an operator of two pre-salt licenses is an important milestone for Statoil. The Angolan pre-salt is a frontier play with high potential, believed to be analogous to pre-salt Brazil. Early access to a multiple block portfolio in exploring this new play gives Statoil exposure to significant upside potential should the play be proven."
Statoil has the ambition to grow its total equity production to 2,500 mboe per day by 2020. This represents an increase of 35.14% over the total 2011 equity production of 1,850 mboe per day. Statoil looks to be on pace to achieve this goal. The company expects to increase equity production in 2012 at a 3% CAGR (compound annual growth rate) based on actual 2010 equity production. Total equity production in 2011 was slightly lower than total equity production in 2010 (1,850 mboe per day versus 1,888 mboe per day). As I have discussed in previous articles though, this decline was expected. Equity production began to pick up in more recent months as the company brought new projects online and production from existing projects was increased.
http://seekingalpha.com/article/360501-statoil-looks-like-a-solid-long-term-big-oil-buy?source=yahoo
It's Texas Tea Time For Toreador Resources
BeantwoordenVerwijderenDecember 15, 2011 | about: TRGL
Environmental concerns about hydraulic fracturing are impacting shale oil and gas exploration all over the world—Canada, the United States, New Zealand—but none as much as France.
One year ago, the Paris Basin in northern France was one of the top international shale oil plays in the world. And just like in North America and the Bakken, a junior player was the leader—Toreador Resources, (TRGL).
How this world-class play got developed was textbook geological sleuthing -- I wrote a full-length article on it.
Toreador's stock ran from $5 last year to $18 in February this year before the French government took a fast and bold step to ban fracking country-wide—sending the stock to under $3. How does a junior company survive such a mortal blow? It's a question more investors should be asking as environmental concerns surrounding hydraulic fracturing are having a bigger impact on community relations and speed/time of drilling programs.
Only three weeks ago, the Environmental Protection Agency in the United States suggested publicly that all fracking in the Bakken could stop next month—January 2012. That was quickly shot down by a North Dakota senator the next day.
Down in New Zealand, TAG Oil shareholders were subject to local residents appealling their permit to drill wells—which will be fracked. At the last minute, they said they could not afford to prolong their protest. In the eastern Canadian province of New Brunswick, citizen groups and environmentalists opposed to fracking have been blocking roads and staging demonstrations.
The concern around fracking is real, and it's global. For Toreador shareholders, it meant an immediate and sustained hit to their wallets, with the stock losing 80% of its value in months. For management, it meant speeding up their process of trying to diversify out of that one play—even though Hess was spending the next $250 million—and led to a merger with a larger private company with a surprisingly similar play in Texas.
Merger documents filed with the Securities and Exchange Commission in October show that Toreador was already looking at ways to diversify the company. Their stock price was rising, giving them good currency to do a big deal. But nothing fit just right.
The French ban on fracking obviously made a second play a lot more important. You can try to produce a shale like the Liassic without fracking, but flow rates will be much less than with fracking—and they would still have the steep decline rate regular shale wells have around the world. It's not the sexy production growth profile that would entice investors.
BeantwoordenVerwijderenSo after having in-depth discussions with several groups, Toreador’s CEO, Craig McKenzie, struck a deal with a private company, ZaZa Energy, which had some synergies with Toreador. They too have a large joint venture with US giant independent producer Hess Corp. (HES) – but theirs is in Texas. And their joint venture is worth $3 billion, 10 times what Toreador's deal was. ZaZa’s JV with Hess in the Eagle Ford covers 123,000 gross acres, with Hess covering all costs related to land, drilling and completions.
Back in 2009 ZaZa’s owners – three seasoned Texas oilmen – and McKenzie’s team were each doing the same thing—getting started on a new frontier play and trying to find a JV partner. Coincidentally, they both landed Hess around the same time; Hess signed its deal with Toreador about a week after signing with ZaZa.
According to recent filings, that merger should be completed this month, December 2011. The new company will trade under the symbol ZAZA. ZaZa gets 75% of the new company, but McKenzie will remain as CEO.
According to merger documents, by the end of 2013 the new ZaZa will be looking at a combined production of 6000 boe/d, fully paid for by its JV partner, Hess. With production today at about 900 boe/d, that represents a six-fold increase in the near future, and an even greater increase in cash flow given the current price of oil and the fact that capital will be provided by its partner.
How do they get there from here? By combining an estimated 1,000 boe/d from the Paris Basin with nearly 5,000 boe/d from the Eagle Ford post-combination, plus any production they get from their 100% owned Eaglebine property—or other acquisitions. By 2013, the new ZaZa will drill and complete an estimated 280 wells in the Eagle Ford alone—all paid for by Hess.
Hess will spend $2.5 billion in the next two years, before Dec 31, 2013, on ZaZa's Eagle Ford shale properties. ZaZa entered the play early, grabbing 14,000 gross acres, and then adding 109,000 acres with Hess. Hess can earn 90% of this by spending the money. To date, ZaZa has drilled 25 wells and has completed approximately twelve in the Eagle Ford with a 100% success rate and the wells are producing above the industry average.
3)
BeantwoordenVerwijderenOn top of that, ZaZa has 80,000 acres gross, 62,000 acres net, in the emerging Eaglebine play, which is really an Eagle Ford extension. The Eagle Ford started on the southern border of Mexico and has steadily trended north and east until reaching what is historically the Woodbine area.
Now the area is being relabeled as the Eaglebine as it heats up with Eagle Ford type activity. There are multiple horizons for oil and liquid rich gas in the play. ZaZa is an early mover in the region and is moving their first rig into the play in Q1 2012. Production in the area ranges from 150-1350 bopd IP rates for oil, with most in the 600-1,000 bopd range, and gas production as high as 19.2 million cubic feet per day IP rates. The 6,000 bopd target rate set by McKenzie doesn't include any production from the 100% ZaZa owned Eaglebine lands.
Based on Toreador’s most recent corporate presentation, with nine conventional targets and three shales, the Eaglebine is probably more exciting to McKenzie’s team than the core acreage in the Eagle Ford.
Early drilling results in this emerging region are intriguing, with one vertical well only a mile from ZaZa’s acreage producing 900 bopd. McKenzie has stated that once the companies are combined he expects to grow the Eaglebine position to 100,000 acres in the near-term.
McKenzie has also been clear with investors that his job is not done, post-merger. With hundreds of small operators in Texas and limited capital, somebody like the new ZaZa can consolidate a lot of land and production. McKenzie wants to be that somebody.
The role of consolidator won't come easy though. Surprisingly, capital is still very tight in the Eagle Ford--and as companies’ leases expire over the coming years, many CEOs are desperate for funding. Despite the hot play and 100% success rate in the Eagle Ford, investment bankers aren’t spilling their lattes from jumping all over E&P companies trying to give them money. There is money available, but it's not cheap.
Because production in Eagle Ford is still young, and services supply is tight, that creates uncertainty. ZaZa has distinguished itself as being a fast executor and it has all the agreements with the suppliers. For any private small cap with expiring acreage, bypassing a traditional IPO by merging with a public company, as ZaZa did with Toreador, can be a good option.
As for France, the Paris Basin is now third in line for the new ZaZa. At Toreador’s annual meeting this year, McKenzie said Toreador has identified 15 conventional prospects targeting 40 million barrels of reserves and will start drilling in early 2012. Toreador also managed to extend its partnership with Hess to develop the Liassic resource. Hess will be operating a one-rig, six-well program, beginning in 2012. How the Liassic responds to horizontals without fracking will be the tell on whether this play can really get off the ground.
What’s been happening in France since the fracking ban is also interesting. The media has been asking, was the government too rash? Is France missing out on something as the country now has a 19% unemployment rate? The nuclear industry has aging plants and they recently experienced their first radioactive incident. Rhetoric from the media and certain key politicians has been less rabid.
But until the French political will changes, it's truly Texas Tea Time for Toreador.
Disclosure: I am long TRGL.
by Keith Schaefer »
http://seekingalpha.com/article/314233-it-s-texas-tea-time-for-toreador-resources?source=yahoo
commentaar op bovenstaande 3 berichten:
BeantwoordenVerwijderenToreador begint een nieuw leven dmv een omgekeerde overname/omgekeerde beursintroductie en wordtZaZa.
Nog te koop voor ca 4,50, zeer geschikt voor liefhebbers van Eagle Ford.
Wat is fracking??
BeantwoordenVerwijderenhttp://www.energyindustryphotos.com/what_is_hydraulic_fracturing.htm
Behoort bij fracking-tekening in het kop-artikel.
South Sudan threatens to expel Chinese oil companies
BeantwoordenVerwijderenFebruary 15, 2012 (JUBA) – Chinese oil companies operating in South Sudan face the possibility of expulsion if it is proven that they are complicit in stealing the country’s oil, a senior official said here today.
President of Sudan Omer Hassan al-Bashir and Chinese President Hu Jintao listen to the national anthems during a welcoming ceremony at the Great Hall of the People on June 29, 2011 in Beijing, China (AFP)
The newborn state which became independent last July is locked in a row with its northern neighbour over oil and transporting it through the pipeline that runs through Sudan’s territory.
Khartoum wants Juba to pay $36 per barrel of oil it exports using Sudan’s infrastructure. But South Sudan says the fair fee should be around $1. An African Union (AU) panel tasked with mediating in this dispute among others has tabled a number of proposals that were rejected.
The Sudanese government frustrated with the lack of progress of the oil talks started seizing part of the crude exported saying that this would be to make up for unpaid invoices owed by Juba. The latter retaliated by suspending oil production altogether.
South Sudan also warned that it will sue any party that is proven to have facilitated or bought oil “stolen” by Khartoum.
Today the country’s chief negotiator in the oil talks Pagan Amum went further in this regard and singled out Chinese companies.
"Our relations with China are beginning but they are of course having difficulties now because of the role of some Chinese companies or individuals covering up some of this stealing," Amum told reporters in Juba according to Reuters.
"We will make them pay the cost or else they are out of the country," he added, without naming the firms.
State oil firms from China, India and Malaysia own majority shares in the three consortium’s extracting oil in South Sudan. China is the biggest buyer of South Sudanese oil and has built the most oil facilities in both countries.
Amum also said the Sudanese oil ministry had ordered Malaysian-Chinese pipeline operator Petrodar this week to switch on a tie-in pipeline to divert 120,000 bpd of southern oil to Sudan’s refineries.
He handed out a letter dated 13 February, allegedly from Petrodar, informing South Sudan that Sudan had commissioned the tie-in line to transfer crude "unilaterally and by force".
China has attempted to reconcile differences between the two sides and last year dispatched its special envoy to Africa for that purpose but has met little success.
Despite being the country with the largest stake in the oil, Beijing has remained mostly silent in recent weeks amid escalation of rhetoric between Khartoum and Juba and warnings from the two sides on the possibility of reverting back to war.(ST)
How the US Shale Boom Will Change the World
BeantwoordenVerwijderenHow Much Shale Gas is there in the United States? In July 2011 US EIA released a [Review of Emerging Resources: US Shale Gas and Shale Oil Plays produced by INTEK. This is an updated assessment of onshore lower 48 states technically recoverable shale gas and shale oil resources. The assessment found the lower 48 states have a total 750 trillion cubic feet of technically recoverable shale gas resources with the largest portions in the Northeast (63%), Gulf Coast (13%), and Southwest regions (10%) respectively. The largest shale gas plays are the Marcellus (410.3 trillion cubic feet, 55 percent of the total), Haynesville (74.7 trillion cubic feet, 10 percent of the total), and Barnett (43.4 trillion cubic feet, 6 percent of the total).The INTEK assessment was incorporated into the Onshore Lower 48 Oil and Gas Supply Submodule (OLOGSS) within the Oil and Gas Supply Module (OGSM) of NEMS to project oil and natural gas production for the Annual Energy Outlook 2011 (AEO2011) to provide a starting point for future work.
Total US recoverable natural gas resources (includes conventional, unconventional in lower 48, Alaska and offshore) totals 4.244 quadrillion cubic feet according to the Institute for Energy Research:
• Enough natural gas to meet US electricity demand for 575 years at current fuel demand for generation levels
• Enough natural gas to fuel homes heated by natural gas in the United States for 857 years
• More natural gas than Russia, Iran, Qatar, Saudi Arabia, and Turkmenistan combined.
