Bwe har holdt seg uforskammet bra i år målt mot oljeprisen og børsuroen. Oljeprisen er så lav at de går knapt breakeven i Brasil nå. Virker som det er lite kjøps interesse, men at de som er inne nå heller ikke slipper aksjene billig. Mange triggere som kan sette fyr på oppturen her.

Still no results for Bourdon, still drilling towards the horizon. This is now pretty exiting due to current circumstances in the world... And no FID for Maromba, they are obviously on wait and see mode. Which is smart now...

Voldsomt fall i aksjekursen nå. Skulle tro at de hadde boret en tørr letebrønn på Bourdon. Noe de absolutt ikke har gjort.

16 april har BWE har sin 1 kvartal 2025 presentasjon.

Trump anbefaler å kjøpe aksjer nå.

https://www.dn.no/bors/usa/wall-street/bors/det-svinger-pa-wall-street/2-1-1805196

BWE holder på å optimalisere produksjonen på Golfinho og breakeven vil bli redusert.

Har han blitt aksjeanalytiker også nå da? Noe så useriøst.

https://investornews.com/energy-oil-gas-uranium/namibia-africas-new-oil-frontier/

Supernova sin business modell er:

The company’s business model is to acquire large working interests in deepwater blocks in the Orange Basin and Walvis Basin, acquire seismic data, then reach an farm-out agreement with a super major that could include large cash consideration and carried interest in future wells.

Håper BWE gjør en farm-down med Equinor. Det er ikke så langt fram at de skal bore på Kudu så det er ikke så usannsynlig at en slik avtale kan materialiseres før boring. Er det stor sannsynlighet for oljefunn er det veldig bra å vente.

Recon Africa med nyheter i dag, De er på plan til å starte å bore Prospect 1 i 2 kvartal i år.

Det er en av de største og mest attraktive prospektene de har.

https://finance.yahoo.com/news/reconafrica-provides-drilling-prospect-100000161.html

Not what we are waiting for but progress

BW Energy makes Final Investment Decision for the Golfinho Boost project in Brazil


BW Energy is pleased to announce final investment decision (FID) for the Golfinho Boost project, aiming to increase uptime, reduce operating expenses and add approximately 3,000 barrels per day of incremental oil production from 2027 at the Golfinho field offshore Brazil.

The project includes multiple measures aimed at boosting production efficiency and increasing recoverable reserves by approximately 12 million barrels. The measures include upgrades to the subsea boosting system by replacing gas lift with Electrical Submersible Pumps (ESPs) at the seabed, reopening of shut-in wells, umbilicals replacement, improved field logistics and FPSO capacity enhancements. The total investment budget is USD 107 million.

“BW Energy continues to strengthen its position in Brazil through targeted measures on the Golfinho field to increase production, uptime and operational independence. The planned low-risk enhancements to field assets and operations offer very attractive returns and are expected to help unlock material long-term value creation for the company and its stakeholders,” said Carl K. Arnet, the CEO of BW Energy.

The Golfinho field is in the Espírito Santo Basin with water depths between 800 and 1,700 metres. BW Energy is the operator with 100% working interest in the Golfinho licence following the August 2023 acquisition of the Golfinho and Camarupim Clusters. Hydrocarbons are produced to the FPSO Cidade de Vitória, which BW Energy acquired and has operated since November 2023. The field has been producing since 2007.

More information on the Golfinho Boost project will be shared in connection with the first quarter 2025 earnings release and presentation to be held at Hotel Continental in Oslo, Norway, on 5 May.

https://www.offshore-energy.biz/oil-uplift-coming-up-next-on-brazilian-fields-horizon/

Bare å sette champagne til kjøling, og møte på hotel continental 5.mai.
107 musd….. noen som har sett litt på dette estimatet?

Øker med 3.000 fat / dagen - ca 1 million fat/år. I tillegg øke oppetiden og redusere opex. De kjøpte ett asset som ikke funket veldig bra og betalte deretter i sin tid. Tror dagens investering må ses opp mot det og ikke stand alone. Blir spennende å se resultatet. Klarer de forvalte dette like bra som dussafu så kan det bli utrolig bra.

"With 1.6 million barrels of storage capacity, the FPSO Cidade de Vitoria can produce over 100,000 barrels of oil a day and comes with additional capacity for gas production and compression. "

Question is; isn't this FSPO a bit of an overkill for this field?

