MikeOilInvestThomas @mike_oil_invest Twitter profile

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MikeOilInvestThomas

@mike_oil_invest

11 months

Buying $RIG daily. Won't stop. It's dirt cheap at these levels, and nowhere near "cheesecake" prices. The market is closed on the weekends? No problem. Double up my Monday & Friday Purchases, to make up for it. Using basic value investing, to get ahead of the Hot Money.

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MikeOilInvestThomas

@mike_oil_invest

6 months

"Noble said leading edge dayrates for tier-1 drillships are now approaching or eclipsing US$500,000 per day" $NE $VAL $RIG

Noble’s new contracts valued at US$215 million | OilNOW

Noble Corporation said, in its first quarter earnings release, that new contracts since its prior-quarter update totaled US$215 million (including mobilizat ...

oilnow.gy

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MikeOilInvestThomas

@mike_oil_invest

10 months

Big Back Offense Value Investing: $RIG Today's Valaris announcement is good for them, and the offshore drilling industry in general. My view is that sooner or later, the IOCs will run out of other rig options, and will be knocking on Transocean's door. I can wait.

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MikeOilInvestThomas

@mike_oil_invest

6 months

Big Back Offense Value Investing: $RIG As previously stated about Transocean, reality needs to catch up. This is currently a value position, not a momentum position as some desire. The market has presented another great opportunity to add to the position. The payoff awaits.

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MikeOilInvestThomas

@mike_oil_invest

5 months

The title of the article, already says good things about $BORR, but inside: "The average day rate for the rigs in operation is around $183,000. The company was also able to get its first-ever contract exceeding $200,000 per day in the second quarter."

Borr Drilling racks up more work for two rigs - Splash247

The Oslo and New York-listed offshore driller Borr Drilling has revealed several new deals in the company’s latest fleet status report. The rig owner previously secured a two-month contract extension...

splash247.com

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MikeOilInvestThomas

@mike_oil_invest

6 months

Highly recommended reading, if you want to understand the true value of $RIG 8G/20k. And another thank you to @TommyDeepwater for informing us regarding Transocean's 7G's that are designed to be upgraded.

Javier Blas

@JavierBlas

6 months

LONG-READ COLUMN: The US Gulf of Mexico is about to boom again -- 15 years after the Deepwater Horizon oil spill. BP and several others are racing to develop the new frontier in the basin: ultra high-pressure, high-temperature oilfields. #OOTT @Opinion

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MikeOilInvestThomas

@mike_oil_invest

6 months

Capital spending on all-new deepwater drilling is poised to hit a 12-year high next year... Investment in all-new and existing deepwater fields could hit $130.7 billion in 2027, a 30% jump over 2023 $XOM $TTE $SHEL $CVX $RIG $VAL $NE

Big Oil Finds More to Love in Deepwater Exploration Fields

As Big Oil returns this week to the industry's annual showcase for offshore energy projects and equipment in Houston, deepwater discoveries off Guyana…

www.oedigital.com

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MikeOilInvestThomas

@mike_oil_invest

11 months

Thoughts on $RIG: What we have here, is a high stakes porker game between Transocean and E&P. Each side is waiting to see who blinks first, & capitulates. RIG is leveraging that E&P wants to start projects. E&P is leveraging that RIG needs CF soon. I ante up pullbacks & stack $.

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MikeOilInvestThomas

@mike_oil_invest

11 months

$RIG, summary of yesterday's input: 1. 2024-2025 pivotal years. 2. Bankruptcy fear: Deepwater Insight article put this to bed. 3. OPEC+ fear: Passed. 4. Year end CAPEX budgets: The next step. 5. Followed by contract negotiations. 6. And then announcement of deals.

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MikeOilInvestThomas

@mike_oil_invest

5 months

It was this move by ARAMCO, that allowed the opening to establish a good position in $BORR. Now it's starting to payoff. Viewing this along w/ $TDW $FTI as a series of progressing events in offshore, that says the beast is waking up. $NE $VAL $RIG $DO

Saudi Aramco suspends deals for Borr and Arabian Drilling jackups - Splash247

Two more offshore drillers have received a contract suspension for jackup rigs in Saudi Arabia. The latest ones are Borr Drilling and Arabian Drilling. Borr Drilling said in an Oslo Bors filing that...

splash247.com

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MikeOilInvestThomas

@mike_oil_invest

6 months

$RIG $VAL $NE $SDRL $DO $BORR

Dayrates Rise - Will More Energy Companies Buy Offshore Rigs?

