Post by
halitosis8 on Aug 17, 2021 12:05am
one effing negative
I really only see one negative in the report, or in the NR, actually. They anticipate lower production in H2. Apparently that is what drove VET down relative to the other plays. It doesn't make sense, but that's all that I can find:
NR Aug 16 PR Newswire
Production levels averaged in excess 86,300 boe/d in 1H 2021 but are expected to moderate in 2H 2021 due to planned maintenance across several of our operating jurisdictions, including extended turnarounds in Ireland and Australia. Our 2021 production guidance of 83,000 to 85,000 boe/d remains intact and our E&D capital budget remains unchanged at $300 million; however, we may still consider adding up to $50 million of incremental capital in Q4 2021 if commodity prices remain supportive. We have several projects lined up and ready to execute should we decide to invest incremental capital in Q4 2021; however, any new production associated with these projects would not contribute to 2021 volumes.
Comment by
Oldnagger on Aug 17, 2021 3:43am
On the positive side, just about the whole industry will be taking increased shutdowns during H2 since a lot of shutdowns last year were deferred due to Covid 19. On the negative side, i would presume that many of the industrial users o petroleum products will also need extended shutdowns !!