I believe that in the current situation BWE would be well advised to put the FID on Maromba on Pause. Better to wait a bit and see what is the outcome of the current stupidity in the world.

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.

Det henger nok delvis sammen med at oljeprisen ligger under break-even på Golfhino. Der taper de altså penger i øyeblikket.

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

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.

Mye snadder her men jammen en kjedelig dag (oljen stuper) å bruker 1,5 mrd usd

BW Energy: Makes FID on Maromba field development in Brazil

BW Energy makes FID on Maromba field development in Brazil

BW Energy is pleased to announce the final investment decision (FID) for the
Maromba development offshore Brazil based on a capex-efficient development with
an integrated drilling and wellhead platform (WHP) and a refurbished FPSO. The
development targets 500 million barrels of oil in place in the highly delineated
and tested Maastrichtian sands. First oil is planned by end-2027 with expected
plateau production of 60,000 barrels of oil per day. The development will more
than double BW Energy's total net production by 2028 and has short pay-back
time.

Project highlights:

* Initial six production wells from the WHP

* The WHP will be a converted drilling jack-up with up to 16 well slots and
production- and test-flowlines connected to the redeployed FPSO BW Maromba
(ex. Polvo)

* A second six-well drilling campaign will fully leverage the established
field infrastructure and allow for appraisal and testing of other reservoir
horizons

* BW?Maromba refurbishment and life extension work is already underway at the
COSCO yard in China

* Total investments of USD ~1.5 billion, split USD ~1.2 billion for the
initial development and a further USD ~0.3 billion for the secondary
drilling campaign

"We have spent time on optimising the Maromba development plan and concluded on
a highly competitive concept with a repurposed jack-up platform and FPSO,
repeating the approach we very successfully applied in Gabon. Maromba will
enable BW Energy to deliver industry-leading organic production growth and
position the Company for further low-cost developments of known potential
developments. We expect to unlock significant shareholder value in all realistic
oil price scenarios," said Carl K. Arnet, the CEO of BW Energy.

Capex-efficient development concept

The development comprises six initial Maastrichtian horizontal production wells
with dry-trees and artificial lift by downhole Electric Submersible Pumps
(ESPs). Production will be transferred from the WHP to the spread moored FPSO
Maromba for treatment, storage and offloading to shuttle tankers. The WHP will
be installed in ~150 meters of water depth with full drilling facilities. Once
installed, the infrastructure will also enable the planned secondary six-well
drilling campaign and provide potential for future development phases with low-
cost infill wells, potential water injectors as well as allowing appraisal and
production of multiple proven reservoirs outside the main Maastrichtian
resources.

The FPSO Maromba is currently at the COSCO yard in China, undergoing initial
refurbishment and life extension work following completion of condition
assessment and FEED. The FPSO is designed with 1 million barrels of storage
capacity. The total liquid capacity will be 100,000 barrels per day with oil
production capacity of 65,000 barrels per day and water treatment capacity of
85,000 barrels per day.

BW Energy has agreed to acquire a jack-up with complete leg extensions for USD
107.5 million. The rig will undergo a limited conversion to serve as an
integrated drilling and wellhead platform prior to installation on the field.

"The repurposing of existing energy infrastructure enables reduced investments
and shorter time to first oil with significantly reduced greenhouse gas
emissions in the development phase, as compared to installing new production
assets," said Carl K. Arnet, the CEO of BW Energy.

Attractive field economics

BW Energy expects to invest approximately USD 1 billion before first oil and a
further USD 200 million to complete the initial drilling campaign before end
2028. This will be followed by USD 300 million for the additional six wells in
the second campaign with completion before end 2030.

BW Energy anticipates Maromba to achieve a competitive production cost,
averaging less than USD 10 per barrel over the first five years, underpinning
robust project economics.