The price to rent an offshore rig hit a nine-year high last year with jackups, semisubmersibles and drillships costing on average $118…

www.oedigital.com

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MikeOilInvestThomas

@mike_oil_invest

7 months

Big Back Offense Value Investing: $RIG Welcome back to the party Hot Money. We are on point again. Now we need Thigpen and Co to get a cold stacked RIG reactivated. That's the start of the real cheesecake. Energy fund additions by Fidelity's $FSENX will follow.

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MikeOilInvestThomas

@mike_oil_invest

11 months

Nice. $RIG has a new contract, and hot money doesn't like it? This is an oil value investor's DREAM! Give me some more of these cheaply priced "credit default swaps".

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MikeOilInvestThomas

@mike_oil_invest

5 months

"More exploration drilling possible around Venus area offshore Namibia" $TTE $RIG $VAL

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MikeOilInvestThomas

@mike_oil_invest

5 months

OK, I looked around. No news. Is someone taking a position in $RIG?

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MikeOilInvestThomas

@mike_oil_invest

6 months

While Hot Money and others view $RIG as garbage right now, the bigger picture is showing me an absolute diamond in the rough.

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MikeOilInvestThomas

@mike_oil_invest

6 months

Big Back Offense Value Investing: $RIG Putting cash together, seeing if the market presents a good buying opportunity over the next few weeks. Earnings numbers basically a nothing burger, but expected. Still awaiting catalyst.

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MikeOilInvestThomas

@mike_oil_invest

10 months

Big Back Offense Value Investing: $RIG Currently a 3 way tug of war, between the long term value investor, the short term Hot Money trader, and the economy/oil industry pessimists. Some have the view, that it's too early, others FOMO. Me personally: Fear I Don't Have Enough.

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MikeOilInvestThomas

@mike_oil_invest

6 months

Orange Basin Namibia/SA, an Alternate View: $RIG $VAL $FTI $TDW $SLB $HAL $NOV $OIH etc, etc.. are looking at an absolute GOLD MINE of oil services activity for DECADES. The portfolio will definitely amplify the positions.

MikeOilInvestThomas

@mike_oil_invest

6 months

$TTE provided a clue recently, expanding their vast acreage holdings in the Orange Basin South Africa. Combining w/Namibia, & if this is a lane of crude oil, there could be projects there for DECADES. It all depends on economic conditions, how busy $RIG $VAL will become. $SHEL

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MikeOilInvestThomas

@mike_oil_invest

6 months

It's becoming obvious that Namibia $TTE Venus & $SHEL Jonker will be top candidates for 2024 FID. At least 1 rig for each project. The big question is about the further appraisal & exploration campaigns, while developments progress. 1 rig in each block? $RIG $VAL

GT

@FoamOnTheRunway

6 months

Namibia may need more than 4 rigs 🔽 $RIG

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MikeOilInvestThomas

@mike_oil_invest

8 months

$TTE and it's partner QatarEnergy set up another domino in line, to ignite an offshore drilling frenzy later. I would be a fool not to frontrun the public at these cheap prices. $RIG $VAL

TotalEnergies Takes Operatorship of ‘Promising’ Orange Basin Exploration License

TotalEnergies has signed, together with its partner QatarEnergy, an agreement to acquire participating interests in Block 3B/4B, offshore South Africa…

www.oedigital.com

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MikeOilInvestThomas

@mike_oil_invest

7 months

Looking at different things for 2024 inflection point. So far in the oil markets, these could be leading indicators for what will follow. If there's a rate cut, it's Game On for oil. $XOM $RIG or $VAL: Waiting to see who gets the next big score. Thinking it has to be them.

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MikeOilInvestThomas

@mike_oil_invest

1 year

It's game on, when this happens. Offshore drilling: More cold-stack floaters set for reactivation?

Offshore drilling: More cold-stack floaters set for reactivation?

Helping Maritime Professionals Make Informed Decisions

www.marinelog.com

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MikeOilInvestThomas

@mike_oil_invest

7 months

With their modern JU fleet, $BORR scored some deals. The recent focus on building the position w/temp market psychology weakness, now seems like a great move. Waiting to see how the market responds.

