Spicer

9 Comments

    • StatoilHydro: Bullish on Exploration [view article]
      "It has proven reserves of more than six billion barrels of oil."

      Less than half of it's proven reserves(6 billion BOE) are oil(60% gas/40% oil +NGL). Last years reserve replacement ration was 86%. Not exactly a strong buy signal. STOs future projects include arctic subsea gas and Canadian oil sands, which are going to triple it's production cost per BOE.       Jun 03 11:09 AM
    • Many Forces Converge to Lift Oil Prices [view article]
      A quality article from JK once again!

      These two are from yesterday:
      Bloomberg: "Crude oil production fell 13 percent to 2.767 million barrels a day in April, Mexico City-based Pemex, as the company is known, said today on its Web site. Output a year earlier was 3.182 million barrels a day".
      www.bloomberg.com/apps...

      OGJ: "Pemex said average daily oil production decreased by 9% to 2.875 million b/d over the 3.164 million b/d produced in 2007, while exports fell 13% to 1.484 million b/d and imports of gasoline rose by 18% to 317,000 b/d."
      www.ogj.com/display_ar.../

      I don't know which article is correct, but the drop is definitely significant.

      @ship shape and bristol fashion
      Part of Nigeria's production was temporarily disrupted in Q1 due to rebel attacks.
      May 24 11:36 AM
    • Assuaging Oil Supply Doubts [view article]
      "Certainly this discovery will go a long way toward solving those long term concerns on supply."

      A fascinating discovery indeed. From 115 billion bbls to 350 billion bbls just like that.
      Does that 350 billion refer to OOIP?       May 22 09:13 AM
    • Petrobras is Hoarding the World's Deep Sea Drillers [view article]
      This article is contains a few errors, inspite off the fact that it's mostly a copy-past from a Bloomberg article.

      Noble Corp(NE) is a driller, Noble Energy (NBL) is an E&P company and a spinoff of Noble Corp.

      Atwood doesn't own a single rig that capable of operating at depths above 5000 feet, so what does it have to with Tupi, Petrobras or ultra dep water drilling. Ensco(ESV) has a much greater exposure than Atwood to the (ultra) deep water market.

      "Much of Petrobras' discovery is in oceans at depths of 4-5 miles. Very few rigs on the globe will have capability to drill there. "

      [url=www.bloomberg.com/apps...]From Bloomberg:[/url]
      "The Tupi field is in a region that lies about 250 kilometers (402 kilometers) off the coast of Rio de Janeiro in water as much as 3 kilometers deep. The oil rests a further 5 to 7 kilometers below the ocean floor."
      Thats about 2 miles of water and 3 to 4 miles of rock, sand and salt. So water depth 2 miles, total depth 5-6 miles. As the Bloomberg article you quoted (without quotation marks) states there are current 21 vessels capable of operating in those depths. Plus there are about as many under construction at various shipyards.

      Exxon has a 40% interest in block BM-S-22 in the Santos Basin and is the operator on the block. Try googling BM-S-22. You might find the seismic data on that block interesting.

      [url=www.bloomberg.com/apps...]The original Bloomberg article[/url]       May 16 12:49 PM
    • Global Industries, Transocean Offshore Trade Idea [view article]
      "those big jack up rigs in deep water are expensive!"

      Jack-ups are shallow water rigs.       Apr 13 12:51 PM
    • 25 Top Global Stocks of 2007 [view article]
      "Useless...useles... more useless...."

      Exactly.       Dec 28 08:32 AM
    • Petrobras' Tupi Discovery Will Likely Be Profitable [view article]
      "the Tupi oil discovery is 4 to 5 miles below the ocean floor"

      That would kilometers, not miles, as the picture clearly indicates.

      "Further, there is a need for more Floating, Offloading and Storage Facilities [FOPF] -- which are offshore rigs but based on floating tankers instead of attached to the ground in order to produce the Tupi discovery."

      FSO=Floating storage, offloading FPSO=floating production, storage, offloading       Dec 14 05:58 AM
    • Petroleo Brasileiro: Don't Believe The Hype [view article]
      Not 8 billion BBLS, but 5-8 billion BOE. The Tupi field will reach peak production(>200K BOE) in 10-15 years. Nov 13 05:19 AM
    • 7 Companies Searching to Treat or Cure Parkinson's [view article]
      The developer of Comtan is Orion Pharma of Finland, Novartis merely owns some the distribution rights. May 02 11:25 AM
Loading...
Symbols:
Authors:
Quick Links:
Contribute an Article Become a Seeking Alpha Contributor

Transcripts

More Transcripts»