The US has Three Times the Proven Reserves of Saudi Arabia in Shale Oil. Global oil shale resources exceed 10 trillion barrels. More than 1.8 trillion barrels of oil are trapped in shale in Federal lands in the western United States in the states of Colorado, Utah and Wyoming, of which 800 billion is considered recoverable–three times the proven reserves of Saudi Arabia. The INTEK assessment for EIA found 23.9 billion barrels of technically recoverable shale oil resources in the onshore Lower 48 States. The Southern California Monterey/Santos play is the largest shale oil formation estimated to hold 15.4 billion barrels or 64 percent of the total shale oil resources followed by Bakken and Eagle Ford with approximately 3.6 billion barrels and 3.4 billion barrels of oil, respectively.
http://oilprice.com/Energy/Natural-Gas/How-the-US-Shale-Boom-Will-Change-the-World.html
Dragon Oil says mulling approach for Bowleven
BeantwoordenVerwijderenFri Feb 17, 2012 9:06am EST
* Dragon says in the early stages of exploring an offer
* Possible deal would expand the company's reach beyond Turkmenistan
* Shares in Bowleven soar 70 pct, Dragon down 2.5 pct
By Sarah Young
LONDON, Feb 17 (Reuters) - Oil firm Dragon Oil said it was considering making a takeover offer for Bowleven , sending the explorer's shares soaring, in a move which would form part of Dragon's long-stated plan to expand outside of Turkmenistan.
"Dragon Oil notes the recent movement in Bowleven's share price and confirms that it is in the preliminary stages of exploring a possible offer for all of the issued and to be issued share capital of Bowleven," the firm said in a statement on Friday.
Shares in Bowleven surged 70 percent to 126 pence at 1354 GMT, hitting a five-month high, and exceeding earlier gains of around 18 percent fuelled by takeover rumours before Dragon announced its interest.
Both Bowleven and Dragon declined to comment when asked by Reuters whether talks were underway and for further details on any deal.
Dubai-headquartered Dragon, which is 52 percent owned by Dubai's Emirates National Oil Company, has expressed its intention over the last year to expand its reach beyond Turkmenistan, where 100 percent of its production is based, seeking to spend a large cash pile which it has built up from rising production and on a higher oil price.
Analysts at Bank of America Merrill Lynch said on Wednesday that Dragon had a $1.4 billion cash pile to make acquisitions, while management have indicated that they would look at deals in the range of $200 to $500 million.
Oriel Securities analyst Vugar Aliyev said an acquisition of Bowleven would represent a major strategic change for Dragon and he viewed the potential deal as neutral to slightly negative.
"If they spend $700 million on the company and then another significant portion of their cash developing it, then I would be concerned," he told Reuters.
Shares in Dragon traded down 2.5 percent to 530.5 pence at 1354 GMT, underperforming the European oil and gas index which was 0.2 percent higher.
Britain's Bowleven has made a series of oil discoveries off the coast of Cameroon, none of which have to date been developed, meaning it does not have production.
Its primary oil fields are known as MHLP-7 and Sapele. While the company has a development plan for MHLP-7, its understanding of the Sapele asset is not as well advanced.
The value of any takeover approach Dragon launches will likely hinge on how it views Sapele.
"If you're Dragon you might think I'm willing to pay for MHLP-7, where we can hopefully get production up and running relatively quickly, and then I get Sapele and exploration for free," Canaccord Genuity analyst Braden Purkis said.
Should Dragon look to only pay for MHLP-7, a bid in the range of 150 pence to 160 pence would make sense, said Purkis. A 155 pence per share offer would value Bowleven at about 456 million pounds ($718.1 million).
Tullow Oil, another London-listed oil firm, was on Friday rumoured to be lining up a bid for Bowleven before Dragon made its announcement.
"Those assets (of Bowleven's) are probably a better fit for a bigger company with a stronger balance sheet like Dragon," said Aliyev.
commentaar: dit is erg leuk nieuws voor mij, ik had nl net Bowleven bijgekocht en grappig genoeg stond ook Dragon op mijn kooplijstje. Ik ben benieuwd of er nog een biedingsstrijd komt.
VerwijderenSinds vrij recent ben ik tamelijk gek op middelgrote olie-en gas-juniors met veel geld en/of veel reserves.
Ik zie hier heel veel kansen o.a. op grote vondsten, fors stijgende productie en/of overnames.
De stijgende olieprijs is een extra pluspunt.
EnerGulf Resources Releases New Prospective Resource Estimates for Block 1711 Offshore Namibia with a Mean Estimate of 3.166 Billion Barrels of Oil (EnerGulf Gross Net 474.9 Million Barrels)
BeantwoordenVerwijderenSymbol Price Change
ENG.V 0.78 +0.02
DALLAS, TEXAS--(Marketwire -02/21/12)- EnerGulf Resources Inc. (TSX-V: ENG.V - News)(Frankfurt: EKS.F - News) ("the Company") is pleased to announce the Company has received a prospective oil resources report for four prospects and nine leads on Block 1711, Offshore Namibia, including a mean estimate of 3.166 Billion barrels of potentially recoverable oil. The report was prepared by independent oil and natural gas reservoir engineers Netherland Sewell and Associates, Inc. ("NSAI") of Dallas, Texas (www.netherlandsewell.com). The report was prepared as of December 31, 2011, and will be available on SEDAR (www.sedar.com) and on the EnerGulf website (www.energulf.com).
NSAI estimates the unrisked gross (100 percent) prospective oil resources for the prospects and leads as of December 31, 2011, to be:
Gross (100%) Unrisked Prospective Oil Resources (MMbbl)
----------------------------------------------------------------------------
Low Estimate Best Estimate High Estimate Mean
----------------------------------------------------------------------------
Total 742 2,749 6,108 3,166
----------------------------------------------------------------------------
Vanoil Energy Ltd.: Cancellation of AGM
BeantwoordenVerwijderenPress Release: Vanoil Energy Ltd. – Thu, Feb 16, 2012 1:24 PM EST
Symbol Price Change
VEL.V 0.62 +0.12
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 16, 2012) - Vanoil Energy Ltd. (TSX VENTURE:VEL.V - News) ("Vanoil" or the "Company ") announces that its Annual General Meeting of the shareholders called for Wednesday, February 22, 2012 at 11:00 a.m. (Vancouver Time) has been cancelled and will be rescheduled in due course.
About Vanoil Energy Ltd .
Based in Vancouver, Canada , Vanoil is an internationally diversified resource company that has a comprehensive portfolio of oil and gas assets in the African countries of Kenya and Rwanda. In Kenya, Blocks 3A and 3B were acquired in October 2007 through the signing of a Production Sharing Contract with the Government of the Republic of Kenya. Blocks 3A and 3B, which cover 24,912 square kilometers, are part of the vastly under-explored Cretaceous Central African Rift Basin System, an area that may hold the next major sub-Saharan discoveries. Vanoil's 1,631 square kilometers of oil and gas exclusive licence in the East Kivu Graben in Rwanda is at the southern extension of the Albertine Graben where Heritage and Tullow Oil made their historic discovery in neighbouring Uganda.
++++++++++++++++++++++++++++++++++++++++
commentaar: er iets iets vreemds aan de hand met Vanoil; sinds bovenstaand bericht uitkwam stijgen de omzetten en de koers.
Statoil Largest Tanzania Discovery May Hold Oil, Opens New Play
BeantwoordenVerwijderenBy Eduard Gismatullin and Brian Swint - Feb 24, 2012 11:18 AM GMT+0100
Statoil ASA (STL) and Exxon Mobil Corp. (XOM)’s largest gas discovery off Tanzania may hold crude oil or natural-gas liquids, opening a new “play” in East Africa, Norway’s biggest oil producer said.
The partners have drilled the Zafarani exploration well in Block 2, discovering at least 5 trillion cubic feet of dry gas, Stavanger, Norway-based Statoil said today in a statement. It plans to deepen the well by “several hundred meters” to test if “there could be some liquid potential as well,” Executive Vice President for Exploration Tim Dodson said.
“We think it’s a different play, a different age reservoir compared to what’s been proven” in Tanzania and Mozambique so far, he said in a phone interview. “It’s probably an older reservoir than the other discoveries.”
Statoil plans to focus on exploration off Tanzania and Mozambique, where BG Group Plc (BG/), Eni SpA (ENI) and Anadarko Petroleum Corp. (APC) found more than 70 trillion cubic feet of gas. The Norwegian company is joining the race for gas in East Africa so it can be turned into liquid and shipped to China and India, the world’s fastest-growing major economies.
“The Zafarani discovery should be seen as a play-opening well for Statoil in East Africa,” Theepan Jothilingam, an analyst at Nomura Holdings Inc., wrote in an e-mailed report. “There is a risk of larger resource numbers than the up to 5 trillion cubic feet Statoil has estimated.”
Statoil operates the license on Block 2 on behalf of Tanzania Petroleum Development Corp. (PETD) and has a 65 percent interest. Exxon holds the remaining 35 percent. TPDC has the right to a 10 percent working interest if the project moves to development.
08.02.2012 07:29
BeantwoordenVerwijderenUtsteder Statoil ASA
4Q 2011 Press release.pdf
Tittel Statoil : 2011 fourth quarter results
Statoil's (OSE:STL, NYSE:STO) fourth quarter and preliminary 2011 Operating and Financial Review.
Statoil's fourth quarter 2011 net operating income was NOK 60.7 billion, a 42% increase compared to NOK 42.8 billion in the fourth quarter of 2010. In 2011, net operating income was NOK 211.8 billion compared to NOK 137.3 billion in 2010.
"Statoil delivered record financial results, further improved safety and made important strategic progress in 2011," says Helge Lund, Statoil's president and CEO.
The production for 2011 was in line with expectations. During 2011 Statoil completed 41 exploration wells, 22 of which were discoveries.
"We delivered strong exploration results in 2011, adding more than 1 billion barrels to Statoil's resource base. Making high impact discoveries in the mature North Sea as well as in the Barents Sea reaffirms the potential of the Norwegian continental shelf," says Lund.
Statoil achieved a reserve replacement ratio (RRR) of 1.17 in 2011, of which the organic RRR was above 1.0. The RRR for oil was 1.45, including the effect of sales and purchases.
"We have in recent years consistently strengthened our resource base, bringing us to a new level. Our current resource base supports a continued strong reserve replacement going forward," says Lund.
The serious incident frequency (SIF) improved from 1.4 in the fourth quarter of 2010 to 0.9 in the fourth quarter in 2011. For the full year, the SIF was reduced from 1.3 in 2010 to 0.9 in 2011. (1)
Equity production was 1,975 mboe per day in the fourth quarter of 2011 compared to 1,945 mboe per day in the fourth quarter of 2010. Total equity production was 1,850 mboe per day in 2011, compared to 1,888 mboe per day in 2010.
Cash flows from operations, combined with proceeds from our continued portfolio optimisation, have been strong in 2011.
Strategic portfolio optimisation in 2011 includes closing the sell down in Peregrino and Kai Kos Dehseh oil sands, the Gassled divestment, the asset deal with Centrica on the NCS as well as the Brigham acquisition.
"The development of Statoil's project portfolio and strong exploration performance solidify Statoil's strengths on the NCS and further expand the international position," says Lund.
(1) Numbers excluding the Fuel & Retail segment.
Fourth quarter and annual results 2011
The net operating income in the fourth quarter of 2011 was NOK 60.7 billion compared to NOK 42.8 billion in the fourth quarter of 2010. The increase was largely a result of higher prices for liquids and gas and a NOK 8.5 billion gain on sale of assets, mainly related to the Gassled divestment. Lower volumes of both liquids and gas sold and increased operating expenses partially offset the
increase in net operating income.
2)
BeantwoordenVerwijderenAdjusted earnings for the fourth quarter of 2011 were NOK 45.9 billion, compared to NOK 40.8 billion in the fourth quarter of 2010.
Adjusted earnings after tax in the fourth quarter of 2011 were NOK 14.5 billion, up from NOK 11.0 billion in the fourth quarter of 2010. The effective tax rate on adjusted earnings was 68.4% and 73.0 % in the fourth quarters of 2011 and 2010, respectively.
Net income in the fourth quarter of 2011 was NOK 25.5 billion compared to NOK 9.7 billion in the same period in 2010. The significant increase stems primarily from higher net operating income and a reduced loss on net financial items,
partly offset by increased income taxes. The tax rate for the quarter was 57.7%. Statoil paid NOK 112.6 billion in taxes in 2011, compared to NOK 92.3 billion in 2010.
The board of directors is proposing a dividend of NOK 6.50 per share for 2011.