Borr Drilling Nets Close to $160M in Fresh Contracts for Three Jack-Ups

Offshore drilling contractor Borr Drilling has secured work for three of its premium jack-up rigs, bringing in $158.6 million to the company…

www.oedigital.com

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MikeOilInvestThomas

@mike_oil_invest

5 months

“The longevity of the offshore upcycle remains robust,” the report commented, and that upcycle bodes well for offshore drillers and services companies that are “levered to offshore to capitalize on long-term, sustainable growth.” $RIG $VAL $NE $DO

Report: Offshore drillers reporting ‘robust momentum and growth’

Rig contractors are actively engaging with operators on rigs that are not scheduled to roll off contracts for one to three years, says Evercore ISI.

www.offshore-mag.com

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MikeOilInvestThomas

@mike_oil_invest

6 months

'The first was to develop and deliver a safe project enabling 20k technology. “Without 20k, we didn’t have a project,...' $RIG $CVX $TTE

OTC 2024: Chevron discusses keys to Anchor project success

Project director outlines five ‘breakthrough strategies’ that enabled the company to navigate the pandemic, supply chain crises.

www.offshore-mag.com

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MikeOilInvestThomas

@mike_oil_invest

6 months

Simple Math: Friday, $GLPEY $GALP closed at 8.46 per share, with a Market Cap of $13.271 Billion. Brent is trading at 87.07 per barrel. 10 Billion barrels of oil, is the estimate for Mopane-1X, w/GALP 80% WI. That's $696.560 Billion in oil. $RIG $VAL

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MikeOilInvestThomas

@mike_oil_invest

7 months

"drilled by the semisub Transocean Norge" "The Transocean Norge rig has since transferred to the Wintershall Dea-operated Maria Field to drill wells for the Maria Phase 2 project." There has been some GUY telling us about North Sea capable rigs. $RIG

Appraisal drilling leads to upgrade of Adriana discovery offshore mid-Norway

Wintershall Dea Norge and its partners, Petoro, Aker BP and PGNIG, are assessing development options for the Adriana gas-condensate discovery in the Norwegian Sea.

www.offshore-mag.com

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MikeOilInvestThomas

@mike_oil_invest

5 months

Very strange reaction. $NE the aquirer, who has to issue dilutive shares and lay out cash, is being bid up, along w/other offshore drillers. The exact opposite of the usual.

MikeOilInvestThomas

@mike_oil_invest

5 months

Boom! Out if the blue on Monday morning. Things are getting interesting. $NE $DO

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MikeOilInvestThomas

@mike_oil_invest

11 months

Long term oil thinking: Imagine KSA Al-Ghawar is in decline, while at the same time USA shale boom which bailed out oil supply for a decade, is hitting a wall. MM isn't talking about this powerful combo at all. It seriously points to offshore. $RIG $DO Thanks @FChristopher17 .

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MikeOilInvestThomas

@mike_oil_invest

5 months

Big Back Offense Value Investing: $RIG Purchased a block of Transocean. The oil markets aren't reflecting reality. It seems that after the OPEC+ meeting, the oil world became the Twilight Zone.

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MikeOilInvestThomas

@mike_oil_invest

1 year

$RIG Thank you Hot Money, for extending this great sale. This Old Man will be happy to let you have some back, with at least a 100% markup. See you down the line.

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MikeOilInvestThomas

@mike_oil_invest

8 months

Big Back Offense Value Investing: $RIG And the Hot Money game continues. Thank you for more cheap shares. They keep selling. I keep buying. A match made in heaven.

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MikeOilInvestThomas

@mike_oil_invest

5 months

The issue w/trying to post about a long term value investment $RIG, Hot Money "oh you should be putting your money here instead". $TDW has been great, and I do have a position. But how many of these so called "geniuses" took a position at $4.77 5/2020. My bet, mostly NONE!

MikeOilInvestThomas

@mike_oil_invest

5 months

Big Back Offense Value Investing: $RIG Purchased a block of Transocean. The oil markets aren't reflecting reality. It seems that after the OPEC+ meeting, the oil world became the Twilight Zone.

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MikeOilInvestThomas

@mike_oil_invest

5 months

Big Back Offense Value Investing: $RIG Are deeper pockets front running Hot Money? Big thanks to @MugsLuck & @FoamOnTheRunway for their posts linked below.

GT

@FoamOnTheRunway

5 months

Mohn bought another 2M shares at $6 this week. $RIG

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MikeOilInvestThomas

@mike_oil_invest

1 year

Case for offshore drillers. $RIG, $NE, $DO, $VAL, $BORR, $SDRL I wonder how many know that due to the aging fields in Saudi Arabia, that they already went offshore, building 27 artificial islands called Manifa? .

A triumph of engineering, nature and human spirit

Our work at Manifa demonstrates what can be achieved when we apply, determination, and our engineering prowess to delivering solutions to the seemingly impossible.

www.aramco.com

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MikeOilInvestThomas

@mike_oil_invest

6 months

$TTE provided a clue recently, expanding their vast acreage holdings in the Orange Basin South Africa. Combining w/Namibia, & if this is a lane of crude oil, there could be projects there for DECADES. It all depends on economic conditions, how busy $RIG $VAL will become. $SHEL

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MikeOilInvestThomas

@mike_oil_invest

1 year

So Exxon, who is absolutely knocking it out of the park in Guyana with billions in oil discoveries, all of a sudden has a drilling prospect called Bluefin, located 6 miles southwest of gas field Haimara-1, closer to northern Corentyne where Kawa & Wei discoveries are located?

