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Re: Exxon reconsidering several Big Projects- WSJYou got to like a company like High Arctic with HWO as the ticker...Hydraulic Work Over (HWO) unit. In PNG there are 4 LNG projects. #1 PNG LNG currently doing over 8mt/PA controlled by Exxon #2 PNG P'nyang just agreed to develop as expansion to #1 also controlled by Exxon #3 Papau LNG also agreed to with French major Total as lead operator #4 Western Gas Project which is still not ironed out. Kumal Petroleum the state owned company leads with Horizon oil and Chinese company Balang.This will probably be snapped up or major stake sold to Total or Exxon...maybe even Oilsearch?? Regardless of the outcome High Arctic has no debt and they are all customers. They just deployed two 100 man camps and activating rig 115. Revenues coming from this in Q3 but meaningful beginning in Q4. Still trading as if just north American operations alive and ticking. They are in discussions to fabricate an Hydrostatic electric rig with a couple of customers currently here in Alberta. At this share price not a lot to be worried about with meaningful revenues coming in this Q4 from Oct to Dec period for PNG operations and a revitalized Canadian unit chugging along with the major drawback being a lack of experienced workers which all the oil services firms are experiencing right now. Of late there was a lot of moolah pouring into e&p and oil field service stocks but its taking a breather here... I still think most are of the opinion that this is a dead sector and doomed to crash any day now...there is a lot of running room yet and this filling period will pass as not many are selling so buying pressure will return...just a matter of time IMHO |
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Msg # | Subject | Author | Recs | Date Posted |
360557 | Re: Exxon reconsidering several Big Projects- WSJ | TarTransition | 1 | 10/20/2021 3:08:23 PM |