Estimated project IRR exceeds 30% at oil at USD 60 per barrel Brent and break-
even at 10% IRR is around USD 40 per barrel Brent. The heavy oil from the
Maromba is expected to trade at a discount to Brent of approximately USD 7.5 per
barrel.

The development will be financed through existing cash and undrawn
facilities, cashflow from operations, and separate infrastructure financing
solutions related to the FPSO and WHP. The Company is also evaluating a range of
financing alternatives, including a corporate facility, reserve-based lending,
trader financing and the potential issuance of bonds.

BW Energy has also received a commitment by the main shareholder BW Group for a
USD 250 million shareholder loan facility.


The Maromba field

Maromba is located 100 km off the Brazilian coast in the Campos Basin. Nine
wells were drilled in the license between 1980 and 2006, with oil found in eight
of these across various reservoirs. The development project targets 123 million
barrels of 2P reserves (management estimates), with potential additional
resources from other reservoirs to be appraised along the development. BW Energy
acquired 100% ownership in Maromba in 2019 for a total of USD 115 million, of
which USD 85 million remains to be paid to the sellers at predefined milestones.
Magma Oil holds a 5% back-in right in the Maromba licence which is expected to
be executed upon first oil.

BW Energy is following all the steps of the approval process with the Brazilian
O&G Regulator (ANP) and with the Environmental Agency (IBAMA). The Company will
now proceed with contracting of long-lead items and services, as well as
finalising the financing agreements.

More information on the Maromba development will be shared in connection with
the first quarter 2025 earnings presentation held at Teatersalen, Hotel
Continental in Oslo, Norway, 09:30 CEST on 5 May.

Looks just very good. But not the best timing...

Så vidt jeg forstår blir løsningen nærmest en kopi av Hibiscus/Hibiscus South- løsningen.

BWE har en sterk balanse og derfor utvikler de Marombo.

De er også åpne for en farm-down av feltet, hvis prisen er veldig attraktiv for aksjonærene.

Syntes de har vært flinke på utbyggingssiden og at de har blitt bedre på produksjonssiden.

Virker som planene er realistiske og de vil begynne å produsere olje fra Marombo i andre halvdel av 2027.

Andreas Sohmen.Pao stiller også med kapital.

Lite ble sagt om Kudu, men long leads item av boreutstyr blir levert i juni.

Kanskje det kommer en melding om farm-down av Kudu pga dyre borekostnader.

With Brazilian oil project approved, BW Energy sets sights on doubling output by 2028
Business & Finance
May 5, 2025, by Dragana Nikše
Oslo-listed oil and gas E&P player BW Energy has taken the final investment decision (FID) for a development in the Campos Basin field offshore Brazil. The project will encompass an integrated drilling and wellhead platform (WHP) and a refurbished floating production storage and offloading (FPSO) unit.


FPSO Polvo; Source: BW Offshore
The Maromba field development targets 500 million barrels of oil in place in what the Norwegian player says are highly delineated and tested Maastrichtian sands. With an expected plateau production of 60,000 barrels of oil per day, the first oil is scheduled for the end of 2027. BW Energy hopes to more than double its total net production by 2028 thanks to the project.

As explained, the “capex-efficient” development will feature a converted drilling jack-up, serving as WHP, with up to 16 well slots and production- and test-flowlines connected to the redeployed FPSO BW Maromba, formerly known as Polvo.

BW Energy CEO Carl K. Arnet said: “We have spent time on optimising the Maromba development plan and concluded on a highly competitive concept with a repurposed jack-up platform and FPSO, repeating the approach we very successfully applied in Gabon.

“Maromba will enable BW Energy to deliver industry-leading organic production growth and position the Company for further low-cost developments of known potential developments. We expect to unlock significant shareholder value in all realistic oil price scenarios.”

The FPSO’s redeployment was made possible thanks to the settlement of an arbitration between BW Energy and Petro Rio O&G Exploração e Produção de Petróleo in early April. BW Offshore expects to receive approximately $36 million as a result of the settlement.