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MikeOilInvestThomas

@mike_oil_invest

7 months

Remember, ARAMCO was the one before stating that under investment in oil production would come back to bite the world. Now they are cutting investment, with rising oil prices. That is partly why I say that we are witnessing a covert OPEC+ oil embargo. $XOM

Ed Finley–Richardson

@ed_fin

7 months

A must-read for the offshore bros. $BORR $VAL by Pareto

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MikeOilInvestThomas

@mike_oil_invest

8 months

Big Back Offense Value Investing: $RIG Stock market reality is that a stock can continue to go down. Risk Vs. Rewards. From recent top of 8.69 to current 5.03. Simple exercise if it climbs back: $6 +19% $7 +39% $8 +59% $8.69 +73% I'm not waiting for some algorithm model.

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MikeOilInvestThomas

@mike_oil_invest

11 months

“Currently, the area is hugely under-explored, with fewer than 20 deepwater wells, compared to thousands of wells offshore in places like the North Sea or the Gulf of Mexico,” -WOW!!!! $RIG $VAL $NE

Deepwater Oil Discoveries Offshore Namibia Generating Huge Excitement

'The projected scale and quality of these reserves give them the potential to generate huge cash flows'.

www.rigzone.com

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MikeOilInvestThomas

@mike_oil_invest

1 year

"Woe is me!" "Time to short it." "Sell it!" Etc, etc. Short term trading crowd: that is the game you picked, and not interested with $RIG, or debate about it. This value investor is asking himself: How is the next batch of cheap oil, going to get discovered? UDW! Where else?

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MikeOilInvestThomas

@mike_oil_invest

8 months

Big Back Offense Value: $RIG Brown bagging the lunch, saving tons of costs to put towards more shares of Transocean. It's that cheap, as my long term value investment. It worth that type of sacrifice. And it's not even 10% of the portfolio. I would be crazy to pass up.

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MikeOilInvestThomas

@mike_oil_invest

10 months

Let me put this out there, so people with questions about my offshore activity is understood: Owned $NE $RIG $VAL $DO $BORR $SDRL $FTI $TDW. Noble is #1 at the moment, thank $XOM Transocean is being focused on. All others are gradually added. I like them all in the long run.

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MikeOilInvestThomas

@mike_oil_invest

7 months

Big Back Offense Value Investing: $RIG Transocean has made a nice recovery from the gutter, after the 8 level sell off. Now it would be nice for it to slow down for reality, to allow business to develop. Gut feeling says Hot Money has something else in mind. Volatility ahead.

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MikeOilInvestThomas

@mike_oil_invest

7 months

The X rivalry continues between the vocal 2 person JU $BORR crew, & the more humble UDW $RIG group, for those sacred "I told you so" bragging rights. Owning both horses here. My bragging bet is w/$34 Trillion debt, will benefit $XOM first. 😁

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MikeOilInvestThomas

@mike_oil_invest

6 months

And keep in mind: That is ONLY Mopane-1X. $GLPEY $GALP just announced a wider explanation campaign in PEL 83. This could match up with, or exceed $XOM in Stabroek Guyana. It's totally mind blowing. $SEI.V $RIG $VAL

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MikeOilInvestThomas

@mike_oil_invest

5 months

Repost #2 to show that deep pockets are going into $RIG.

GT

@FoamOnTheRunway

5 months

Mohn bought another 2M shares at $6 this week. $RIG

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MikeOilInvestThomas

@mike_oil_invest

5 months

Big Back Offense Value Investing: $FTI OPEC+ strategy is spooking the oil markets. Thx market psychology for the great gift. Also added $TDW $SUBCY $HLX $BORR $DO $HAL $SLB $NOV $GLPEY.

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MikeOilInvestThomas

@mike_oil_invest

8 months

Big Back Offense Value Investing: $RIG Hey Hot Money. Has Transocean found a bottom? I've been buying the entire time. Are you going to join the party?

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MikeOilInvestThomas

@mike_oil_invest

10 months

Big Back Offense Value Investing: $RIG Focused on long term w/ the stock. For the short term Hot Money: 1. Enjoy your trade. 2. I don't care about it, go tell someone else.

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MikeOilInvestThomas

@mike_oil_invest

8 months

Offshore blocks in Suriname, Namibia and now Uruguay. Reading into the situation: $CVX sees the writing on the wall. They need to expand beyond shale, GOM & M&A for future growth. $RIG keeps looking better in the long run.