Compared to 2010, when the dividend was NOK 6.25, this is an increase in line with our dividend policy.
Outlook and strategy update
Organic capital expenditures for 2012 (i.e. excluding acquisitions and capital leases), are estimated to be around USD 17 billion including expenditures relating to our new assets from the recent Brigham acquisition.
The Company will continue to mature its large portfolio of exploration assets and expects to complete around 40 wells with a total exploration activity level in 2012 similar to the 2011 level at around USD 3 billion, excluding signature bonuses.
Statoil has an ambition to continue to be in the top quartile, of its peer group, for unit of production cost.
Equity production for 2012 is estimated to grow by around 3% Compound Annual Growth Rate (CAGR) based on the actual 2010 equity production.
Deferral of gas production to create value, gas off-take, timing of new capacity coming on stream and operational regularity represent the most significant risks related to the production guidance.
For the period beyond 2012, Statoil has an ambition to reach an equity production above 2.5 mmboe in 2020.
Key events since third quarter 2011
* Successful business development, highlighted by the closing of Statoil's acquisition of Brigham Exploration Company in December, positioning Statoil for a stepwise build-up as operator of onshore assets in the United States.
* Optimizing the portfolio, through the divestment of the Gassled ownership share, approved by the Ministry of Petroleum and Energy (MPE), and further streamlined our NCS portfolio through the the farm down in three assets through an agreement with Centrica.
* International growth, as Statoil was awarded the operatorship for pre-salt blocks 38 and 39 and a partner position in blocks 22, 25 and 40 in the Kwanza basin in Angola.
* Further strengthening our resources, as the Espevær appraisal well increased the volume estimates in the former Aldous, now Johan Sverdrup discovery.
commentaar: Niemand kan beweren dat Statoil duur is; bij een koers van ca 157 NOK en een dividend van 6,50 NOK is het rendement ca 4,1%.
BeantwoordenVerwijderenHet aandeel is dus zeer defensief, maar biedt veel grotere groeikansen dan b.v. Royal Shell.
Energierevolutie goed voor VS
BeantwoordenVerwijderen27 feb 2012, 15:30 - IEXProfs Redactie
“De energiesector heeft de wind in de rug.” Het zijn de veranderingen in de Amerikaanse energiesector die kansen bieden voor beleggers, aldus Mark Kiesel, fondsbeheerder bij Pimco in een nieuw Global Credit Perspectives artikel. Althans, het zijn kansen voor beleggers die bereid zijn zich te verdiepen in bedrijven en industrietakken die kunnen profiteren van de grote vraag in de sector.
Kiesel spreekt over ‘game-changing trends’. Hij doelt op het geluk dat Amerika voldoende, zelfs overvloedige energiebronnen bezit. Geen overbodige luxe in een tijdperk waarin de olieprijs alle oude records laat sneuvelen. De Amerikaanse overvloed in aanbod van natural gas geeft de VS met zijn binnenlandse, gedereguleerde markt, een concurrentievoordeel ten opzichte van andere landen.
De fondsbeheerder van Pimco is positief over de kansen die dat biedt. De eigen eneriebronnen - in combinatie met technologische vooruitgang en een toename in kapitaalinvesteringen - zorgen voor meer werkgelegenheid, grotere beleggingen in de private sector en de groei van veilige, onshore energietoevoer in de VS. Van deze 'game-changers’ hebben zowel Amerikaanse consumenten als bedrijven profijt, daar de binnenlandse economie minder afhankelijk wordt van buitenlandse energiebronnen.
Grotere speler dan Rusland
In de loop der tijd zal de VS de transitie van steenkool naar het schonere gas in versneld tempo doorvoeren, dat op haar beurt weer groei in nieuwe infrastructurele beleggingen, fabrieken en andere bedrijven in heel Amerika teweeg zal brengen. Ergo: groei (en energie-veiligheid!) voor de gehele Amerikaanse economie, redeneert Kiesel. sterker nog, door de groeiende binnenlandse productie van aardgas en olie kunnen de Verenigde Staten in de komende tien jaar Rusland inhalen als grootste energieproducent ter wereld, stelt Kiesel.
Voor geïnteresseerde beleggers wijst Kiesel concreet in de richting van energiebedrijven die zich richten op ‘onshore’ schaliegas en schalie-olie. Volgens Kiesel zullen deze energiebedrijven mogelijk veel sterker groeien dan de Amerikaanse economie als geheel.
Kodiak Oil & Gas Corp. Reports Fourth Quarter and Full-year 2011 Financial Results
BeantwoordenVerwijderenSymbol Price Change
KOG 9.618 -0.70
DENVER, Feb. 28, 2012 /PRNewswire/ -- Kodiak Oil & Gas Corp. (NYSE: KOG - News), an oil and gas exploration and production company with primary assets in the Williston Basin of North Dakota, today announced fourth quarter and full-year 2011 financial results.
Highlights Include:
2011 Oil & Gas Sales of $120 Million, a 287% Increase
2011 Adjusted EBITDA of $76.4 Million, 372% Growth
2011 Financial Results
For the year-ended December 31, 2011, the Company reported oil and gas sales of $120.0 million, as compared to $31.0 million during the same period in 2010, a 287% increase and a Company record. Kodiak reported an overall 211% increase in year-over-year equivalent sales volumes of 1.4 million barrels of oil equivalent (BOE), or an average of 3,922 BOE per day in 2011, as compared to 459 thousand BOE, or an average of 1,259 BOE per day in 2010, not including flared gas. Crude oil revenue accounted for approximately 96% of oil and gas sales in 2011.
For the year-ended December 31, 2011, the Company reported net income of $3.9 million, or $0.02 per basic and diluted share, compared with a net loss of $2.4 million, or $0.02 per basic and diluted share, for the same period in 2010. The net income calculation includes an unrealized loss of $16.2 million on mark-to-market derivative instruments. The unrealized derivative loss decreased Kodiak’s reported net income for 2011 by $0.08 per basic and diluted share.
As a result of the significant oil and gas property acquisitions and related financings during 2011, interest expense for the year was $18.9 million, as compared to $39 thousand for the same period in 2010. Included in interest expense was $11.5 million of costs related to the stand-by bridge financing that Kodiak obtained to enable the closing of the acquisitions. As the bridge financing was not utilized due to the successful closing of the Senior Notes financing in November 2011, all financing costs of $11.5 million were expensed in the fourth-quarter 2011. Also during the fourth-quarter 2011, as a result of the extinguishment of the Company’s Second Lien Credit Agreement in January 2012, Kodiak accelerated the amortization of all previously capitalized deferred financing costs of $2.4 million. Together, these items decreased Kodiak’s net income for 2011 by $0.07 per basic and diluted share.
Adjusted EBITDA, a non-GAAP measure, was $76.4 million for the year-ended December 31, 2011, as compared to $16.2 million in the same period in 2010, a 372% increase and another Company record. Kodiak defines Adjusted EBITDA as net income before (i) interest expense, (ii) income taxes, (iii) depletion, depreciation, amortization, and accretion (iv) amortization of deferred financing costs, (v) impairment, (vi) non-cash expenses relating to share based payments recognized under ASC Topic 718, (vii) pre-tax unrealized gains and losses on foreign currency, and (viii) pre-tax unrealized gain and losses on commodity price risk management activities.
During 2011, Kodiak drilled 47 gross wells (24.6 net) and completed 36 gross wells (15.5 net). The Company reported a net $260 million was invested for the drilling and completion of wells and for infrastructure in the Williston Basin and $321 million was invested in acquiring producing properties and undeveloped leasehold in its core operating areas.
As of December 31, 2011, the Company's total current assets were $168.9 million, of which $81.6 million was in cash and equivalents and $12.2 million was in cash held in escrow. Long-term debt as of December 31, 2011 was $750 million, which consisted of $100 million in borrowings under the Company’s Second Lien Credit Agreement and $650 million of 8.125% Senior Notes due December 1, 2019 (“Senior Notes”).
Sinds ik KOG een paar keer genoemd heb op dit draadje (in aug en okt) is de koers ca verdubbeld.
BeantwoordenVerwijderenBij een productie van ca 4000 BOE per dag is de beurswaarde nu ca 2 MILJARD.
Dat is dus nogal duur zacht gezegd, vergelijk maar eens met Afren die ca 50.000 BOE produceert en een beurswaarde heeft die bijna hetzelfde is.
USEG is ook veel goedkoper.
Russische oil majors spotgoedkoop
BeantwoordenVerwijderen3:15:00 PM - IEXProfs Redactie - Gerelateerde onderwerpen: East Capital, olie, Peter Hakansson, Rusland
Nooit eerder had East Capital zoveel Russisch olie in haar portfolio. Met dank aan de grote discount waarmee Russische oliebedrijven notereren ten opzichte van buitenlandse concurrenten, schrijft Peter Elam Håkansson, oprichter van het Zweedse East Capital. De mededeling is opvallend te noemen, daar East Capital altijd prat gaat op hun onderweging in energie voor hun Rusland-fonds, East Capital Russian Fund. Vooral de waarderingen van de bedrijven na de nieuwe stimuleringsprogramma’s zijn interessant, aldus Håkansson.
Hij noemt de toegenomen risk appetite die het begin van dit jaar markeert, net als de positieve stemming op de markt in februari. “Onze markten blijven goede resultaten behalen,” schrijft een optimistische Håkansson. Deze sterke upswing betekende goed nieuws voor hun twee grootste markten, Rusland en Turkije, die vorige maand als winnaars uit de bus kwamen.
Ook de Europese crisis speelt een rol. Håkansson: “In tijden als deze komen aandelenmarkten veelal sterk naar voren, maar veel mensen overzien het feit dat raw materials eveneens sterk groeien onder deze omstandigheden.” Met name Rusland – één van de grootste markten van East Capital – heeft hier voordeel bij. East Capital speelt daarop in met hun Rusland-fonds en het Eastern European Fund: zelden had de vermogensbeheerder zoveel olie in hun portfolio’s.
Russische discount
Al sinds East Capital in Rusland belegt (1998), verbaast het fondsenhuis zich over het feit dat een vat Russische olie in de grond eentiende was van de waarde van eenzelfde vat olie uit Europa (de waarde wordt door de vermogensbeheheerder berekend door de marktkapitalisatie van de oliemaatschappij te delen door het aantal vaten olie in de oliereserves van het bedrijf). Veertien jaar later is dat nog altijd het geval, beschrijft Håkansson.
East Capital kijkt verder dan grote namen als Gazprom en Lukoil. Het in West-Siberië gelegen Surgutneftegaz, het vierde grootste oliebedrijf in Rusland, is de grootste positie in het Rusland-fonds. East Capital heeft vooral preferente aandelen in dat bedrijf en die noteren met een discount van 30% ten opzichte van de normale aandelen. East Capital rekent ook alvast op een dividenduitkering van 12% in juni van Surgutneftegaz.
Bid talk lifts Perform and Bowleven
BeantwoordenVerwijderenPerform jumps 8% on low liquidity, while Tullow is rumoured to be eyeing Bowleven
Perform, which repackages digital sports broadcasts for bookmakers, is leading the mid-cap risers, up an impressive 8% at 293p, although volumes are low.
Credit Suisse analysts put out a note on Wednesday that singled it out as a possible bid target:
1) We believe the group is a unique European internet play, positioned to benefit from structural tailwinds in media: increasing digital sports media consumption, broadband penetration, online video advertising, in-play betting and new digital platforms and devices.
2) In our view, Perform has a scalable business model and technological platform that should facilitate growth.
3) Perform has attractive financials, with strong revenue and profit growth with high revenue visibility and cash flow conversion.
4) We believe several of Perform's businesses offer significant 'blue sky' upside potential not reflected in our forecasts or valuation.
5) Ultimately, we believe that Perform's rights portfolio, digital positioning and resultant top-line growth will likely attract potential acquisition interest.
The analysts raised their price target on the stock from 280p to 320p. But any rise in the shares may be short lived. Takeover hopes drove the stock up to around 283.5p on Wednesday, but they sunk back later to close at 272p.
Rather more substantial bid rumours are flying around Bowleven, the West Africa-focused small-cap oil explorer, after it shot up 15% to 98p. Westhouse Securities analyst Andrew Matharu said:
It's in play now. It's been in play for a while.
Traders say blue-chip peer Tullow Oil is the interested party and that it could offer 180p a share.
The shares are still a way off the high of 134.25p in late February, when Dragon Oil expressed an interest in the business, only to walk away 10 days later.