BW Energy will publish financial figures for Q1 2025 and host a presentation at Hotel Continental, Oslo, on Monday, 5 May 2025.
Net production to BW Energy was 3.2 million barrels of oil (mmbbls) in Q1 2025, equal to 36,000 bbls per day, from the Dussafu licence in Gabon (73.5% working interest) and the Golfinho field (100% working interest) in Brazil.

Volume (mmbbls) Q1 2025 Q4 2024
Net Production 3.2 3.1
Dussafu 2.6 2.5
Golfinho 0.7 0.6

Net volume sold 3.7 3.2
Dussafu* 3.2 2.7
Golfinho 0.5 0.5

Average realised price (USD/bbl)
Dussafu 74.8 72.5
Golfinho 75.0 83.5



*Includes State Profit Oil and DMO deliveries

DUSSAFU

Record quarterly production since inception
Eight producing Hibiscus / Ruche wells, and all Tortue wells on-line
Q1 production availability ~93% on FPSO BW Adolo, and ~99% on MaBoMo
3 liftings to BW Energy, 1 lifting to GOC / State according to plan
Operating cost1 of USD 9.9/bbl
Net volume sold (basis for revenue recognition), included 65,000 bbls of DMO deliveries and 320,889 bbls of state profit oil, with an over-lift position of 350,893 bbls at period-end
Takeover of BW Adolo FPSO operations ongoing with planned completion of transition period in Q2 2025
Substantial oil discovery with good reservoir quality made on the Bourdon prospect with initial data indicating the potential for establishing a new development cluster with a production facility
GOLFINHO

Inventory at period end of 597,750 bbls
Operating cost1 of USD 42.2/bbl primarily due to increased production
Production positively impacted by resumed gaslift after completion of Petrobras maintenance
Q1 production availability ~84% on FPSO Cidade de Vitória
Final investment decision (FID) made for the Golfinho Boost project aiming to increase uptime, reduce operating expenses and add approximately 3,000 barrels per day of incremental oil production from 2027
MAROMBA

BW Energy expects to announce FID on the Maromba development project within the next few weeks
HEDGING, LIQUIDITY AND DEBT

Oil hedging: Q1 net loss of USD 0.9 million from oil derivatives (USD 2.1 million unrealised loss and USD 1.2 million realised gain)
Period-end cash balance of USD 286 million vs. USD 221 million end-December 2024, with the change reflecting cash flow from operations, debt repayment and investments
Entered into a new and increased Dussafu RBL facility
Period-end gross debt of USD 583 million includes MaBoMo lease, Dussafu RBL, Golfinho prepayment facility and bond debt

https://www.bwenergy.no/press-releases/2025/q1-2025-operational-update/

Operating cost1 of USD 9.9/bbl

That has to be wrong. I assume that they mean 19,9

Yes, it sounds strange. Also this announcement came day earlier than in the Financial calender. I hope they have not slip out by accident preliminary version....

Operasjonell kost inneholder ikke følgende:

1) Operational costs exclude royalties, tariffs, workovers, domestic market obligation purchases, production sharing costs in Gabon, and incorporates the impact of IFRS 16 adjustments

Mulig feil da det står1 etter costs i setningen. 1 tallet kan ha på en eller annen måte kommet inn her kanskje ved at data er kopiert fra Excel til Word.

Ser at de oppgir produksjonen til 2,6 mill barrels på Dussafu og 0,7millioner barrels på Golfinho som blir totalt 3,3millioner barrels. De har 3,2millioner barrels. De burde hatt 2 siffre etter komma for å få dette rett.

Ingenting om Kudu. Tolker det som mulig forhandlinger om farm-down da de ikke vil si noe om den planlagte boringen på Kudu.

Rhino funnet olje i 2 letebrønn i lisens 85. Skal teste brønnen.

Fra Upstream:

Iain Esau
Africa CorrespondentLondon

Published 16 April 2025, 13:52
Cape Town-based independent Rhino Resources has hit hydrocarbons with its latest exploration well offshore Namibia, according to multiple sources.

Although it is too early to know if this latest Orange basin find is commercial, the news will be welcomed by Namibia President Netumbo Nandi-Ndaitwah, who came to power last month.

The Capricornus-1X exploration well spudded two months ago in Petroleum Exploration Licence 85 where Rhino is partnered by state-owned Namcor plus BP and Eni through their Azule Energy joint venture.

BW Energy is pleased to announce that second sidetrack DBM-1 ST2 well has confirmed the substantial oil discovery with good reservoir and fluid quality of the Bourdon prospect in the Dussafu Licence offshore Gabon, announced on 7 March 2025. Management estimates indicate 56 million barrels oil in place of which approximately 25 million barrels are considered recoverable.