Chevron to Become Operator of Exploration Block Offshore Uruguay

Challenger Energy has, through its wholly-owned Uruguayan subsidiary CEG Uruguay, entered into farm-out agreement with Chevron for…

www.oedigital.com

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MikeOilInvestThomas

@mike_oil_invest

7 months

Big Back Offense Value Investing: $BORR ARAMCO put a thumb in my eye this morning, temporarily suspending 1 Borr rig. "It's Game Over", screams the public. But they aren't reading into the bigger geopolitical picture. This is Super Good News. To be explained quoting this post.

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MikeOilInvestThomas

@mike_oil_invest

5 months

Have been slowly warming up to offshore Norway (despite the frigid conditions). Have been quietly looking closer at oil opportunities. If you want to place "blame" for this deviation.......

Oil and Gas Investments in Norway Set for Record-High in 2024 | OilPrice.com

Norway's oil and gas investments are set to reach a record high in 2024, driven by increased spending on exploration and field developments.

oilprice.com

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MikeOilInvestThomas

@mike_oil_invest

5 months

Follow Up: And this is after digesting Maersk, from a few years back. $NE is definitely beefing up for the long run, with UDW and JUs. A one two punch. And the oil up cycle is just getting started. Wow! $DO

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MikeOilInvestThomas

@mike_oil_invest

5 months

Boom! Out if the blue on Monday morning. Things are getting interesting. $NE $DO

Noble to Buy Diamond Offshore As Oil and Gas Mergers Continue | OilPrice.com

Noble Corporation is set to buy Diamond Offshore Drilling in a deal valued at $1.6 billion as the oil and gas mergers continue.

oilprice.com

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MikeOilInvestThomas

@mike_oil_invest

8 months

Big Back Offense Value Investing: $RIG Hot Money has made the sp so cheap, that I'm now doubling the amount of shares with each purchase. Thank you for the gift.

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MikeOilInvestThomas

@mike_oil_invest

10 months

Disclaimer: Do your own research please. Hidden in plain sight: $APA in Suriname Blocks 58 & 53 (Brazil too) being surrounded by major players. $XOM is missing a piece of the "Golden Lane". $CVX ( $HES ) is coming down from the top. Is Apache a FID away from receiving an offer?

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MikeOilInvestThomas

@mike_oil_invest

6 months

$DO acting as an agent for some of Eldorado Drilling's assets. Interesting development.

Diamond Offshore seals deal to market three drillship newcomers - Splash247

Diamond Offshore has secured rights to market three new 7th-generation drillships. The Houston-based drilling contractor has sealed a deal with the owner of West Dorado and West Draco (Pictured) to...

splash247.com

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MikeOilInvestThomas

@mike_oil_invest

7 months

Big Back Offense Value Investing: $BORR Would you look at that. Hot Money is helping build the Borr drilling position. When opportunity knocks, take it.

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MikeOilInvestThomas

@mike_oil_invest

10 months

Remembering the top 3 drilling companies from the 2007/2008 period, and why I am building a long term value investor position NOW: 1. Transocean $RIG 2. Noble $NE 3. Ensco $VAL If those were purchased around 2001, WOW!

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MikeOilInvestThomas

@mike_oil_invest

5 months

With this article hitting the airwaves, and the bidding process getting ready to start, IMO it's just a matter of time before the cat is out of the bag, regarding $GLPEY. Not waiting for Hot Money to wake up. Added more $GALP.LS today. $GALP

MikeOilInvestThomas

@mike_oil_invest

5 months

Big Back Offense Value Investing: $GLPEY An absolute dream for this value investor. Hot Money has exited. $Billion farm-out in process. The stock getting no real attention. Now >10% of portfolio. And when the deal is done, $GALP doesn't share one dime of $$$. $GALP.LS

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MikeOilInvestThomas

@mike_oil_invest

6 months

Big Back Offense Value Investing: $RIG With Mr. Deepwater's insight & today's ME activity, I see a clear path for Transocean to deleverage w/SP appreciation. The Rocky Road traveled to build this position, should be very rewarding.

Tommy Deepwater

@TommyDeepwater

7 months

$RIG $HYG RIG's Unsecured offering Upsized to $1.8B from $1.5B. 5yr at 8.25% and 7yr at 8.5% ($900mm each). Unsecured market now open to RIG after relying on secured in 2023. New $1.8B said to pay down 2025 and 2027 maturities. Likely leaves ~$700mm of addt'l cash. Flexibility.