Jefferies analysts said:
While nothing came of the short flirtation Dragon Oil had with Bowleven, we believe it highlights the industry sees underpriced opportunity in Bowleven's shares.
They says the shares are trading at a 53% discount to its "discovered risked sum of parts".
Bowleven jumps by a third after "potentially transformational" oil discovery in Cameroon
BeantwoordenVerwijderenBowleven, the oil explorer focused on Africa, has gained nearly a third after it moved into profit and unveiled two potentially significant discoveries at its Sapele-1 well.
The company moved from full year losses of $10.2m to a $19.5m profit and, more importantly, announce it has found hydrocarbons at its exploration well in the Douala Basin, offshore Cameroon. Kevin Hart, the company's chief executive, said:
Whilst further evaluation and appraisal is required, we are confident that these are potentially transformational. We believe the Sapele-1 well is only the beginning of Bowleven unlocking the full potential of our Cameroon acreage.
Shares in the company - a favourite of private investors - have jumped 68p to 267.5p on the news. Phil Corbett, analyst at the company's broker RBS Hoare Govett, said:
The focus of the 2010 results is the disclosure that the Sapele-1 well has encountered potentially significant hydrocarbon bearing sands offshore Cameroon. These horizons will be tested via sidetracks after the well has been deepened to main Cretaceous target.
After [this] BowLeven is planning to sidetrack the well and test both the Lower Omicron and Deep Omicron discoveries. That the management is looking to accelerate an appraisal campaign is a positive sign, and could be a material event for the company if the drilling can push the oil in place ranges even higher.
We wouldn't focus on these two discoveries in isolation - the company has identified a number of tertiary leads and prospects on its acreage, and this well could potentially be the key that unlocks the upside prospectivity.
---------------------------------------
Posted by
Nick Fletcher
Tuesday 9 November 2010 15.33 GMT
guardian.co.uk
In nov. 2010 was de koers van Bowleven dus nog ca 267 p, nu nog te koop voor ca 90p.
VerwijderenIn 2008 en in 2011 stond de koers notabene bijna op 400 p.
Buy Now Into The Significant Upside For BP, Exxon, Marathon
BeantwoordenVerwijderenMarch 11, 2012 | 1 comment | includes: BP, MRO, XOM
Since I first controversially declared that the Macondo spill was "overblown" and recommended going long BP (BP), the stock has soared right past the bears at 30.6%. I still find the company significantly attractive and believe that the company's recent settlement will allow investors to focus more on the firm's solid fundamentals.
BP has agreed to pay a group of 100K+ plaintiffs $7.8B, having already established a $20B trust fund. As an investor relations consultant, I have worked on crisis communication efforts. My belief is that BP should have been more aggressive in rejecting culpability. Ironically, the more BP did to allay fears of wrongdoing, the more the public became incensed by its very possibility.
With the turning over of a new leaf, a review of the fundamentals is in order. The sector provides excellent return opportunities: Paradigm Oil & Gas (PDGO.OB), Avalon Oil & Gas, BP (AOGN.PK), and Marathon (MRO) are among my top picks. In this article, I will run you through my DCF analysis on BP and then will triangulate the result with an exit multiple calculations and a review of the fundamentals compared to Marathon and Exxon Mobil (XOM).
+++
http://seekingalpha.com/article/424971-buy-now-into-the-significant-upside-for-bp-exxon-marathon?source=yahoo
Boone Pickens: Don’t Expect Natural Gas Prices To Spike Anytime Soon
BeantwoordenVerwijderenBy Matt Nesto | Breakout – Fri, Mar 9, 2012 2:27 PM EST
As one of the best known and longest serving oil and gas industry executives in the country, Boone Pickens has pretty much seen it all in his 60 year career, except for one thing; a national energy policy.
"The U.S. is the only country in the world that doesn't have an energy plan," the 83 year old says in the attached video, despite the fact that we use over 20% of the world's oil.
Of course, public ire over high gasoline prices has galvanized political attention, and Pickens is once again embarking on a public crusade to reduce the country's dependence on foreign oil, this time by supporting the NAT GAS Act, a bill that is designed to incentivize the use of natural gas in the nation's truck fleet and that is gaining bipartisan support in Washington.
As much as the country is aware of the problem and wants to fix it, we never seem to do it; and President after President has tried to no avail. But Pickens is relentless and rattles off statistic after statistic to bolster the chance of passage. He points out that 70% of the oil used every day in the U.S. goes to transportation fuel, while 2/3 of our trade deficit is spent purchasing foreign oil.
"We've bought over $1 trillion dollars of OPEC oil in the last 10 years," he says, "At $100 a barrel, it's going to cost $2.2 trillion for the next 10 years so we're absolute fools if we don't get on our own resources."
As much as our domestic supply of natural gas is "abundant, cheaper and cleaner" than oil, its price is wallowing at a 10 year low and Pickens doesn't expect that to change anytime soon. And while the increased use of a drilling technique called hydraulic fracturing, or fracking, has raised environmental concerns, Pickens believes the technology is safe, proven, and will be able to overcome current concerns.
"I saw my first frack job in 1953 at Border, Texas. I've fracked over 3000 wells personally and have never had a problem with a frack job," Pickens says, while referencing 800,000 wells that have already been drilled in the Ogallala acqufier - the nation's largest - without incident.
Interestingly, as much as high gasoline prices support his effort, he's quick to point out that they're "not Obama's fault," but rather the result of limited global supply and growing global demand; particularly from China, who he predicts will match U.S. consumption in the next decade.
In the meantime, he's imploring Americans to "get yourself educated" about oil alternatives and to shed the belief that we'll always have cheap gasoline.
March 12, 2012, 2:33 PM
BeantwoordenVerwijderenNatural Gas: ‘Ugly Picture’ Not Poised To Change Anytime Soon
By Isabel Ordonez and Christian Berthelsen
There is no real dispute about an ‘exceedingly ugly picture’ for the next 12 to 24 months in the natural gas market, according to Raymond James, which hosted a conference with institutional investors last week.
What had been seen as a worst-case scenario a year ago (gas sub-$3/Mcf) is now reality, the firm notes. There is still some debate about the gas market, but consensus is that gas prices won’t rebound any time soon.
“Forget about $5 natural gas. When can we get back to $3?” firm asks. Nymex-traded natural gas fell to a fresh decade-low last week and moved even lower on Monday.
Natural gas futures down more than 2% today on the old warm-weather-hurting-demand saw, but prices recently tested (and held) support at $2.231/mmBtu, the most recent intra-day low set Jan 23.
Futures fell to $2.235 but then bounced back, and currently at $2.374. Still, gas is down about 5 cents on the day so far, and could fall further.
If futures break through $2.231, look out below — prices will be setting fresh decade lows, and “there does not appear to be any support in the market until $2,” The Schork Report says.
Als NatGas een gewoon aandeel was of een gewone grondstof, dan zou je als contrarian nu zo ongeveer moeten denken dat het dieptepunt bereikt is.
VerwijderenZowat alle analisten zijn zeer negatief over de prijsvooruitzichten.
Maar ja, aardgas in de USA is een grondstof met bijzondere problemen en ik zou echt niet durven voorspellen dat het dieptepunt nu bereikt is.
Voor een herstel zal of de productie omlaag moeten of de vraag moeten stijgen of een combinatie van beiden.
Natural gas storage is enorm hoog voor de tijd van het jaar.
VerwijderenTullow Oil profit soars on new field, lifts payout
BeantwoordenVerwijderenReuters – 1 hour 13 minutes ago
Symbol Price Change
TLW.L 1,473.75 +19.75
LONDON (Reuters) - UK-based oil explorer Tullow Oil (LSE:TLW.L - News) said profit soared last year thanks to the ramp up of a major new field in Ghana, allowing the company to announce a doubling of its dividend.
Tullow said on Wednesday total comprehensive net income jumped to $665.9 million last year from $49.2 million in 2010, powered by a 35 percent rise in oil and gas production to average 78,200 barrels of oil equivalent per day (boepd).
A company poll of analysts had earlier given an average forecast of $608 million for full-year net income.
Nonetheless, production at Tullow's Jubilee field in Ghana was lower than earlier expected and the company said it planned remedial work on the field in 2012 to improve output.
The London-headquartered group added it expects to deliver total net production of 78,000 to 86,000 boepd in 2012.
Tullow said it was now eyeing start-up of its Ugandan fields in 2016, following delayed government approval of Tullow's buyout of its partner and subsequent sale-down of its interests to France's Total (PAR:FP.PA - News) and China's CNOOC (HKG:883).
Tullow said it would pay a final dividend of 8.0 pence per share for 2011, up from a 4.0 pence final dividend for 2010.
Tullow heeft een market cap van ca 16 miljard USD bij een productie van ca 80.000 BOEPD, vergelijk dit eens met Afren....!!!
VerwijderenTullow heeft natuurlijk vele miljarden BOE gevonden en Afren zit pas rond de 1 miljard, maar toch......
Coastal Energy Announces Successful Results of Bua Ban South A-01 Well
BeantwoordenVerwijderenPress Release: Coastal Energy Company – 18 hours ago
Symbol Price Change
CEN.TO 18.58 -1.57
HOUSTON, March 13, 2012 (GLOBE NEWSWIRE) -- Coastal Energy Company (the "Company" or "Coastal Energy ") (TSX:CEN.TO - News) (AIM:CEO.L - News), an independent exploration and production company with assets in Thailand, announces the successful results of the Bua Ban South A-01 well.
The Bua Ban South A-01 well was drilled to a total depth of 8,500 feet TVD. The well encountered 88 feet of net pay in the Lower Oligocene section. The new discovery demonstrated good reservoir characteristics with 12 percent porosity and recorded pressure data indicate that this is a new and separate accumulation from the Bua Ban Main field.
The successful results of Bua Ban South A-01 are being incorporated into the ongoing technical review, operational planning and guidance on the potential size of the discovery will be forthcoming once complete.
The Lower Miocene sands which were present in the Bua Ban Main A-11 well were not present in this particular fault block.
Randy Bartley, President and CEO of Coastal Energy, commented:
"The Bua Ban South A-01 well has discovered a new oil accumulation. This successful well has re-enthused us for the Lower Oligocene at the Bua Ban South area. We will also be testing two adjacent upthrown Miocene fault blocks with the next two wells."
di 20 mrt 2012, 10:06
BeantwoordenVerwijderen'Orderboek Dockwise loopt goed vol'
AMSTERDAM (AFN) - De orders die Dockwise onlangs heeft ontvangen, verminderen de onzekerheid over de vraag naar een groot schip als de Vanguard. Dat concludeerde analist Edwin de Jong van SNS Securities dinsdag.
Dockwise 20-03-2012 (15:33)
16,08 EUR +2,75% +0,43
Dockwise meldde dinsdag opdrachten met een totale waarde van 57 miljoen dollar. SNS gaat ervan uit dat ongeveer de helft van de opdrachten werk betreft dat in de eerste helft van dit jaar wordt uitgevoerd. De andere helft gaat volgens de analisten om een opdracht voor de Vanguard in 2015.
Daarmee komt er meer duidelijkheid over de mogelijkheden voor de Vanguard, die in het laatste kwartaal van dit jaar wordt opgeleverd. ,,Het orderboek van Dockwise loopt goed vol. Het momentum begint te groeien'', aldus De Jong.
Dinsdag om 9.55 uur noteerde het aandeel Dockwise 2,6 procent hoger op 16,05 euro.
-Bowleven finds oil in Cameroon, posts smaller H1 loss
BeantwoordenVerwijderenMarch 26 | Mon Mar 26, 2012 4:46am EDT
(Reuters) - Bowleven said two of its exploration wells in the Douala Basin in Cameroon encountered oil, and the West Africa-focused oil firm reported a narrower first-half loss.
Bowleven, which has been in the news lately after Turkmenistan-focused Dragon Oil revealed it was in the early stages of making a bid for the firm, said one of the wells tested high quality light oil.
The company added it was fully funded for its current exploration and appraisal programme on Etinde and Bomono -- two exploration sites in Cameroon.
Bowleven was also currently in active discussions with a number of banks for further funding needs for development activities, Chief Executive Kevin Hart told Reuters.
"The equity markets are the last resort," Hart said.
Bowleven said it continued to review potential opportunities to acquire additional acreage in Africa, and to review farm-out opportunities to optimise the exploitation of its overall portfolio.