Designed with one million barrels of storage capacity, the FPSO Maromba will have a total liquid capacity of 100,000 barrels per day, an oil production capacity of 65,000 barrels per day, and a water treatment capacity of 85,000 barrels per day.

According to BW Energy, the unit is undergoing initial refurbishment and life extension work following the completion of condition assessment and FEED at the COSCO yard in China.

Furthermore, the operator has agreed to purchase a jack-up with complete leg extensions for $107.5 million to use at Maromba. The rig is slated to undergo a limited conversion to serve as an integrated drilling and wellhead platform before being installed on the field.

“The repurposing of existing energy infrastructure enables reduced investments and shorter time to first oil with significantly reduced greenhouse gas emissions in the development phase, as compared to installing new production assets,” noted Arnet.

Maromba is located 100 kilometers off the Brazilian coast in the Campos Basin. Nine wells were drilled in the license between 1980 and 2006, with oil found in eight of these across various reservoirs. The development project targets an estimated 123 million barrels of 2P reserves, with potential additional resources from other reservoirs to be appraised along the development.

BW Energy acquired a 100% ownership in the field in 2019 for a total of $115 million, of which $85 million remains to be paid to the sellers–Chevron and Petrobras–at predefined milestones. Additionally, Magma Oil holds a 5% back-in right in the Maromba licence, which is expected to be executed upon first oil.

The development comprises six initial Maastrichtian horizontal production wells with dry trees and artificial lift by downhole electric submersible pumps (ESPs). Production will be transferred from the WHP to be installed in approximately 150 meters of water depth with full drilling facilities, to the spread moored FPSO Maromba for treatment, storage and offloading to shuttle tankers.

Once installed, the infrastructure will enable the planned secondary six-well drilling campaign and provide potential for future development phases with what the operator says are low-cost infill wells, potential water injectors, as well as allowing appraisal and production of multiple proven reservoirs outside the main Maastrichtian resources.

The investment is anticipated to total around $1.5 billion, with $1.2 billion for the initial development and a further $0.3 billion for the secondary drilling campaign. This includes $1 billion before first oil and a further $200 million to complete the initial drilling campaign by the end of 2028. After that, $300 million is planned to be spent on the additional six wells in the second campaign, with completion before the end of 2030.

As explained by the operator, the development will be financed through existing cash and undrawn facilities, cash flow from operations, and separate infrastructure financing solutions related to the FPSO and WHP. Financing alternatives, including a corporate facility, reserve-based lending, trader financing, and the potential issuance of bonds, are also being explored.

BW Energy’s main shareholder, BW Group, has also committed a $250 million shareholder loan facility.

The Norwegian firm says it is in the process of securing authorizations from the Brazilian oil and gas regulator, ANP, and the environmental agency, IBAMA. The next steps will include contracting long-lead items and services and finalizing the financing agreements.

This follows BW Energy’s “drilling success” in the Dussafu license off the coast of Gabon. As stated in late April by Panoro Energy, BW Energy’s partner in the field, the second appraisal sidetrack well, drilled with the Borr Norve jack-up drilling rig, encountered oil in the Gamba formation.

https://www.offshore-energy.biz/with-brazilian-oil-project-approved-bw-energy-sets-sights-on-doubling-output-by-2028/

I just listened the webcast from yesterday and can only recommend to watch it. BWE is so solidly run and serious player entering a truly trasformative development that unless the world ends it is a very very solid investment for decades to come. As the market is what it is I do not see sudden price jumps but if you think buying into a company that will return to you, starting in three years, many times over your investment as dividends in the following years is a good idea and you have the patience, BWE is a very solid candidate.

https://events.webcast.no/viewer-registration/uaJH92gTYd7347z3E1Fn/

Veldig positiv artikkel om BWE i FA i dag.

https://finansavisen.e-pages.pub/titles/finansavisen/6889/publications/7122/pages/26

Fra FA i dag.

