They have started mentioning Whirlwind a lot more lately.
H i All,
It’s interesting to note that Whirlwind is being mentioned as one of the next wells to be drilled by Hurricane. Whirlwind is still 100% owned by Hurricane and was drilled in 2010 & 2011 by Hur with light oil and gas condensate being discovered. The CPR of 2017 gave Whirlwind 179 - 205 million boo at 2C.
See full details of Whirlwind on the link below:-
The 205/21a-5 well was drilled in 2010 and re-entered for testing in 2011, flowing a light oil/gas condensate from an openhole test conducted over a combined Lower Cretaceous limestone and underlying fractured basement interval.
The source of the hydrocarbon is the same as for Lancaster, though the precise composition of the fluid at reservoir conditions remains ambiguous. This well is currently suspended for future appraisal, with options including re-entry for testing or a possible sidetrack being considered.
The Whirlwind structure is approximately 2,000 metres deeper than Lancaster, representing a downthrown terrace from the Rona Ridge. As such, the reservoir properties are broadly consistent with Lancaster, and should a gas export route become readily available then Whirlwind represents an excellent incremental project to the development of the area.
In their 2017 CPR that covers the Rona Ridge assets excluding Lancaster, RPS Energy reconfirmed their earlier assessment of recoverable volumes on the Whirlwind Discovery. Depending on the fluid type (which may be a light oil or gas condensate fluid type due to current sampling uncertainty), RPS attribute 205 MMboe of 2C Contingent Resources in the oil case and 179 MMboe 2C Contingent Resources in the gas condensate case.
Gross (100% basis) and Net Attributable Resources
1C 2C 3C
P1368 (North) Whirlwind* Total (MMboe) 91-98 179-205 301-373
*Range is gas/condensate case - oil case.
I would be surprised if Whirlwind went from concept studies in July 2019 to drilling in 2020. I would expect Whirlwind to be a candidate for a 2021 campaign. HUR had to make a decision to drill or drop Typhoon licence, they decided to drop. I don`t think they are currently under pressure from the OGA to drill Whirlwind, so I expect the studies to continue so as to firm up a 2021 drill location.
If Spirit confirm they are committed to develop GWA , then a dedicated FPSO will move to GWA field. This will free up around 10,000 bpd capacity on the Aoka Mizu, which can be filled by an additional producer on Lancaster and/or Halifax oil fields.
Only a couple of days to wait before the big news starts to flow.
I’m not expecting anything to happen with Whirlwind any time soon.
After the AGM I’d be surprised if it wasn’t to happen soon, it seemed to be an integral part of their 100 million barrels AGM statement.
Worth posting this article on the GLA thread.
Fully expect a GLA two well campaign in 2020, one well Halifax and one a producer at Lancaster, + an early agreement for a further GLA FPSO to be ready in 2 to 3 years time. Three more GLA wells to be drilled in 2021 would give 7 wells for the two FPSOs.
Better to drill than to use the cash to buy back the convertibles, which would at today`s sp would cost about £190m so just pay the £12.75m pa interest and use the money to drill?
One or two hints that HUR may be going to issue RNS on the above this week. My post including the article above gives a good background to what is likely to happen, and perhaps the initial stage of FFD" will be announced this week. Likely we will get to know how they intend to fund this.
I have the 6th oil lift penciled in for next weekend 9th/10th November.
We shall see.
After todays update, looks like it is one GLA well in 2020 at best. Just depends if HUR can obtain a very quick OGA approval for the drilling in Spring 2020 to make use of the now nearly redundant rig.
If the new Government really do want to support British industry, then a prompt OGA decision will ensure millions of £ss are spent in the UK economy. We know at the end of 2019 HUR will have $150 million free cash and from Feb 2020 should be generating $25 million per month from GLA oil production. So there is enough money to drill this well.
As we know Rona Ridge and the GLA is where HUR`s real value lies.
Ops update today confirms HUR want to drill another production well at Lancaster this year. It will produce from a separate part of the field from the current two production wells. Further details in February I hope.
Watch for Skandi Hera (anchor handling capable) leaving Aberdeen this weekend. Looks as if HUR have chartered it. Its destination and work co-ordinates should indicate whether the first rig action will be at Lincoln or Lancaster.
Skandi Hera leaving Aberdeen now. Destination is Lancaster. Looks as if HUR are going to drill another producer on Lancaster field, we should easily produce 30,000 + bopd from three wells.
I think they would announce something as major as that.
Scandi Hera has arrived at Lancaster and looks to be over the potential drill site now. Its about 1.75 nm north east (about 1 o`clock) from the AM.
The RNS today 6/2/2020 shows that HUR are negotiating with Spririt and Transocean to take part of the rig hire contract on a sole basis to drill another Lancaster well in the next few months. That is good news, because the value for HUR is on the GLA and not the GWA. We are now producing 20,000 bopd we will be offloading again sometime this month, which gives time for the oil price to recover. HUR have sold all the oil for an average price in excess of $60 per barrel, the cash is flowing in. These are great value at 18p to buy. But I dont have the money to buy more!
IMHO DYOR NAI
Good spot from steelwatch on other bb. Looks as if HUR have negotiated a one month contract extension for the PBLJ in October to drill Lancaster 8 well. Decent day rate too. So things are happening behind the scenes.
At least they have a plan
That’s a bit grudging! They have always had plans and more importantly, they are being successfully carried out. The SP does not reflect the success of the company in actually producing oil from what the rest of the industry would said was barren basement. It is hard to tell if the people who sold have called it right or those of us who believe that the SP does not reflect the true worth of this company. As far as I am aware, HUR as a producer is worth many times more than HUR when it had merely an ambitious plan to tap the basement rocks, but the SP is showing the reverse picture: compared to those heady days of `pie in the sky’ dreams when the SP soared, now we are producing, the SP has soured. It is quite
Yes, Flossy, you are, of course, correct.
But I would happily have sold @ 30p and then bought them all back @ 15p.
But you would have been trading on the backs of greedy and frightened (i.e. emotionally driven) punters. You can feel proud that your conscience would not let you exploit these vulnerable people.
Traders can only profit from somebody else’s losses and when the time comes, St Peter would have noted that all your lovely winnings would have inevitably been extracted from unhappy
I can feel my halo growing