The company reported a loss of $5.5 million for the six months ended Dec. 31, compared with a loss of $15.7 million a year earlier.
Bowleven's shares, which have lost 34 percent of their value since Dragon Oil said last month that it would not make a bid for Bowleven, were trading up 14 percent at 100.5 pence at 0942 GMT on Monday on the London Stock Exchange.
Africa Oil finds oil in Kenya, shares jump
BeantwoordenVerwijderenReuters – 49 minutes ago
Symbol Price Change
AOI.V 3.11 +0.76
(Reuters) - Canada's Africa Oil Corp (CVE:AOI.V - News) said it found oil at one of its wells at Block 10BB in Kenya, the first such discovery in the African country.
Shares of Africa Oil -- which also has assets in Ethiopia, Mali and Puntland in Somalia -- rose as much as 58 percent to a nearly three-and-half year high of C$3.71 on the Toronto Venture Exchange . The stock was one of the top percentage gainers on the exchange.
On Monday, Kenya announced its first oil discovery in the country's northern part, where British Tullow Oil Plc has been conducting exploratory drilling.
Kenya and its neighbors in east Africa have become an international hot spot for oil and gas exploration after commercial oil deposits were found in Uganda and natural gas in Tanzania and Mozambique.
Tullow Oil operates the Block 10BB with a 50 percent working interest and Africa Oil holds the remaining stake. Tullow Oil shares were up 2.5 percent on the news.
The Ngamia-1 well will now be drilled to a depth of about 2,700 meters to explore further potential, Africa Oil said in a statement.
The Lokichar Basin, where the Ngamia discovery has been made, is one of seven basins mapped in Africa Oil's acreage.
Verbazingwekkend, hun eerste boring en gelijk succes....!!!
VerwijderenTot nu toe heb ik zoiets nog niet eerder meegemaakt met een aandeel in mijn bezit.
Is nu Vanoil aan de beurt...????
Africa Oil:
BeantwoordenVerwijderen2011 Year End Report
The Company continues its aggressive exploration efforts. Two high impact oil exploration wells are currently being drilled. The Shabeel-1 well, located on the Dharoor Block in Puntland (Somalia), is currently drilling at a depth of approximately 2,400 meters while the Ngamia-1 well, located on Block 10BB in Kenya, is currently drilling at a depth of over 1,000 meters (additional details on both wells below). It is anticipated that two drilling rigs will operate on the Company's blocks throughout 2012. It is anticipated that the results of these two wells will be available during the second quarter of 2012.
AOC, with partner Tullow, have completed the acquisition and processing of approximately 60,000 line kilometers of Full Tensor Gravity ("FTG") in Blocks 10BB, 10BA, 13T, 12A, 10A, and South Omo of Kenya and Ethiopia. The use of this new technology, developed by the US military, provides much greater resolution than traditional gravity and magnetic reconnaissance methods. This enhanced resolution allows operators to more precisely define prospective areas prior to acquiring seismic data. FTG seismic surveys are being acquired in a timeframe of months, at 5- 10% of the cost of a loose grid of 2D seismic data. This is allowing operators to focus their seismic programs towards prospect-delineation sooner, and get to drillable prospects faster and more cost-effectively. Tullow has successfully used FTG to provide a structural model of fault blocks in the Albert Graben.
During 2012, the Company's planned exploration activities include the drilling of five exploration wells and the acquisition of over 2,100 kilometers of 2D seismic. In addition to the Shabeel-1 and Ngamia-1 wells, which are currently being drilled, it is anticipated that the Shabeel North well will be drilled in Puntland (Somalia), the Paipai well will be drilled on Block 10A in Kenya and an exploration well will be drilled on the South Omo Block in Ethiopia. It is anticipated that 2D seismic will be acquired on Blocks 10BA, 10BB, 12A, 13T and South Omo.
KENYA
The Company and Tullow, its operating partner in each of the Kenyan Blocks other than Block 9, are actively exploring for oil as described below.
Block 10BB
The Company and its operating partner on the Block, Tullow, spudded the partnership's first well, Ngamia-1, on January 24, 2012. The Ngamia prospect will test the oil potential of Miocene age sandstones within a three way dip closure against the West Lokichar rift fault. Ngamia is directly analogous to successful oil accumulations drilled by Tullow and partners early in the exploration efforts in the Lake Albert graben of Uganda. The Company is currently drilling the 12 ¼" section of the well at a depth of 1040m with the Weatherford 804 rig. The well is planned to reach total depth of approximately 2700m. In addition to drilling operations, the Company and its partner are currently acquiring new 2D seismic in adjacent Block 13T and will be extending two lines (approximately 150km) into Block 10BB over the Kamba prospect. The drilling of the Ngamia-1 well satisfies the last remaining work obligation (first period) under the Block 10BB PSC.
2)
BeantwoordenVerwijderenBlock 13T
The Company and its operating partner on the Block, Tullow, expect to complete acquiring new 2D seismic over the eastern portion of the block by the end of the first quarter of 2012. Approximately 500 km of seismic data will be acquired by the seismic subcontractor Bureau of Geophysical Prospecting ("BGP"). The seismic program has been focused on areas of interest based on the final-processed FTG. Interpretation of reprocessed vintage seismic data, in addition to new preliminary seismic data, has revealed a string of interesting structures on trend with the Ngamia feature of Block 10BB. The current seismic program is focused on further delineation of these leads to mature them to drillable prospects. The acquisition of the 500 km of 2D seismic fully satisfies the work obligations (first period) under the Block 13T PSC
Block 10A
The Company and its operating partner on the Block, Tullow, have agreed on the location of the first exploratory well in Block 10A. The prospect to be drilled is the Paipai prospect with a proposed total depth of 4150m. Paipai is a large four-way closed structure with Cretaceous-age sandstone targets at multiple depths. The Weatherford 804 rig, currently at the Ngamia-1 location, will mobilize to Paipai directly after completion of Ngamia operations. The Paipai civil works associated with the location have been completed and sufficient materials have been purchased and mobilized to the location. The Paipai well will complete the required work obligations under the Block 10A PSC.
Block 10BA
The Company and its operating partner on the Block, Tullow, have completed an FTG survey over most of Block 10BA, covering all of Lake Turkana and most of the adjacent onshore areas. The seismic contractor, BGP has been contracted to acquire approximately 1350 km of mixed offshore, transition zone, and onshore 2D seismic data focused on structural leads identified from both vintage seismic data and the FTG results. Current seismic operations include establishment of the base camp, testing the recording equipment, and working with local stakeholders to ensure the acquisition program avoids any environmentally sensitive areas. The 2D seismic program will fulfill the work obligations (first period) under the Block 10BA PSC.
De beurswaarde van Africa Oil steeg dankzij een goed bericht met ca 50% tot bijna 800 miljoen.
VerwijderenDat is bijna de helft van de beurswaarde van de zwaar winstgevende Afren...!!
Eerlijk gezegd vind ik dat zwaar overdreven ook al heeft Africa Oil de potentie om nog vele grote vondsten te doen.
Vanoil heeft aanzienlijk minder concessies, maar werkt in hetzelfde gebied.
Bij een huidige beurswaarde van ca 30 miljoen is het wel duidelijk dat een behoorlijke vondst een forse koersstijging kan veroorzaken.
Precies, inmiddels zijn de MC's van Africa Oil en Afren zo'n beetje gelijk. Helemaal mee eens dat dit bizar is als je kijkt dat Afren 2011 exit production van 50000 boepd had. Overigens, een ander bedrijfje dat in de buurt van Africa Oil, Afren en Vanoil een blok in Kenia heeft: Simba Energy
Verwijderenhttp://www.simbaenergy.ca/projects/kenya.aspx
SHR,
Verwijderende voortdurende stijging van AOI begint absurde vormen aan te nemen, dit terwijl zwaar winstgevende olie-bedrijven zoals Afren, weer flink omlaag gaan...!!
De beurs lijkt wel gek te zijn geworden!
Als ik in het bestuur van AOI zat dan zou ik nu direct een forse emissie uitschrijven om aan nieuw geld te komen; een dergelijke kans voorbij laten gaan is een gruwelijke fout.
De enorme stijging van AOI levert duidelijk belangstelling op voor Vanoil.
Zoals verwacht en gehoopt, is ook Vanoil bezig om 'ontdekt' te worden: de koers is in korte tijd meer dan verdubbeld en heeft vandaag 1,12 bereikt.
Verwijderenwo 04 apr 2012, 07:58
BeantwoordenVerwijderenShell schakelt van olie over op vloeibaar gas
ROTTERDAM - Shell wil binnen 5 à 6 jaar 10% van de zakelijke weggebruikers van diesel overhevelen naar vloeibaar GTL-gas. Daar waar olie schaarser wordt, en een tankbeurt steeds duurder, is er nog voor 250 jaar aan gas voorradig op aarde. Nu Shells fabriek in Qatar op volle toeren draait, en er 120.000 vaten vloeibaar gas per dag van de lopende band komen, wordt de consument gemobiliseerd. Te beginnen via het OV en de gemeentediensten.
Het vloeibare gas dat Shell anno 2012 op de markt brengt, niet te verwarren met het klassieke autogas-lpg, is volgens Benschop „biologisch afbreekbaar, geurloos, kleurloos en, vanwege het hoge cetaangehalte, extreem schoon in de verbranding. Bovendien bevat het minder zwaveloxide, stikstofoxide (beide -12% ten opzichte van diesel red.) en amper zwavel. Ook is de uitstoot van fijnstof (’roet’) 20% lager dan bij diesel. Het wordt gewoon bij de pomp in de tank gegooid, een dieselmotor heeft geen aanpassing nodig.”
Deze week rijden de eerste 60 vuilniswagens van Van Gansewinkel erop, in totaal moeten alle 1500 dat gaan doen. Ruud Sondag, directievoorzitter van Van Gansewinkel, is vooral blij dat hij de binnensteden weer in mag met zijn vuilniswagens, nu ze minder rook uitstoten. „Ook fijn voor onze 4000 werknemers.” Ook de boten van rederij Kooij in Amsterdam, die nu nog op frituurvet varen, doen al mee.
Lees het volledige artikel in De Financiële Telegraaf van vandaag.
commentaar: Dit is absoluut DE toekomst voor aardgas en voor Royal Shell.
VerwijderenShell gaat ook in de USA dit soort fabrieken bouwen, uiteindelijk zal hierdoor een wereldmarkt(prijs) voor aardgas ontstaan.
Mede hierdoor worden aandelen Shell zeer geschikt als alternatief 'pensioenfonds'.
Dragon Oil reports a sharp increase in production; cash pile exceeds US$1.6 bln
BeantwoordenVerwijderenMon 7:28 am Dragon’s main interest is Cheleken Contract Area in the eastern section of the Caspian Sea, off the coast of Turkmenistan.
Dragon Oil (LON:DGO) this morning unveiled a sharp rise in production after five new wells came online in the first quarter.
Average daily output was 70,600 barrels of oil per day, up from 57,800 in the same period last year, the company reported.
This puts the group firmly on course to hit its medium-term target of 100,000 in 2015.
It achieved an average price of US$107 a barrel for its output, a small discount to Brent crude prices, which hovered around US$118 a barrel for the first three months of the year.
This meant Dragon was hugely cash generative – bumping its cash pile to US$1.65 billion in the bank as at March 31 compared with US$1.53 billion at the end of last year. It invested US$84 million on capital projects.
Updating the City on Dragon’s progress, chief executive Dr Abdul Jaleel Al Khalifa said: "We have maintained a strong level of gross production in the first quarter of this year, supported by solid performance from the Dzheitune (Lam) area and good progress of the drilling programme.
“Strong initial flow rates from the Dzheitune (Lam) C/167 well prove the prolific nature of the Dzheitune (Lam) C platform location.
"A number of wells are scheduled to be completed before the end of the year giving us confidence in our guidance for gross production growth of 15 per cent for 2012.
"We have commenced tendering for a significant number of projects, including new wellhead and production platforms and associated pipelines, drilling rigs, onshore infrastructure. The group has also received the approval to start tendering for the gas treatment plant."
Dragon’s main interest is Cheleken Contract Area in the eastern section of the Caspian Sea, off the coast of Turkmenistan.
Its two producing oilfields are Dzheitune (Lam) and Dzhygalybeg, which were first discovered in the 1960s and ‘70s.
Since 2000, Dragon has increased production ten-fold by introducing modern drilling techniques and targeting previously undrilled areas, such as the Dzheitune (Lam) West.
