Ah yes, not enough coffee for me earlier. Realised I had forgotten to factor in the Wyndham transportation costs, (which we know are at least A$10/b higher than trucking to Broome.) Obviously Broome still costs something, but I would be guessing - could probably use A$12-15/b I don’t really have any idea, but let’s just be conservative and use A$10/b for transport, as we know it’s at least that:
A$40/b profit at 2000bopd when Brent is US$60@75c = A$80/b
Of which, US$6/A$8 is the FOB Wyndham discount, A$10/b (min) is transport costs and A$40/b is stated profit margin, so operating production costs are what’s left, ie A$22/b ... which at 2000bopd over a year is A$16.06m (Using 365 days production for sake of example)
At A$89.80 (ie A$82 after deducting FOB Wyndham A$7.80 @ US$6@77c) at @3000bopd, annual revenue is A$89.79m. Less $16.06m is A$73.73m profit. That’s more like it.
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