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29-08-2008, 10:43 PM
#6051
Member
Originally Posted by the machine
a majorhurricane has not hit usa for over 2 years - gustov could be the breaker and moves under way to head off any effect of that
M
Looking at the map how the hurricane could be right over the oil installations at market open
on Monday, it will be interesting to see the market overnight.
I can't imagine any oil traders wanting to be short over the weekend.
Thats a few shorts to close out in one session.
Article on Bloomberg about insurance companies watching in anticipation
http://www.bloomberg.com/apps/news?p...Y&refer=energy.
Also mentions that since insurance is now a lot more expensive than before Katrina, not so many
oil installations are insured adequately any more.
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31-08-2008, 09:16 AM
#6052
Tui oil production
Tui still seems to be producing at an amazing rate.
As at 30 July 1,000,000 BOE had been produced (33,333 BOPD)
As at 27 August 2,100,000 BOE had been produced (36,206 BOPD)
Production since 30 July - 1,100,000/28 days = 39,285 BOPD! if thats not outstanding I don't know what is!!!
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31-08-2008, 09:20 AM
#6053
Forecasts were tellings us we'd be down to 15,000 BOPD.
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31-08-2008, 01:05 PM
#6054
Member
NZOG to release investment plans
http://www.nzherald.co.nz/section/3/...ectid=10529718
extract from the article
4:00AM Saturday August 30, 2008
By Grant Bradley
New Zealand Oil & Gas hopes to release details of new investment "shortly" after announcing a full year profit of $97.2 million on spectacular revenue from its Tui oilfields.
Chief executive David Salisbury said the company was looking to grow but not for the sake of it.
"We have some projects which we would expect would come to fruition shortly and others we had screened out for a number of reasons."
NZOG had not bid for any onshore Taranaki acreage but was looking for exploration opportunities offshore in the province and overseas - believed to be in Australia and south Asia.
"What we are looking forward to is the Government opening up some offshore acreage because we think we'd have a much greater appetite for that. We are looking offshore, we're not looking just at New Zealand," Salisbury said
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31-08-2008, 02:28 PM
#6055
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31-08-2008, 04:31 PM
#6056
gustav now in gulf
Katrina and Hurricane Rita, which followed it three weeks later, wrecked more than 100 Gulf oil platforms, but Gustav could deal a harsher blow.
"This storm will be more dangerous than Katrina," said Planalytics analyst Jim Roullier. "I think this storm will prove to be a worse case scenario for the production region."
Katrina was a Category 3 when its 28-foot (8.5 metre) storm surge burst the levees protecting New Orleans on August 29, 2005, flooding 80 percent of the city. New Orleans degenerated into chaos as stranded storm victims waited days for government rescue and $80 billion (44 billion pounds) in damages made Katrina the costliest U.S. natural disaster.
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31-08-2008, 04:32 PM
#6057
gustav now in gulf
Katrina and Hurricane Rita, which followed it three weeks later, wrecked more than 100 Gulf oil platforms, but Gustav could deal a harsher blow.
"This storm will be more dangerous than Katrina," said Planalytics analyst Jim Roullier. "I think this storm will prove to be a worse case scenario for the production region."
Katrina was a Category 3 when its 28-foot (8.5 metre) storm surge burst the levees protecting New Orleans on August 29, 2005, flooding 80 percent of the city. New Orleans degenerated into chaos as stranded storm victims waited days for government rescue and $80 billion (44 billion pounds) in damages made Katrina the costliest U.S. natural disaster.
NEW ORLEANS (Reuters) - Ferocious Hurricane Gustav moved into the oil-rich Gulf of Mexico on Saturday where it was expected to strengthen and threaten New Orleans after its 150 mile per hour (240 kph) winds cut a swath of destruction through western Cuba.
The Category 4 storm swept across Cuba in a matter of hours and now poses a threat to Gulf oil fields on a projected path that could take it ashore near New Orleans, still recovering from Hurricane Katrina in August 2005.
Forecasters said Gustav's winds had dropped to 140 mph (220 kph) crossing the island, but, like Katrina, it could swell into a catastrophic Category 5 storm, with winds above 155 mph (249 kph), as it surges across the Gulf's warm waters
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31-08-2008, 07:34 PM
#6058
Member
This is getting interesting. From Bloomberg:
.......The New York Mercantile Exchange announced an extended trading session beginning at 2:30 p.m. today because of Gustav...............................
Most U.S. financial markets are closed until Sept. 2 for the Labor Day holiday. Nymex said in an Aug. 29 statement that electronic trading will begin at 2:30 p.m. New York time tomorrow with trades dated Sept. 2.
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31-08-2008, 08:45 PM
#6059
Member
Aha
Originally Posted by dsurf
From PPP - more drilling coming in effort to extend Tui
A comprehensive review and integration of the results of the Taranui1 and
Tieke1 exploration wells, together with the substantial volume of data
obtained from the four Tui Area horizontal development wells, has revealed a
number of opportunities for additional appraisal/exploration drilling near to
the existing Tui Area producing fields - with a total of five prospects
having been identified close to Tui, which are respectively named Tui SW,
Kahu Crest, Tui NE, Kahu Stratigraphic and Tui SE.
Any success in this area will enhance the use of existing Tui Area
facilities; including multi level tiein points and spare processing capacity
on the Umuroa FPSO. In the event of commercial discoveries, within these
prospects, there are the smaller accumulations which could each be produced
from one horizontal well, while Kahu Stratigraphic would require 3 wells.
PPP and its Tui Area partners are now considering the scale and timing,
subject to rig availability, of a possible future drilling campaign.
This is very significant. First hint of what's in the wind.
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31-08-2008, 09:47 PM
#6060
mother of all storms
Originally Posted by sideline
This is getting interesting. From Bloomberg:
.......The New York Mercantile Exchange announced an extended trading session beginning at 2:30 p.m. today because of Gustav...............................
Most U.S. financial markets are closed until Sept. 2 for the Labor Day holiday. Nymex said in an Aug. 29 statement that electronic trading will begin at 2:30 p.m. New York time tomorrow with trades dated Sept. 2.
New Orleans Orders Evacuation as Gustav Reaches Gulf (Update2)
By Jerry Hart and Brian K. Sullivan
Aug. 31 (Bloomberg) -- New Orleans ordered residents to evacuate as Hurricane Gustav swelled into a Category 4 storm that may strike the U.S. Gulf Coast harder than Katrina did three years ago.
``Tonight you need to be scared; you need to get your butts out of New Orleans now,'' Mayor Ray Nagin said at a press conference late yesterday. ``This is the mother of all storms. I am not sure we have seen anything like it.''
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