Recently the firm expanded its interests by becoming a member of the Bargou joint venture in off the coast of Tunisia.
The gas plant is part of Dragon’s “gas monetization” programme, which could ultimately see this by-product of mainstream oil production sold for export.
In a wide-ranging statement to the City Dragon also revealed later this year it will start the next cycle of tendering for additional new wellhead and production platforms to be installed in the Dzheitune (Lam) field.
For 2012, the target is to achieve a 15 per cent increase in gross production based on 13 new wells, including two sidetracks of existing wells.
UPDATE 1-Nomura starts European oil E&P sector with bullish view
BeantwoordenVerwijderenFri Mar 2, 2012 3:41am EST
* Starts Afren, Africa Oil, Cairn Energy, DNO with "buy"
* Begins coverage of Dragon, Faroe, Ophir,Soco with "buy"
* Starts Lundin, Premier, Tullow Oil with "reduce"
March 2 (Reuters) - Nomura began coverage of the European exploration and production industry with a "bullish" view as it expects high oil prices to persist through the year, but urged investors to exercise caution as the sector has outperformed over the last few months.
On Thursday, Brent topped $128 a barrel in late post-settlement trade, reaching levels not seen since July 2008, when the growing economic crisis drove oil to record peaks of more than $147 a barrel.
The current spot oil price of $121 per barrel is higher than last year's average of $111 per barrel, the second-highest oil price since 1864, Nomura wrote in a note to clients.
The brokerage started Afren, Africa Oil, Cairn Energy, DNO International, Dragon Oil , Faroe Petroleum, Ophir Energy and Soco International with "buy" ratings, terming their stocks "underappreciated" and citing their funded, multi-well exploration campaigns.
Nomura also expects these mid-cap companies to engage in mergers and acquisitions to expand their resource base.
This could be either as an acquirer like Cairn -- which could use acquisitions to rebuild its portfolio -- or as an acquisition target like DNO, whose assets in Kurdistan make it an attractive target for major names like ExxonMobil which have recently entered the region, said Nomura.
In contrast, Nomura is more cautious on big names like Lundin Petroleum, Premier Oil and Tullow Oil as they have limited scope to add to their resource base this year.
The brokerage started coverage of Lundin, Premier and Tullow Oil with "reduce" ratings.
The European oil and gas index was up 0.45 percent at 363.35 points on Friday morning, after touching a year-high of 363.37 earlier in the day.
AFRE.L
148.10p
do 19 apr 2012, 08:52
BeantwoordenVerwijderenCore Labs mikt op entree op Damrak in mei
AMSTERDAM (AFN) - De internationale dienstverlener aan de olie- en gasindustrie Core Laboratories wil halverwege mei zijn debuut maken op de Amsterdamse aandelenbeurs. Dat maakte het bedrijf donderdag bekend bij de presentatie van de eerstekwartaalcijfers.
Core Laboratories, dat in opdracht onderzoekt hoe de productie van bestaande olie- en gasvelden kan worden verhoogd, kondigde eerder deze maand zijn beursplannen aan. Destijds was het uitgangspunt een gelijktijdige notering in New York en Amsterdam in het tweede kwartaal. De keuze voor Amsterdam is een verzoek van institutionele beleggers in Europa, waaronder Nederlandse partijen.
De onderneming haalde in het eerste kwartaal een nettowinst van bijna 54 miljoen dollar in vergelijking met 46,3 miljoen dollar een jaar eerder. De omzet steeg met 13 procent tot 234,2 miljoen dollar. Core Laboratories geeft geen concrete prognose zolang de beursnotering nog niet is afgerond.
A Flaming Buy? Natural Gas Won't Stay Low Forever
BeantwoordenVerwijderenBy JASON ZWEIG
Prices have collapsed—for natural gas and for the shares of companies that produce it. Every day, the U.S. natural-gas market is flooded with an average of 3 billion cubic feet more than the nation consumes. Shares of gas companies are down—in a rising stock market—by an average of 22% over the past year. Even Warren Buffett lost money when natural-gas prices fell further and faster than he expected.
In short, the news about natural gas is awful—exactly the type of conflagration that growth investors hate, but value investors love. "Everyone who has a brain should be thinking of how to make money on this in the longer term," the renowned investor Jeremy Grantham of GMO wrote recently.
In mid-2008, natural gas traded above $10 per futures contract; today you can buy the equivalent for $2. The fuel is so cheap that if you could somehow magically transport it to Europe or Asia, you could sell it for four to eight times what you paid for it here.
New discoveries and innovative drilling techniques, along with the recent balmy winter, have led to a vast oversupply. Nationwide, inventories have risen 56% over the past year, according to the U.S. Energy Information Administration.
The market is so awash in natural gas, according to many analysts, that there could be no space left to store the stuff in the entire U.S. by this autumn unless demand surges or producers seal their wells.
Charles Maxwell, an energy analyst at Weeden & Co. with 45 years of experience, says, "I cannot in my memory recall a time like this, when we have created a surplus that may be beyond our capacity to store."
Historically, says David Tameron, an analyst at Wells Fargo Securities, natural gas has been about 10 times cheaper than crude oil. At today's depressed prices, gas is roughly 50 times cheaper. "That discount is enormous and unsustainable," he says. "If you look to the future of the U.S., the free market will turn natural gas into the answer for this country's energy problems."
In what could be a multiyear shift, electrical utilities and trucking companies, among others, are already switching from coal or diesel to natural gas—and more industries are bound to follow if it stays cheap.
Eventually, the rise in demand is bound to drive prices higher. Then the profitability of the companies that discover and produce natural gas will heat up.
"Investors can make big money longer-term," says Dan Rice, co-manager of the BlackRock Energy & Resources BGR +0.08% fund, "but you tell me how many people have horizons longer than three or six months."
2)
BeantwoordenVerwijderenMr. Rice likes Range Resources, RRC +2.03% a Fort Worth, Texas-based producer with broad exposure to the "sweet spots," or rich fields, in the Appalachian region that produce gas at very low cost. That should enable it to survive a prolonged period of depressed prices for gas.
Range is one of the few natural-gas plays to have gone up over the past year, but its profits are so depressed that the stock is trading at a triple-digit multiple of earnings. Still, Mr. Rice estimates the company's assets are worth up to $200 per share.
Mr. Maxwell is a fan of Encana, ECA +4.10% an Alberta-based producer whose shares are down 36% over the past year. The company is trading at slightly under its book value, or the surplus of what it owns over what it owes, and at four times its cash flow—making it statistically cheap on two key measures. Much of its gas reserves are in northern Canada, a potentially rich source that Mr. Maxwell calls "one of the greatest gas plays of the coming 30 years."
If you can stand not just risk but controversy, you might even consider Chesapeake Energy CHK +0.91% . Its chief executive, Aubrey McClendon, borrowed more than $1 billion to take direct personal stakes in the company's wells. After these arrangements were widely criticized (and the stock fell 27% in the past month), Chesapeake said they won't be renewed.
A tattered stock in a battered industry, Chesapeake recently traded at three-quarters of book value and less than four times cash flow, according to Standard & Poor's. The company has extensive holdings in gas-rich shale, analysts say. Chesapeake has lots of debt and not much cash. It's an extra-risky bet that natural gas will rebound sooner rather than later.
Don't touch these stocks unless you can withstand the high probability of getting a short-term scorching. There's also a lesser risk that some of these companies could flame out completely. Investors here need patience, deep pockets and an implacable tolerance for pain.
De aardgas-prijs in de USA/Canada kan niet veel lager zou je denken, het lijkt me in ieder geval verstandig om op z'n minst een begin(netje) te maken met het kopen van aandelen die het meest profiteren van een stijging van nat-gas.
VerwijderenEen stevig prijsherstel kan nog best een paar uitblijven, maar zal (zoals gewoonlijk) onverwachts komen.
http://seekingalpha.com/article/540361-natural-gas-timing-is-everything?source=yahoo
Verwijderenhttp://seekingalpha.com/article/530191-natural-gas-has-nowhere-to-go-but-up
VerwijderenNatural Gas Has Nowhere To Go But Up
BeantwoordenVerwijderenApril 26, 2012
Oil and coal are easy to load on ships and transport to the developing world. Natural gas is less so, although at these prices several companies have announced plans to construct LNG export terminals in Louisiana. Such plans are foolish, however, because the current low natural gas prices are simply part of the natural volatility of domestic gas prices: Weather is unpredictable, natural gas wells deplete rapidly. Thus, when prices are high, drilling takes off. This then leads to oversupply and low prices. Drillers then pull back, which leads to under-supply and a price surge.
Just look at the above chart and tell me that you would have any confidence that prices will stay at $2 for very long. Really?
In the past four years, we have seen a fantastic drop in natural gas prices from $14 to under $2. Adjusted for inflation, this might even be seen as the end of a multi-decade long bear market in natural gas. Now the pendulum, having reached the full extent of its move, is ready to swing the other way.
At $2 per mmBTU even conventional production has become unprofitable. The hydraulic fracturing or "fracking" which has been responsible for the modestly increased supply in the U.S., will go away completely at these prices. And it won't come back until we are safely in the $8-10 range, especially when there is $100 oil to drill for in the Bakken.
Natural gas producers will just cap the wells and wait for the price to recover to profitable levels. The gas isn't going anywhere. Why sell it at these prices?
All the talk about storage being filled and prices going to zero reminds one of the talk about the Nasdaq Composite going to zero in the tech crash of 2002. It's just the silly kind of thing that gets said at a market bottom, probably by people who know we are at a bottom and are simultaneously going long in their own accounts, hoping you will be the one dumb enough to take the other side of the trade.
There is now only one direction for natural gas prices, and that is up. The only question is: How high will prices have to go to lure back the drillers who have been burned?
Contango has killed the United States Natural Gas Fund (UNG) over the past several years. The fund has fallen from a split-adjusted $506.64 to its current price at around $15 dollars a share. That's a stunning loss of 97% over four years.
However, contango is a natural feature of declining markets which expect a return to "normal" prices. A sustained bull market in nat gas could give us backwardation in prices which will mean that front-month funds like UNG will outperform a strategy of buying and holding longer-term contracts.
I'm not going to predict that UNG will return to $506.64 anytime soon. But rather, should natural gas futures go into backwardation and the price of the underlying commodity continue to rise, as indeed it will, UNG will do just fine.
Disclosure: I am long UNG.
Kenneth D. Worth
Dude,
VerwijderenYou should use UNL instead of UNG......UNG is a disaster because of the constant roll-over.
Many frack operations (depending on location) are now more profitable than conventional. The best have costs as low as $1.50
$100 oil creates surplus NG because you get NG as a by-product from all the oil drilling.
As your chart shows, NG can stay at $2 for a long time (like the entire decade of the 1990's). It could even go to $1.50. Many companies will continue to drill b/c of the way the land leases are structured.
No real money in NG until it is put in vehicles or exported. 26 Apr, 04:12
bd4uandu Comments (219)
I agree with Zoe, until we are using it for transportation it's up side is limited.
Precies, als je UNL tegen UNG afzet in een grafiek, dan ontlopen ze elkaar niet zo heel veel. Ik weet niet of onderstaande link werkt, maar anders kun je dat zelf ook met b.v. Yahoo Finance maken:
Verwijderenhttp://finance.yahoo.com/echarts?s=UNL+Interactive#symbol=unl;range=5y;compare=ung;indicator=volume;charttype=area;crosshair=on;ohlcvalues=0;logscale=off;source=undefined;
SHR,
Verwijderenhet verschil tussen UNL en UNG is 10% per jaar op bovengenoemde chart en ik vermoed dat dat geheel te danken is aan de 'doorrol-kosten' van UNG.
UNG heeft al 2 omgekeerde splits' achter de rug en zal bij een gelijkblijvende of dalende gasprijs ongetwijfeld richting nul gaan.
wo 09 mei 2012, 18:38
BeantwoordenVerwijderenShell mag belang Cove in Mozambique overnemen
DEN HAAG (AFN) - Shell heeft van de autoriteiten in Mozambique toestemming gekregen voor de overname van de activiteiten van bodemonderzoeker Cove Energy in dat land. Dat maakte het Nederlands-Britse olieconcern woensdag bekend.
Shell bracht eerder dit jaar een bod uit op Cove, en verhoogde dat eind vorige maand. De overname gaat de oliereus 2 miljard dollar kosten. Het kroonjuweel van Cove Energy is een belang van 8,5 procent in een gasproject voor de kust van Mozambique. Om dat over te nemen was toestemming van de lokale autoriteiten vereist.