Publisert 09:36
Oslo (Infront TDN Direkt): Fearnley Securities oppjusterer kursmålet på BW Energy til 45 kroner fra 34 kroner og gjentar en kjøpsanbefaling.

Det fremgår av en analyse fra meglerhuset tirsdag.

Meglerhuset har oppdatert estimatene for å reflektere for Maromba-utviklingen, Golfinho boost-prosjektet og platået ved Dussafu, samt nye oljeprisestimater.

Til tross for store investeringsforpliktelser fremover, har selskapet sikret/forventer å sikre finansiering gjennom en kombinasjon av leasingfinansiering på FPSO Polvo og jack-up-riggen som skal brukes på Maromba, en RBL-fasilitet og et aksjonærlån på 250 millioner dollar fra BW Group.

"Disse fasiliteten vil sammen med kontantbeholdningen gi BW Energy tilstrekkelig fleksibilitet til å navigere de neste tre årene med store investeringer. Derfor er vi fortsatt positiv til aksjen med økt netto eiendelsverdier (NAV), men med mer risiko enn tidligere gitt de store forpliktelsene og prosjektrisikoen", skriver meglerhuset.

https://worldoil.com/news/2025/5/6/bw-energy-to-buy-valaris-247-jackup-rig-for-108-million/

IEA i Paris

https://energycapitalpower.com/iae-2025-namibias-petroleum-commissioner-to-highlight-energy-investment-potential/

Kursmål på 45, hvem selger nå for skarve 30? Denne skal minst til 38 innen kort tid

45?

Det er ingenting:

4) We believe the stock will trade above NOK 100/sh upon a successful development of Maromba with further upside if the Namibian exploration well in H2/25 results in a large oil discovery (>NOK 100/sh unrisked potential).

Yes, if Kudu is an elephant it is quite formiable upside:)

The beauty with BWE is that there is no real risk. Oil is as proven in place in Maromba so there may be some project delays but at the same time the cash flow from Gabon keeps the company nicely afloat. Oil price is always a risk but oil price drop will result pretty soon on reduction in production globally. It will bounce back.

The only risk in BWE is dying of boredom while waiting for 3 years:)

https://www.namibian.com.na/oil-sprints-ahead-gas-lags-behind/

Nok 100+ share var uten Kudu.
(With further upside)

Selv regner jeg ut ca 15 kr i eps på dagens produksjon.
Med 3,20 i eps i 1q, så ligger vi an til 13+, men fallet i oljeprisen gir nok en nedside til ca 10 kr i eps.

Med Maromba i produksjon så snakker vi nok om 25-30 kr i eps, utbytte på 10 kr, og jeg har kursmål 150.

Kudu i tillegg? Joda.

09.05.2025 08:25:37
BW ENERGY: ARCTIC OPPGRADERER TIL KJØP, KURSMÅL 38 (30)
Oslo (Infront TDN Direkt): Arctic Securities oppgraderer sin anbefaling på BW Energy til kjøp fra hold og oppjusterer kursmålet på aksjen til 38 kroner fra 30 kroner.


Det fremgår av en analyse fredag.


Meglerhuset oppgraderer etter endelig investeringsbeslutning for Maromba. Prosjektets oppgitte enhetsøkonomi overgår forventningene betydelig, med estimert ubelånt internrenter på henholdsvis 10 og 30 prosent ved en Brent-pris på 40 og 60 dollar pr fat, ifølge meglerhuset.


"Dersom BWEs operative forutsetninger viser seg å være riktige og prosjektet gjennomføres som planlagt, har Maromba potensial til å skape betydelige verdier for aksjonærene. Når det er sagt, innebærer nye feltprosjekter risiko, og historien har vist at ombygging av eksisterende infrastruktur kan føre til uforutsette utfordringer. Likevel ser vi vesentlig oppside selv med mer konservative forutsetninger - derav oppgraderingen", skriver meglerhuset.






TDN Direkt finans@tdn.no