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MikeOilInvestThomas

@mike_oil_invest

6 months

The pricing of the oil markets along with their equities, is nothing but a Circus right now. It's providing several entry points, for those who can stomach the volatility. The battle continues, accumulating more Credit Deleveraging Swaps. Working towards inflection point. $RIG

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MikeOilInvestThomas

@mike_oil_invest

8 months

Big Back Offense Value Investing: $RIG $NE $VAL $SDRL $DO $BORR The vibe feels like the industry has been pulled out of the jaws of defeat, giving the players time to regroup and make a stand. The game is slowly progressing, needing >Oil prices & CAPEX for next level action.

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MikeOilInvestThomas

@mike_oil_invest

11 months

That's it. Keep selling me $RIG & $NE cheap. Value investing hunger. Noble broke into the $44 range. Feed me some Transocean in the $5 range.

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MikeOilInvestThomas

@mike_oil_invest

6 months

After yesterday, I'm convinced that Namibia's Orange Basin contains OPEC quantities of oil. Buying into the IOCs now, is like having a great income stream down the line. Weekly purchase program started today. $TTE $SHEL $GLPEY $CVX $WDS

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MikeOilInvestThomas

@mike_oil_invest

6 months

Follow Up: So if $TTE $SHEL each run two different rigs in each block, that brings the count to 6 for the area. Add in $WDS for 2025, and it goes up to 7. Throw in the wild card of a smaller operator getting courage to go for it, this could go up to 8 or 9. $RIG $VAL

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MikeOilInvestThomas

@mike_oil_invest

5 months

"The extension is expected to span one year and has an estimated contract value of $177 million" Sounds like ~$484M DR. Is my math correct? It's very obvious UDW is waking up and growing. But some still choose to downplay what is developing. $NE $MUR

Murphy Oil Extends Noble Drillship in the Gulf of Mexico

Murphy Oil Corporation has exercised its option for the drillship Noble Stanley Lafosse to drill five additional wells in the Gulf of Mexico…

www.oedigital.com

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MikeOilInvestThomas

@mike_oil_invest

5 months

@TommyDeepwater Thank you for another great update, and bonus for examining what didn't go as planned. The IOCs need visibility to make CAPEX commitments. Volatility w/oil prices, is keeping them discipline. Currently viewing it as project replacement. Finish one project, before the next.

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MikeOilInvestThomas

@mike_oil_invest

6 months

Follow Up: 'first quarter contracting momentum for 7G rigs has been back on trend for this up-cycle, with a significant pipeline of contracts due to come to market this year for 2025 and 2026 project commencements.”' $NE $VAL $RIG

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MikeOilInvestThomas

@mike_oil_invest

11 months

Picked up some value investor's holiday gift certificates, on the continued pullback of $BORR.

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MikeOilInvestThomas

@mike_oil_invest

10 months

Call it what you want, the "Suriname Triangle", but blks 58 53 52 are heating up activity 2024-25. I see FIDs by 25, w/3 more drillships in the area ($XOM Guyana). The lights will come on, back to back to back. $NE $TTE $APA Petronas

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MikeOilInvestThomas

@mike_oil_invest

1 year

@TommyDeepwater Keep those great reports coming buddy. The set up for the industry is developing. The IOCs want more visibility for a stable situation. E&P, especially on the smaller side, need to strengthen their balance sheets, before they can go wildcat more. Whitespace is a great term.

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MikeOilInvestThomas

@mike_oil_invest

5 months

$RIG $NE $VAL $SDRL

Tangkulo gas discovery offshore Sumatra could open wider deepwater development

Mubadala’s Tangkulo-1 gas and condensate find has lifted total in-place discovered resources in the area to 11 Tcf, according to Wood Mackenzie.

www.offshore-mag.com

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MikeOilInvestThomas

@mike_oil_invest

5 months

Ejected $OIH from the portfolio, & will be building a position in $OFOS, whis focused strictly on offshore. Added to the undervalued $GLPEY position. Private Custos is "Direct" controller of 10% PEL 83, that doesn't belong to NAMCOR. Beyond CEO Katti, any good info on Company?

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MikeOilInvestThomas

@mike_oil_invest

5 months

It's funny how last Monday, the story was "OPEC+ could raise output later, flooding the market (as they ruin themselves)", to "Who is OPEC+? We have an OSD merger, and want to bid their sector up". I can't make this stuff up. $XOM

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MikeOilInvestThomas

@mike_oil_invest

4 months

Posting here, for a research point of reference. Especially after hearing that $SEI.V has only the possibility to receive divided payments, if Inter Oil chooses. My bet is that any possible shareholder returns, will be a small fraction. $SEUSF