NEW YORK (AP) -- The price of U.S. natural gas jumped to the highest level since February as companies shut down production across the country.
BeantwoordenVerwijderenNatural gas futures rose 2.2 cents to $2.487 per 1,000 cubic feet on Thursday, extending a recent surge. The price has soared 30.4 percent since hitting a 10-year low on April 19.
The run-up could marginally boost energy costs for power plants, factories and other industrial consumers that are big users of natural gas. But the price is still about 40 percent cheaper than a year ago, and the recent jump isn't expected to affect residential electricity bills this summer.
Until recently, natural gas prices had been in a free fall. A relatively warm winter had cut heating demand in the U.S. and natural gas supplies grew so rapidly that analysts warned that the industry could run out of places to put it.
Major producers such as Chesapeake Energy Corp., Encana Corp. and ConocoPhillips responded by shutting down some of their operations. Across the country, the number of active natural gas drilling rigs fell 40 percent from October to March.
Supplies still grew last week, according to the government's latest report. But the increase was smaller than analysts expected.
"Producers are finally pulling back" on production, independent trader and analyst Stephen Schork said. "It's making a difference."
Meanwhile, oil prices were mixed after falling most of the week. Benchmark U.S. crude increased by 27 cents to end the day at $97.08 per barrel in New York while Brent crude fell by 47 cents to finish at $112.73 per barrel in London.
Oil has been mostly declining since April as some European countries fell into recession and the U.S. reported disappointing jobs growth. Benchmark U.S. oil has fallen 5.8 percent since April. Brent crude, which sets the price for oil imported into the U.S., has dropped by 8.3 percent.
Analysts say oil prices should also keep falling this summer if world oil supplies grow as expected. OPEC increased oil production by 320,000 barrels per day in April, according to Platts, the energy-information arm of McGraw-Hill Cos. OPEC's biggest producer, Saudi Arabia, plans to crank up production even further in an effort to push oil prices lower.
Declining oil prices could take some pressure off a world economy that's struggling to grow. The price of U.S. gasoline, which follows oil has dropped by nearly 20 cents since peaking on April 6 at $3.936 per gallon. The decline amounts to savings of about $2 to $3 per fill-up, enough to cut America's gasoline spending by $73.1 million per day.
In other futures trading, heating oil lost 1.57 cents to end at $2.9834 per gallon and wholesale gasoline fell by 1.39 cents to finish at $3.0102 per gallon.
___
ma 14 mei 2012, 15:58
BeantwoordenVerwijderenING positief over beursnieuweling
door Johan Wiering
AMSTERDAM - Vooruitlopend op de gang naar de Amsterdamse beurs heeft ING-analist Quirijn Mulder het koersdoel voor Core Laboratories opgetrokken. De bank roemt de sterke prestaties van de dienstverlener en toont zich positief over de verschuiving van olie naar gas en van de VS naar internationale markten.
Core Laboratories wordt al sinds 1995 op de beurs van New York verhandeld en hoopt met een tweede notering in Amsterdam nog meer Europese beleggers aan zich te binden. Mulder toont zich hier verheugd over, want ondanks de zeer sterke koersontwikkeling van het bedrijf ziet hij nog volop potentieel.
Core Laboratories levert technologieën en diensten die oliemaatschappijen helpen om zoveel mogelijk olie en gas uit velden te halen. Het bedrijf is meer de nadruk gaan leggen op olie, omdat de prijzen relatief gunstig zijn in vergelijking tot die van gas. Het omzetaandeel van olie steeg eind vorig jaar van 70 tot 80%, wat Quirijn toejuicht „Olievelden genereren hogere rendementen, daar ze complexer zijn dan gasvelden: olievelden bestaan uit water, olie en gas, terwijl gasvelden alleen gas en water bevatten."
Dat Core Laboratories zich meer toelegt op internationale velden, vindt de ING-analist eveneens een goede zaak. Hij wijst erop dat de internationale velden vaak groter zijn en er betere groeikansen buiten de VS liggen. Zijn kanttekening is wel dat de winstgevendheid in de VS hoger is.
Voor de komende jaren rekent Mulder op een voortgaande groei van de winst per aandeel in dubbele cijfers. Na de vorig jaar behaalde $4,13 taxeert hij $4,81 voor dit jaar en $5,70 voor volgend jaar. Het sterke trackrecord en de gunstige perspectieven rechtvaardigen volgens hem een relatief hoge koers-winstverhouding. Zijn onlangs verhoogde 12-maands koersdoel is $157,50 (€107), wat 14% boven het huidige niveau ligt.
di 15 mei 2012, 09:24
BeantwoordenVerwijderenMogelijk overnamestrijd om Cove na gasvondst
LONDEN (AFN) - Het Amerikaanse oliebedrijf Anadarko maakte dinsdag een gasvondst in Mozambique bekend die een overnamestrijd rond Cove Energy kan ontketenen. Dat bedrijf stemde vorige maand in met een overname door Shell.
Royal Dutch Shell A 15-05-2012 (17:35)
25,115 EUR -0,65% -0,165
Volgens Anadarko bevat het zogeheten Golfinhoveld in het noorden van Mozambique mogelijk meer dan 566 miljard kubieke meter gas. De partners van Anadarko in het veld zijn het Japanse Mitsui, het Indiase Bharat Petroleum, Videocon en het Britse Cove Energy.
Shell evenaarde vorige maand het bod van het Thaise PTTEP op Cove van 1,8 miljard dollar. Inclusief belastingen komt het bod van Shell op 2 miljard dollar. Het kroonjuweel van Cove is een belang van 8,5 procent in een gasproject voor de kust van Mozambique. Beleggers stuwden de koers van Cove tot boven het bod van 220 pence per aandeel van Shell in de hoop op een tegenbod van PTTEP of een andere partij.
do 31 mei 2012, 19:47
BeantwoordenVerwijderen'Olie blijft rond $110'
Edwin van der Schoot
AMSTERDAM - De bodem lijkt in zicht voor de alsmaar dalende olieprijs. Dat voorspelt ABN Amro analist Hans van Cleef in zijn maandrapport. Ook Maurits Timmermans (Nuon) schrijft in zijn weekrapportage dat Noordzeeolie waarschijnlijk tussen de $100 en $110 blijft hangen.
In april daalden de olieprijzen vanaf de top op $128 met 2,5%, in mei volgde nog eens 9,5%. Gematigde groei in de VS, langzame economische groei in de eurozone, afnemende geopolitieke spanningen en ruime voorraden zouden de druk op de Brent olieprijs moeten houden. „Echter”, zo schrijft Van Cleef, „enkele factoren voorkomen dat de olieprijs ruim onder de $100 zal zakken. De onderhandelingsgesprekken tussen Iran en het westen hebben nog niet tot een bevredigend resultaat geleid. Daarnaast blijft de toename van de vraag vanuit opkomende landen sterk. Verder wordt verwacht dat de seizoensvraag in juli en augustus toe zal nemen.”
Tot slot is er het fiscale budget van Saudi-Arabië. Dit is vorig jaar verhoogd waardoor hun huidige gewenste olieprijs rond de $100 ligt. Als gevolg daarvan handhaaft ABN Amro de voorspelling voor een gemiddelde olieprijs (Brent) van $110 in 2012. De voorspellingen voor respectievelijk het 2e en 3e kwartaal zijn: $110 en $105. Ook voor 2013 voorspelt hij dezelfde bandbreedte.
De voorspelling voor Amerikaanse WTI-olie is $95 voor het tweede en $90 voor het derde kwartaal wat zal leiden tot een gemiddelde prijs van $95 voor heel 2012.
Timmermans (Nuon) schrijft: „Ondanks de mogelijke exit van Griekenland, is de prijs niet sterk gedaald omdat analisten de gevolgen van deze mogelijke exit al in de prijs hadden meegenomen.”
Toch zijn alle verloven zijn ingetrokken voor oliehandelaren als halverwege de maand juni. Griekenland gaat op zondag 17 juni naar de stembus. Op maandag 18 juni en dinsdag 19 juni vindt in Moskou een top plaats tussen Iran en zijn grootste kritikasters, over het nucleaire conflict waardoor het land sancties van een groot deel van de Westerse wereld tegemoet kan zien.
evdschoot @ telegraaf.nl
Olie nu in een "bear market"
BeantwoordenVerwijderen4 Jun 2012 om 16:00 - IEXProfs Redactie
Ruwe olie verkeert nu "in een technische bear market". Dat stelt Ole Hansen van Saxo Bank. Zowel Brent als West Texas Intermediate zijn in drie maanden tijd 20% in prijs gekelderd. Brent tuimelde van bijna 130 naar 100 dollar per vat. Dat lijkt goed nieuws voor Amerikaanse en Europese consumenten. Maar, zo waarschuwt Hansen: "Sommige olieproducenten zullen de pijn snel gaan voelen en wellicht de oliekraan dichtdraaien om de prijsval onder controle te krijgen."
De kelderende olieprijs veroorzaakt een bloedbad onder speculanten die erop gokten dat hij juist zou blijven stijgen. Hun long-posities in olie zijn al teruggelopen van 500 miljoen naar 326 miljoen vaten en het einde is nog niet in zicht. Wat wel in prijs steeg was gas. De brandstof was zo goedkoop geworden dat Amerikaanse krachtcentrales en consumenten eindelijk massaal hun steenkolen begonnen te verruilen voor het vluchtige alternatief.
Maar als gevolg liep de prijs op tot 3 dollar per MMBtu, waardoor de omschakeling weer tot stilstand kwam. Volgens Hansen moet de gasprijs niet hoger oplopen dan 2,5 dollar om de conversie te laten voortduren. Ook voedsel, goud en industriële metalen kelderden in prijs. De Dow Jones-UBS Commodity Index ging met 9% onderuit, "een van de scherpste dalingen binnen een maand sinds 2008", aldus Hansen. Goud hield nog het beste stand met een verlies van 7%.
http://www.iexprofs.nl/Column/Opinie/77355/Olie-nu-in-een-bear-market.aspx
di 05 jun 2012, 08:00
BeantwoordenVerwijderenShell verwacht dalende olieprijzen
KUALA LUMPUR (AFN) - De prijs van olie zal de komende maanden verder dalen. Dat verwacht Shell-topman Peter Voser, zo zei hij dinsdag in een interview. ,,Wereldwijd is de vraag niet meer zo sterk, er zijn elementen van een recessie in Europa en een kleine vertraging in Azië'', aldus Voser.
Bovendien ziet de topman dat ook een aantal politieke factoren die de prijs de afgelopen tijd hebben opgedreven, zoals de spanningen tussen Iran en het westen, inmiddels geen invloed meer hebben. Voser denkt dat pas gedurende 2013 de vraag weer aantrekt en dat de prijzen dan ook weer omhoog gaan.
Voser liet verder weten dat de vraag naar vloeibaar gas, lng, de komende jaren sterk zal groeien en zal verdubbelen tegen 2025. De Verenigde Staten worden in zijn visie een grote exporteur van lng.
do 07 jun 2012, 05:30 | 0 reacties
BeantwoordenVerwijderenAardgas speelt groene kaart versus olie
Edwin van der Schoot
KUALA LUMPUR - Aardgas gaat olie vervangen als belangrijkste energiebron. Dat is de boodschap die Shamsul Abbas, de bestuursvoorzitter van het Maleisische olie- en gasbedrijf Petronas, de afgelopen dagen de wereld in hielp op de jaarlijkse wereldwijde gasbeurs.
De man doet dat in de hoedanigheid van officieuze gastheer van de wereldgasconferentie. Alles wat een deuntje mee wil blazen, van Shell en Gazprom tot de Nederlandse Gasunie, is momenteel in Kuala Lumpur.
Abdul Rashim, voorzitter van de IGU (International Gas Union), somt op: „Gas (in tegenstelling tot olie red.) is niet slechts in enkele delen van de wereld te vinden, maar overal.” Volgens de IGU is er inclusief winbare schaliegasreserves inmiddels nog voor 250 jaar gas in de wereld. Olie wordt door Shell op 50 tot 70 jaar geschat, bij het huidige gebruik, ondanks het feit dat er ook schalieolie-reserves zijn.
Het rapport ’A golden age for gas’, dat Maria van der Hoevens Internationaal energie agentschap eind 2011 publiceerde, gaat er hier in als zoete koek. Van der Hoeven benadrukt dat aardgas vooral vele malen schoner is dan olie en kolen, en alleen daarom al de voorkeur zou moeten genieten.
