1Q18 production was 74.0 mboe/d (68.7 mboe/d excluding 5.3 mboe/d in Pakistan). This is in line with Premier’s budget but below our more bullish expectations of 71.4 mboe/d (excluding Pakistan) as our production forecast for the UK was too high, particularly at Catcher that was constrained at 8.5 mboe/d during the commissioning (GMP FEe: 12.0 mboe/d) and Huntington (8.1 mboe/d vs GMP FEe: 11.0 mboe/d) with shutdown and adverse weather negatively impacting production by 1-2 mboe/d.
16 May 2018
FLASH: Catcher reaches 60 mbbl/d
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FLASH: Catcher reaches 60 mbbl/d
Harbour Energy Plc (HBR:LON) | 281 -8.1 (-1.0%) | Mkt Cap: 2,164m
- Published:
16 May 2018 -
Author:
Stephane Foucaud -
Pages:
2
1Q18 production was 74.0 mboe/d (68.7 mboe/d excluding 5.3 mboe/d in Pakistan). This is in line with Premier’s budget but below our more bullish expectations of 71.4 mboe/d (excluding Pakistan) as our production forecast for the UK was too high, particularly at Catcher that was constrained at 8.5 mboe/d during the commissioning (GMP FEe: 12.0 mboe/d) and Huntington (8.1 mboe/d vs GMP FEe: 11.0 mboe/d) with shutdown and adverse weather negatively impacting production by 1-2 mboe/d.