Sintana Energy acquisition of Inter Oil interest - Sintana Energy

March 09, 2022 Sintana Energy Inc (2) (C:SEI) Shares Issued 138,966,503 Last Close 3/9/2022 $0.19 Wednesday March 9 2022 –…

sintanaenergy.com

MikeOilInvestThomas

@mike_oil_invest

4 months

@TApocalyt @sintanaenergy Thank you for the information. That advances to conversation beyond what has been thrown around so far. That is the first time that I've heard anyone mention Inter Oil owning Custos, or SEI.V 49% of Inter Oil. $SEUSF

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MikeOilInvestThomas

@mike_oil_invest

6 months

Follow Up #3 : Namibia PEL 39 $SHEL 45% QatarEnergy 45% PEL 56/91 $TTE 40% QatarEnergy 30% Impact 20% There's QatarEnergy going global again. Right in the middle of two huge discoveries. $QAT $RIG $VAL

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MikeOilInvestThomas

@mike_oil_invest

5 months

BOOM! And there is the other side of the "V" dip recovery. It was a great period, used to add to positions. Cash reserves in action. Value investing. $XOM

MikeOilInvestThomas

@mike_oil_invest

5 months

There is no way, that Brent Crude Oil stays down. This is just a "V" shaped dip developing. Temporary. Going to put more cash to work. $XOM

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MikeOilInvestThomas

@mike_oil_invest

7 months

The market is telling me to buy more Credit Deleveragimg Swaps in $RIG. More than happy to make the movie, "The Big Long".

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MikeOilInvestThomas

@mike_oil_invest

5 months

3 things that should be more important to $GLPEY $GALP.LS, than the proximity of other blks, in the Namibia PEL 83 sweepstakes: 1. Upfront farm-out $$$. It won't be cheap. 2. Can IOC's afford to carry $GALP, while at the same time.... 3. Prioritizing Mopane development.

Another oil and gas tourist

@oilgastourist

5 months

Exxon, Shell, Total, Equinor eyeing 40% stake in Mopane oil field offered by Galp $SEI.v $SHEL $TTE $XOM $EQNR

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MikeOilInvestThomas

@mike_oil_invest

6 months

Just another confirmation that I need more oil and commodities. At $34+ Trillion in UST Debt, along w/rapidly expanding US Dollar supply, the approaching inflation will be ugly. Long $XOM

Craig Shapiro

@ces921

6 months

BREAKING NEWS CENTRAL BANK OF UAE, BANK INDONESIA SIGN MOU TO PROMOTE USE OF LOCAL CURRENCIES FOR BILATERAL TRANSACTIONS Slowly, then all at once.

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MikeOilInvestThomas

@mike_oil_invest

5 months

What timing. Had enough with the political games, and left $PBR. I just couldn't deal with another national oil company, being cornered into the green movement. How long before the government diverts FCF to other projects? Beware.

Giovanni Staunovo🛢

@staunovo

5 months

#Brazil ’s Lula government ousts Petrobras chief after dispute over dividends #oott

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MikeOilInvestThomas

@mike_oil_invest

4 months

More beefing up for $CVX w/offshore blocks. The direction that they are taking is great. Welcome to the expanded offshore exploration party. $RIG $NE $VAL $SDRL

World Oil

@WorldOil

4 months

Chevron, through its subsidiary Cabinda Gulf Oil Company Limited, has signed two Risk Service Contracts for Block 49 and Block 50 #offshore #Angola , in the ultra-deep waters of the Lower Congo basin. Read more: #oilandgas #exploration

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MikeOilInvestThomas

@mike_oil_invest

5 months

"The ouster of Prates represents a win for members of Lula's cabinet pushing for lower fuel prices, smaller dividends and more capital spending to create jobs and boost the economy." Doesn't sound shareholder friendly. What next, privatize? $PBR

Brazil Pushes Out Petrobras CEO, Names Ex-Regulator to Top Job

The chief executive of Brazil's Petrobras offered to step down, the state-run oil company said on Tuesday, as the government lined…

www.oedigital.com

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MikeOilInvestThomas

@mike_oil_invest

10 months

Big Back Offense Value Investing: $RIG Hot Money Trader: Going to trade this back & forth in large blocks for a $0.10 spread. Long Term Value Investor: Later will sell Hot Money their inventory, with upwards of $20 per share spread.

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MikeOilInvestThomas

@mike_oil_invest

8 months

Comments like this tell me to not worry at all about short term sp for Oil related companies. This goes double for the short-term quarterly complaints regarding $RIG. Geology is my best friend. I can wait, and build a bigger position.

