Post by
drunk@noon on Mar 18, 2024 3:05pm
String of 0 loading for days at a time. Likely the result of
the oil spill. Barges being held up until an investigation takes place is a real possibility. I don't know anything,, but I have been waiting for a shoe to drop from this. I am surpirise people aren't more alarmed about it. Especially coupled with the string of 0 production days according to the petroperu loading numbers. I did sell a chunk a ways back and moved it to HME which has made the jump from 1.30 to 1.60 plus range. Unfortunatley I should switch more as HME has a similar free cashflow with 0 risk.
Speaking of risk even before this oil spill F up, production has been servely disappointing, as despite claims of manaagment that the fireld would produce 22-23,000 bopd if unemcumped by exterior stoppoages they were avging sup 17000 for well over a week. With those kind of numbers, they would be lucky to avg 15,000 bopd on a yearly basis taking into account the 4.5 months of 11,000bopd.
If anyone knows why they were avging sub 17000 bopd even before the spill feel free to enlighten me.
This company is soul destroying as they should be minting money with brent over 85 dollars.
Comment by
geezer21 on Mar 19, 2024 12:19am
Hemisphere is producing 3,400 barrels. The share price bumped up to $1.59 but consider selling it now as Hemisphere is way oversold and likely to have a correction. Petrotals dividend is higher.