Will relations between the UK and EU improve in 2020? – The New European

PUBLISHED: 20:35 04 January 2020

John Kampfner

French president Emmanuel Macron (L) meets with German chancelor Angela Merkel (2-R) and British prime minister Boris Johnson (R) at the United Nations headquarters. (Photo by Ludovic MARIN / AFP).

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A golden rule of diplomacy is you don't choose who you deal with. For almost all European leaders, Boris Johnson would be just about the last person they would want to face across the table. But that's who they've got.

A man previously known as a buffoon and a chancer has just secured a mandate that most of his interlocutors would die for. He is going nowhere for at least five years. He will use his majority to embed a populist government in his name and a Brexit that will bear little resemblance to the relationship they enjoyed with Britain.

It is a distasteful and unhappy state of affairs. But they will have to get used to it.

Signs are that they already are. The first clue (or rather lumbering thud) from the prime minister was his decision to enshrine into law the UK's final departure from the EU on December 31, 2020.

It won't be a full exit. It will encompass just the bare bones of the areas previously covered by the EU, but for domestic political reasons that's all he wants.

"We are well advised to take seriously that the UK does not intend to go for an extension of the transition, and we need to be prepared for that," acknowledged Sabine Weyand, the director general of the EU's trade department. "That means in the negotiations we have to look at those issues where failing to reach an agreement by 2020 would lead to another cliff-edge situation."

It is not just the limited scope of future cooperation that is concerning. It is the tone and manner. As Leo Varadkar, the Irish Taoiseach, pointed out, Johnson looked set on a "harder Brexit than we anticipated". The UK, he said, appeared to want to undercut the EU on food, health and product safety.

The Brits don't bother to hide it. Presenting his EU Withdrawal Bill to the new and pliant House of Commons before Christmas, Johnson said it "paves the way for a new agreement on our future relationship with our European neighbours, based on an ambitious free trade agreement. This will be with no alignment on EU rules, but instead with control of our own laws, and close and friendly relations".

Downing Street's calculation is that the more it alarms Europe, the more concessions it will extract. At the same time, they want to relegate the negotiations to a lower level of priority for parliament. After all, trade talks around the world are supposed to be dull.

The EU is quite happy for the negotiations to be unexciting. It has been less than impressed by the British grandstanding over the past three-and-a-half years, the finger wagging, the rudeness, the lack of preparedness seen as symptomatic of a political culture that prizes rhetoric over hard graft and good sense.

They know that the closer the negotiations get to next autumn's deadline the more Johnson will play to Britain's Dad's Army stereotype. The fastest trade deal the EU has secured was with South Korea. That was concluded in 2009 after more than two years of often difficult talks. It took another two years to come into force.

They also know that he will have to choose between two options. It is binary. Any duty-free, quota-free deal would need to contain guarantees of a level playing field in areas such as state aid and competition, environmental and labour law and taxation.

This would go beyond requirements set in recent deals with Japan or Latin America because they are further away and less economically integrated with the EU than Britain.

If he sticks to his vision of Singapore-on-the-Thames, to his no-alignment mantra, he can. But he will then haveto face trading with the EU on WTO terms.

As it has already shown, in its dealings with Johnson and with Theresa May before him, the EU is unfazed by the threat of a breakdown in negotiations. Both sides will suffer, but it knows the UK will be hurt more.

A skeleton deal is likely to focus only on tariffs and quotas in goods. There will be little scope for agreement on services - which are far more important to the UK economy - or on regulation of data flows.

Britain sends roughly 45% of its exports to the EU. Its continued role as a global hub for multinationals - on which so much wealth has been created since the 1990s - will be undermined if it finds itself subject to border controls and tariffs in its dealing with the European continent.

Global companies have for some time been staking out Amsterdam, Paris, Frankfurt, Berlin, Dublin and other cities as an alternative. Several have already moved parts of their operation, or relocated their European headquarters, there.

The area that Johnson and his aides are most confident about in their new pick-and-mix approach to cooperation is security.

It is no coincidence that he made his first trip abroad as super-charged majoritarian prime minister to Estonia, to visit British forces. They are serving as part of Nato's Enhanced Forward Presence, alongside those of France, Denmark and Estonia itself, on the Baltic state's frontline with Russia.