“The appraisal well confirms the potential for establishing a new development cluster with a production facility following the MaBoMo blueprint. We expect at least four producing wells,” said Carl K. Arnet, CEO of BW Energy. “We continue to successfully expand the Dussafu reserve base which, together with multiple additional prospects yet to be to be drilled, will support long-term production and value-creation in Gabon.”

Initial data shows that oil from Bourdon field has the lowest viscosity of the Dussafu discoveries measuring an average of 3.5 centipoise (cp), compared to 5 cp and 7 cp for the Hibiscus / Tortue and Ruche fields, respectively.

Evaluation of logging data and formation pressure measurements confirm approximately 11.2 metres of pay in an overall hydrocarbon column of 35.2 metres in the Gamba formation. The well was drilled by the Norve jack-up rig to a total depth of 4,731 metres.

Bourdon is located approximately 15 kilometres west of FPSO BW Adolo and 7.5 kilometres southeast of the MaBoMo facility. The discovery will enable the Company to book additional reserves not included in its 2024 Statement of Reserves.



For further information, please contact:

Brice Morlot, CFO BW Energy

+33.7.81.11.41.16
ir@bwenergy.no

Interesting they mention the viscosity but nothing about the impact...

Burde ikke brukt ordet signifikant, når de meldte om funnet første gang. En tenker da på at de har funnet mye mer olje enn antatt.

Bra at oljen er veldig tyntflytende. De bør kunne få ut mer olje enn estimert ved en eller annen form for EOR metode.

Uansett Carl Arnet er fornøyd!

Funnet utgjør 7,5kr for BWE.

https://www.finansavisen.no/energi/2025/04/22/8258867/bw-energy-bekrefter-betydelig-funn

14.3 ble det anslått 30 m, så dette er innafor.

Nabolisensen til Kudu i sør.

«Rhino's Namibia discovery flows 11,000 barrels per day of light oil
Drill stem test operations on Capricornus-1X probe showed 'limited associated gas.

Rhino Resources has revealed test results from its Capricornus-1X discovery well offshore Namibia, with the probe flowing at least 11,000 barrels per day of light oil, with limited associated gas, from a Lower Cretaceous pay zone.

Upstream reported last week that the probe in Petroleum Exploration Licence (PEL) 85 had hit hydrocarbons, but details about exactly what was found were scant at that time.
On Thursday afternoon, however, privately-owned Rhino said in addition to wireline acquisition, a production test had been completed across a 38-metre net oil-bearing reservoir.«

https://www.upstreamonline.com/exploration/rhinos-namibia-discovery-flows-11-000-barrels-per-day-of-light-oil/2-1-1810772


https://www.upstreamonline.com/exploration/namibias-top-oil-and-gas-official-very-very-encouraged-by-latest-orange-basin-discovery/2-1-1810680

Og BWE skal bore i september/oktober. Det har kanskje vært kjent en tid nå.

https://energycapitalpower.com/namibia-bw-energy-to-drill-new-gas-well-by-october/

Ser fram til prognose på størrelse og funn sannsynlighet på første brønn de skal bore.

Veldig lovende at Rhino har funnet olje på lisensen sør for Kudu.

Kommer nok mer informasjon 5 mai.

Rhino Resources er ikke børslistet. Blir nok en bra gevinst på investorene som eier selskapet, når de kommer på børs.

The Orange Basin holds significant geological similarities to Brazil’s Campos Basin, positioning it as a high-potential frontier for offshore exploration, according to Namibia Energy Corporation Founder, Marcio Mello.

https://energychamber.org/namibias-orange-basin-could-match-brazils-campos-production-says-nec/

https://newsweb.oslobors.no/message/644694

OTC Markets Group Welcomes BW Energy Limited to OTCQX
NEW YORK - OTC Markets Group Inc.
(https://www.otcmarkets.com/stock/OTCM/quote?utm_source=Press%20Release&utm_medi
um=Press%20Release&utm_campaign=New%20OTCQX%20Company) (OTCQX: OTCM), operator
of regulated markets for trading 12,000 U.S. and international securities, today
announced BW Energy Limited
(https://www.otcmarkets.com/stock/BWEFF/quote?utm_source=Press+Release&utm_mediu
m=Press+Release&utm_campaign=New+OTCQX+Company) (Oslo Bors: BWE; OTCQX: BWERY,
BWEFF), a growth-focused oil and gas company, has qualified to trade on the
OTCQX® Best Market. BW Energy Limited upgraded to OTCQX from the Pink® market.