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clock Created with Sketch. 18/03/15
21:44
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Originally posted by Ya
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Time to focus on Conoco, as enough has been discussed about Cairn.Portfolio: Libya which currently has its dramas given the civil unrest & disruptions at the Es Sider Oil Terminal. Frequent shutdowns affect their sales & cashflows (& subsequently their costs, more on this a bit later).Angola using the drillship Ocean Rig Athena last year. The first well Kamoxi-1 in Nov'14 was dry, cost them US$140mil net. Currently drilling Omosi-1 & have 2 more to go. The drillship is contracted till 2017.Senegal . 2 out of 2 discoveries should b good enough firstup, with more drilling to come later in 2015.Resource base 242 mmboe in Proven developed & undev oil & gas .204 mmbbls in Oil & 227 bcf in Gas reserves. Libya is the only producing asset on hand.Costs US$6.68/boe & US$11.7 .2014 as they sold 2 producing assets. 2014 costs were US32.2/boe (includes production costs, tax & DDA).35% of 330 mmbbls (ie 115.5 mmboe ). Their farmout details with Cairn weren't completely released, think they have the option to become Operator at some stage if they want to.
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Just want to chip in regarding Libya, in their latest March 17 release, (2015 to 2017 Capital Budget), seems like Libya is done and dusted for the moment. You would imagine focus would be on Senegal at this stage..http://www.conocophillips.com/newsr...o-2017-Capital-Budget-and-Growth-Outlook.aspx The company's growth outlook excludes production from Libya. ...
Last edited by
ksingh :
18/03/15
(20min delay)