This is just the sort of collaboration he wants to highlight as part of the UK's "global" ambitions. He did, of course, meet Estonia's prime minister on his whistle stop visit.

It would have been rude not to. But the main aim was the photo opportunity for the folk back home, serving food to the squaddies.

Angela Merkel, Emmanuel Macron and the other leaders will have to find a way of working with Johnson, whether through gritted teeth or more warmly than that.

They have been schooled in the art of humouring quixotic populists in their years of dealing with Donald Trump. They've learned that trying too hard doesn't work (the French president's love-in with his US counterpart on Bastille Day didn't get him anywhere), nor does the German Chancellor's icy stare.

They will be pragmatic, taking what they can, giving where they have to. The UK is already far more aligned with its EU neighbours on the key foreign policy issues of the day - climate change, Syria, Russia and China - than it is with Trump. All this marks a return to 19th century arrangements, away from the Bretton Woods dream of international organisations. It worked for 75 years, which isn't a bad run.

The future European choreography contains two paradoxes. The first is that the one partner the Germans have most in common with in Europe is the UK.

Merkel sees much more eye to eye with the Brits (alongside the Dutch and the Nordics) on economic policy than she does with the French. The second is that Merkel and Macron do not get on.

He is frustrated by her caution. She is not enamoured of his flamboyant gestures. However, they know that this relationship is pivotal to both countries.

During a dinner for British diplomats and thought leaders in Berlin earlier this year, Germany's justice minister at the time, Katarina Barley (whose father's side comes from Lincolnshire), gave this candid warning: "Even if we agree with you in the future, we will always be more distant, because family comes first and you are no longer family."

The pain is real, but they have already moved on.

The New European is proud of its journalism and we hope you are proud of it too. We believe our voice is important - both in representing the pro-EU perspective and also to help rebalance the right wing extremes of much of the UK national press. If you value what we are doing, you can help us by making a contribution to the cost of our journalism.

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Will relations between the UK and EU improve in 2020? - The New European

HE’S BACK! As predicted, ‘Affluenza Teen’ spoiled brat Ethan Couch busted for drug test while out on probation for killing 4, paralyzing 1 -…

Ethan Couch, the Texas man who killed four people during a drunken car crash when he was a teen, has been arrested again, according to jail records.

ABC News reports that Couch was booked into the Tarrant County jail on Thursday. Couch reportedly tested positive for THC after mandatory drug testing, which is a direct violation of his probation. Judge Robb Catalano, in Criminal District Court No. 2, signed Couchs probation violation warrant.

How do you protect your children from predators? Join Nancy Grace and a team of world-class experts for the online course Justice Nation: Crime Stops Here.

As CrimeOnline previously reported, Couch, now 22, killed four people in 2013 after a drunk driving crash off of Burleson-Retta Road in Tarrant County. Couchs blood-alcohol level on the night of the crash registered at .024.

Former Texas District Judge Jean Boyd gave Couch 10 years of probation and rehabilitation after a psychologist testified that the then-teen suffered from affluenza. The term defines a person who grew up in a wealthy environment and didnt have the same rules and consequences as the rest of society.

While testifying during Couchs trial, Psychologist G. Dick Miller coined the term affluenza and pushed for Couch to enter a drug rehabilitation program instead of jail.

Instead of the golden rule, which was do unto others as you would have them do unto you, he was taught we have the gold, we make the rules at the Couch household, Miller said, according to the Washington Post.

The light punishment sparked outrage across the country, which pushed Couch into the national media spotlight.

Slain victims of the 2013 tragedy include:

The crash also left numerous people injured, including victim Sergio Molina, who suffered a permanent brain injury and was paralyzed from the waist down.

I believe he is genuine: As 4-time killer affluenza teen prepares to walk free, a friend of one of the victims says Ethan Couch is a changed man

One of the stipulations of his probation was that Couch to abstain from drinking alcohol. Within a few years of his conviction, a video surfaced showing someone that appeared to be Couch engaging in a game of beer pong with others.

As the video quickly gained attention, Couch and his mother, Tonya Couch, snuck away from their Tarrant County home in the middle of the night and fled to Mexico. Within a few weeks, mom and son were caught in Puerto Vallarta, a Mexican resort town in Jalisco.