Energy Blogger

@energy_blogger

8 months

Saudi Aramco CEO, world needs to find a Saudi Arabia every 2 years to replace depleting capacity Key takeaways 1) lifting cost: $3.1 /bbl 2) World well supplied 3) Demand recovered 4) Global Depletion rate: 6% 5) Supply growth rate: 3% #OOTT #Oil

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MikeOilInvestThomas

@mike_oil_invest

5 months

Big Back Offense Value Investing: $RIG Did the unthinkable, and paused Transocean purchases..... because with the recent dip, took the opportunity to put cash to work, and bought over 3 months of shares.

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MikeOilInvestThomas

@mike_oil_invest

4 months

$RIG $NE $VAL $SDRL $DO

Noble/Diamond merger could strengthen mid-term rig rates

Noble’s acquisition of Diamond Offshore means that four drilling contractors will account for more than 60% of the world’s total floater backlog, according to Wood Mackenzie.

www.offshore-mag.com

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MikeOilInvestThomas

@mike_oil_invest

6 months

@TommyDeepwater Thank you for another great update. Exploration campaigns are the starting point for increasing rig usage. FIDs are needed to lock them up in long term projects, eating up spare capacity. Maybe in Blondie's "Rapture", the man from Mars can stop eating cars, and eat rigs instead.

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MikeOilInvestThomas

@mike_oil_invest

6 months

@FChristopher17 Keep spreading the word. The Javier Blas article is educating, and made me appreciate 8G/20k even more. Big respect for $RIG assets. They are positioned, where the industry is headed. It's a longer strategy for the big payoff.

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MikeOilInvestThomas

@mike_oil_invest

8 months

Big Back Offense Value Investing: $PBR This is EXACTLY why I'm building a portfolio, and not overweight a stock for it's divided or potential increase. Petrobras has great production. The payout is just getting more realistic. Adding to the position.

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MikeOilInvestThomas

@mike_oil_invest

10 months

If anyone is interested in the status of the offshore oil drilling industry, you will be doing yourself a huge favor by looking at the material presented by @TommyDeepwater . I would give an arm and leg, to be inside of his data room, plugged into the central computer.

Tommy Deepwater

@TommyDeepwater

10 months

Benjamin was a great host. We discuss my past valuing offshore rigs as debt collateral $HYG, long cycle nature of offshore capex, $RIG $VAL $NE $ODL.OL $DO $TDW, importance of no new order book, my favorite oil sands company in Canada $CVE and other topics. Thanks @themavlife

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MikeOilInvestThomas

@mike_oil_invest

5 months

Today should be the hearing. 👀 $BORR

Court hearing coming up this week: Go-ahead or more hiccups for North Sea gas project?

After hitting another snag due to a court-ordered halt of operations, a gas project in the North Sea is awaiting outcome of court hearing.

www.offshore-energy.biz

MikeOilInvestThomas

@mike_oil_invest

5 months

"Breaking: Dutch court orders occupied fossil gas drilling platform to cease activities" "(ONE-Dyas) has to halt the installation of the drilling platform ( $BORR Prospector 1 ) at least until a hearing on this has been held on June 12." Different.

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MikeOilInvestThomas

@mike_oil_invest

5 months

FIDs seem to be picking up 2Q24. More offshore work for contractors. $PBR

Petrobras Makes FID to Advance Two Oil Projects Offshore Brazil

Petrobras, together with its partners, has made the final investment decision (FID) for the second development phase of Atapu and Sépia fields…

www.oedigital.com

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MikeOilInvestThomas

@mike_oil_invest

5 months

Big Back Offense Value Investing: $TDW Went back to Tidewater punch bowl, and took a gulp. It's been working so far, and the oil cycle is still very early. I don't see the direction changing.

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MikeOilInvestThomas

@mike_oil_invest

7 months

Big Back Offense Value Investing: $RIG Hey Hot Money! I'll see you tomorrow morning. 😁

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MikeOilInvestThomas

@mike_oil_invest

10 months

"‘Historic’ moment for Uruguay: Shell, APA, and YPF seal deals for offshore hydrocarbon exploration" They face costs, but I just love how APA is growing up in the offshore arena, versus playing it safe in shale. $APA $SHEL $YPF

‘Historic’ moment for Uruguay: Shell, APA, and YPF seal deals for offshore hydrocarbon exploration

ANCAP has tucked a new milestone under its belt with the signing of contracts for four offshore blocks with three oil and gas players.

www.offshore-energy.biz

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MikeOilInvestThomas

@mike_oil_invest

5 months

When companies start striking oil, catching me by surprise, I start to pay attention. Opened a position in Valeura today, and will be keeping a watchful eye on it. $VLERF

Valeura Makes Three New Oil Discoveries in Gulf of Thailand

Canada-based oil and gas company Valeura Energy has made three oil discoveries as part of the exploration campaign in the Gulf of…

www.oedigital.com

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