Daar waar de twee grote oliereuzen Shell en Exxon eerder al ferme stappen zetten in de gaswinning, kondigde de Maleisische maatschappij Petronas gisteren soortgelijke stappen aan. Het gaat vooral investeren in de handel in vloeibaar gemaakt gas, LNG. Dit gas is met name in Azië extreem populair als vervangende brandstof voor oliegestookte elektriciteitscentrales en stilgezette kerncentrales.
Ook de grootste oliehandelaar ter wereld, het Rotterdamse Vitol, stapt in de gashandel. Momenteel haalt het nog 95% van zijn bijna $300 miljard omzet uit olie. Vitol tekende in april een leveringscontract met één van de grote staatsenergiebedrijven van Korea.
„LNG-tankers zijn de duurste schepen van het moment. De reguliere Very Large Crude Carrier (de grootste olietankers red.) konden tot voorheen $180.000 per dag kosten, inmiddels is dat $10.000 tot $15.000,” schat Vitol’s Mark Ware. LNG schepen doen nog altijd minimaal $120.000 per dag, en er is volgens analistenbureau Pandora Research een tekort van 15% op de markt.
Tankopslagbedrijf Vopak stapte al eerder in de markt voor vloeibaar gas, door samen met Gasunie voor €800 miljoen de Gate Terminal in Rotterdam te bouwen, een los- en opslag voor vloeibaar LNG-gas.
do 07 jun 2012, 19:49
BeantwoordenVerwijderenGoldman Sachs verwacht stijgende olieprijs
AMSTERDAM - De komende maanden zal de olieprijs eerder stijgen dan dalen. Dat verwachten analisten van Goldman Sachs.
De voortdurende onrust in Europa zet, samen met de geremde groeiverwachtingen in de Verenigde Staten en China, weliswaar een rem op de vraag. Maar door onzekerheid aan de aanbodkant verwacht de zakenbank toch een overgang van overschot naar tekort. De onzekerheid over de aanpak van de eurocrisis maakt daarnaast dat de olieprijs volatiel blijft.
Met name de Europese en Amerikaans boycotten van Iraanse olie, die eind deze maand in gaan, zorgen voor een afname van de productie. Het wereldwijde aanbod was in het eerste deel van 2012 wel positief maar dit kwam omdat Saudi-Arabië zijn productie opvoerde tot recordhoogte. Als eind juni de boycotten daadwerkelijk van kracht worden zal dit effect teniet worden gedaan. Voor de periode mei tot december verwachten de analisten een tekort van 360 duizend vaten per dag.
De prijs van een vat ruwe olie dook vorige week voor het eerst in meer dan een jaar onder $100 maar lijkt nu de weg naar boven weer gevonden te hebben. Goldman Sachs gaat ervan uit dat de stijging doorzet. De bank verwacht wereldwijd nog steeds een gemiddelde economische groei in 2012.
Shale-Gas Boom Could Bring Bounty to Companies and Investors
BeantwoordenVerwijderenPublished: Wednesday, 20 Jun 2012 | 9:36 AM ET
The natural gas industry may now be hurting from rock-bottom prices, but if it is able to fully exploit fracking technology and estimates of massive shale gas reserves turn out to be accurate, there will be few losers and many winners — from exploration and extraction companies to pipeline construction and services companies.
Much of the recent weakness in gas prices, which hammered industry-players' stock prices, was from lack of demand caused by an exceptionally mild winter, says Morningstar analyst Mark Hanson.
He believes normal weather conditions in the future should double the price to $5 per 1,000 cubit feet, a level that will provide healthy profits and isn't at odds with the supply boom
“There are sufficient opportunities within most companies’ portfolios that if gas prices recover meaningfully, they can ramp up production fairly easily,” he says.
Such a scenario suggests investors willing to ride out a rocky 2012 may find plenty of opportunity among companies in the sector, which has been trading at multi-year lows.
“Some people have an intermediate-term bearish view and want nothing to do with anything associated U.S. natural gas,” says Kurt Hallead, co-head of Global Energy Research at RBC Capital Markets in Austin, Texas. “The contrarians say that when everything’s been beaten down because there’s excess supply of natural gas and the economics of drilling are so lousy — well, when everybody else wants to get outta' Dodge, I want to get in."
http://www.cnbc.com/id/47280041?__source=yahoo|headline|quote|text|&par=yahoo
The US will close 30 refineries by 2020 due to collapsing demand: Verleger
BeantwoordenVerwijderenMichael Allan McCrae | June 20, 2012
Noted oil economist, Philip Verleger, says the US is moving to energy independence because of the recent innovations in oil production and demand destruction in the country.
"Gas consumption in the US is falling at 6% per year. Truckers are moving to LNG [liquid natural gas] so that diesel is falling. So the only part [of the economy] that will have strong demand is airlines. The rest is going away," said Verleger in an interview with Bloomberg Surveillance.
"By 2020 that means we will have to close 30 refineries. It's going to be very severe, and the oil industry is going to go through another restructuring."
Verleger says the US will become a low cost country for energy production because of entrepreneurs and innovation within the industry, namely hydraulic fracturing.
"It has given us this huge bounty," says Verleger.
In the short-term, Verleger says cheap gas is on the way with retail prices at the pump dropping well below $3 a gallon by November because Saudi Arabia wants to prop up the world economy; it's also playing geopolitics.
Cheap oil helps Europe and the global economy, and low prices, says Verleger, also squeeze Iran.
"Everybody ignores it but the Saudis are furious about Syria," says Verleger.
"The king made a very rare speech in February blasting China and Russia for their veto in the UN.
"OPEC is Saudi Arabia. It is a dominate firm monopoly, the way economists think of it. The Saudis set the tune. Russia says it is not part of OPEC, and it will not comply, but the Saudis can make them comply."
Verleger was professor of management at the University of Calgary. He is now owner and president of PKVerleger LLC.
Statoil's Recent Discoveries Give It Excellent Position In Asia
BeantwoordenVerwijderenJune 26, 2012 |
On June 14, 2012, Statoil ASA (STO) announced a second high impact discovery in Tanzania's Block 2. This comes directly on the heels of the company's enormous Zafarani discovery which is located a mere 16 kilometers (approximately 10 miles) away. This new discovery, dubbed Lavani, has a preliminary resource estimate of 3 trillion cubic feet of gas in place. Statoil also increased its resource estimate for the aforementioned Zafarani well due to a recently drilled sidetrack. This added another 1 trillion cubic feet of gas in place, bringing the total estimated size of Zafarani up to 6 trillion cubic feet of gas in place. Tim Dodson, Statoil's executive vice president of exploration, had this to say about the Lavani discovery and the increase in the Zafarani resource estimate:
"The result from Lavani, which is only 16 kilometres south of our recent Zafarani discovery, confirms the high potential in Block 2. We are also pleased to announce that the recently drilled Zafarani sidetrack added another 1 Tcf of gas in place. This is in addition to the up to 5 Tcf announced in February. The results so far mark an important step towards a possible natural gas development in Tanzania."
Statoil has had great success in exploration since the beginning of last year. Statoil has had seven high-impact discoveries (defined as a discovery with at least 250 million barrels of oil equivalent or 100 million barrels of oil equivalent net to Statoil) over the past fourteen months. These seven high-impact discoveries are:
Lavani In Tanzania's Block 2
Zafarani in Tanzania's Block 2
Skrugard in the Barents Sea
Havis in the Barents Sea
Johan Sverdrup (formerly known as Aldous/Avaldnes) in the North Sea
Peregrino South in Brazil
Pão de Açúcar in Brazil
One important factor to note is that more than half of these high-impact discoveries are located outside of Statoil's home country of Norway. This serves to illustrate Statoil's recent focus on expanding its international production. Last year, I stated in an article here on Seeking Alpha that Statoil's management has placed a high priority on international expansion because the company's historical base in the North Sea and on the Norwegian Continental Shelf is expected to see significant production declines beginning in 2020. The Norwegian Petroleum Directorate, meanwhile, expects that Norwegian oil production will continue to fall going forward. Recent technological advances and new discoveries have increased optimism in the area, however, and so some of these assumptions and predictions may need to be revisited. Regardless, diversification of its production base remains a major priority for Statoil.
The enormous size of the Block 2 gas fields offer opportunities for Statoil to tap into the profitable and growing Asian natural gas market. The opportunity here is similar to the one that Eni (E) has with the Mamba North and South fields in Mozambique except that Eni's fields are much larger.
2)
BeantwoordenVerwijderenTanzania is located on Africa's eastern shore, bordering the Indian Ocean and located directly north of Mozambique. This location on the Indian Ocean provides for easy and direct shipping to Asia. Additionally, natural gas is in great demand in Asia as indicated by the fact that natural gas prices in Asia are significantly higher than in either North America or Europe.
In a previous article (linked above), I discussed how natural gas is a growth industry in Asia. The U.S. Energy Information Agency projects that Asian OECD-member nations will increase their consumption of natural gas by 1.0% annually between 2008 and 2035. In addition, non-OECD member nations in Asia are projected to increase their natural gas consumption by 3.9% annually between 2008 and 2035.
An article published on June 15 in The Economic Times discusses a major reason why natural gas prices in Asia are so high: the tight supply. According to the article,
"Asian demand for LNG (liquid natural gas) has increased substantially in the last year due to the shutdown of Japan's nuclear power generation, which it tries to make up for with fossil fuels such as LNG and fuel oil."
In effect, demand for LNG is up in Asia due to Japan requiring it for the production of electricity. This same article goes on to predict that the tight supply in the Asian natural gas market will persist until at least 2014, when various projects in Australia will commence exports.
Statoil's position in Tanzania gives the company an excellent position to profit off of the high and growing demand for natural gas in Asia. The major wildcard here is Australia. The country is expected to become the leading exporter of natural gas by 2016 and is expected to see its natural gas production and export capacities grow significantly due to a series of projects that will come online beginning in 2014. Given the time that it takes to bring an offshore natural gas field online and into a production state, Statoil will not be able to begin exporting gas from this field to Asia by 2014. Therefore, the big question is what effect Australia will have on Asian gas prices. Either way though, the discovery does present an opportunity for Statoil. Asia is thirsty for natural gas, with demand expected to double over the 2010-2025 period.
Disclosure: I am long STO.
http://seekingalpha.com/article/683291-statoil-s-recent-discoveries-give-it-excellent-position-in-asia?source=yahoo
Piekt de vraag voor de olieprijs piekt?
BeantwoordenVerwijderenEen rapport, getiteld "Oil: The Next Revolution" van het Belfer Centrum voor Wetenschap en Internationale zaken, verbonden aan de Harvard Kennedy School, heeft veel aandacht gekregen vanwege de dramatische conclusie dat de wereldwijde capaciteit van olieaanbod veel sneller zal groeien dan de consumptietoename, wat kan leiden tot een overvloed aan overproductie en een scherpe daling van de olieprijs. In 2020 schatten de onderzoekers dat de extra productie 17,6 miljoen vaten per dag kan bedragen, vergeleken met de huidige capaciteit van 93 miljoen vaten per dag.
Voor het bereiken van een dergelijk productieniveau moet de olieprijs boven de 70 dollar per vat blijven, om het aanboren van nieuwe bronnen winstgevend te laten zijn, zoals olie uit schalierotsen, teerzanden en diepwaterwinning. Het grootste deel van de productiegroei zal komen uit Irak, de VS, Canada en Brazilië. De VS springt er in het bijzonder uit, omdat het de op één na grootste producent kan worden na Saoedi-Arabië en de helft van de eigen behoeften kan produceren tegen het einde van dit decennium.
Deze voorspellingen, samen met een voortdurende stijging van de bewezen reserves in de wereld, die volgens BP genoeg zijn om nog eens 54 jaar in de behoeften te voorzien, rechtvaardigen een verschuiving van de discussie over een piek in de olieprijs naar een piek in de vraag, omdat voortdurende technologische verbeteringen en de overstap naar alternatieve energie kunnen leiden tot een groeiende vraag vanuit de opkomende economieën, die mogelijk meer dan voldoende een verminderde vraag vanuit de OESO compenseert.
Ole Hansen is grondstofstrateeg bij Saxo Bank. Hij is specialist op het gebied van grondstoffen: energie, (edel)metalen en landbouwproducten.
http://www.telegraaf.nl/dft/goeroes/olehansen/12478526/__Heet_weer_VS_jaagt_prijzen_omhoog__.html