Upon his return to the U.S. in 2016, Couch was sentenced to serve two years behind bars. He was released last year under the stipulation that he adhere to probation rules, which, in part, indicated that he could not use alcohol or drugs.

Check back for updates.

For the latest true crime and justice news,subscribe to the Crime Stories with Nancy Grace podcast. Listen to a related episode.

Join Nancy Grace for her new online video series designed to help you protect what you love most your children.

[Feature Photo: Ethan Couch/Police Handout]

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HE'S BACK! As predicted, 'Affluenza Teen' spoiled brat Ethan Couch busted for drug test while out on probation for killing 4, paralyzing 1 -...

Letter: Why Mitch McConnell, Lindsey Graham should recuse themselves from Trump impeachment vote – Greenville News

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Letter writer says previous statements disqualify Mitch McConnell and Lindsey Graham from serving as impartial jurors in the Senate impeachment trial.

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OPINION

William Byars, Letter to the Editor submission Published 5:46 p.m. ET Dec. 29, 2019

Recent statements from US senators have shown a disheartening level of cynicism never before displayed by Congress members involved in impeachment proceedings.

Both Senate leader MitchMcConnell and SC Sen. LindseyGraham have made it abundantly clear they have no interest in even attempting impartiality in the Senate impeachment trial.

One way of defining impartiality is to say it is the application of Jesus' Golden Rule to any adjudication. Specifically regarding impeachment, it involves imagining how one would vote on impeachment if a president of the other party had committed the same offenses as the one who is on trial.

Openly bragging about refusing to do one's best to be impartial toward such a solemn responsibility is a display of a seriously corrupt attitude about governing. This behavior insults jurors throughout our court systems, on whom we depend to uphold the mutual trust that underpins our society.

McConnell and Graham should both be pressured heavily to recuse themselves from voting on impeachment.

William Byars

Greenville

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Dec. 29, 2019, 5:46 p.m.

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Dec. 29, 2019, 5:23 p.m.

Dec. 29, 2019, 5:39 p.m.

Jan. 1, 2020, 12:01 p.m.

Dec. 29, 2019, 5:18 p.m.

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Letter: Why Mitch McConnell, Lindsey Graham should recuse themselves from Trump impeachment vote - Greenville News

FRANKEL: The Golden Calf of Identity Politics Must Be Destroyed. Jewish Lives Depend On It. – The Daily Wire

Generally, politicizing tragedy is a scourge that should be avoided. But sometimes, the cause of the tragedy is so obvious that it becomes impossible not to trace it back to politics.

For the last few years, parts of New York, including much of New York City, have become hotbeds of anti-Semitic attacks against Jews at random, ranging from beating Jews in the streets to throwing bricks into synagogue windows.

However, this week saw a new, unprecedented wave of anti-Semitic attacks in New York. An elderly Jew was beaten by a Latino assailant in broad daylight in Midtown Manhattan. A few days later, a homeless black attacker hit a Jewish woman in the face with a bag of groceries in front of her son. And over the weekend, multiple Jews were stabbed by an African-American attacker near a Monsey synagogue during a Hanukkah celebration.

This is horrifying, to say the least. I grew up in Monsey. To say I never thought Id see the day a tragedy such as this one would occur in my own hometown is an understatement.

But this should cause Jews, both in New York and throughout the country, to truly question who in power has their best interests in mind. And its becoming increasingly obvious that, try as they may to deny it, it is the Left that truly has no interest in helping to stop this epidemic of anti-Semitism.

To his credit, however, after the Monday attack, far-left New York Mayor Bill de Blasio tweeted the following:

Still, leftists, even Jewish ones, pounced:

One may wonder why Jews would be upset by this. After all, it seems insane that Jews would be against the notion of protecting their own co-religionists. But the Lefts obsession with race and identity politics leads directly to this logical conclusion.

To the Left, African-Americans and Latino Americans are a perpetual victim class, no matter the progress each community makes over time. As such, leftists feel a visceral guilt about these communities and will excuse any action in which people of these ethnicities participate. And even though Jews are a minority as well, their disproportionate success in America puts them on a pedestal above other minorities, such as African-Americans and Hispanics. As such, leftists will side with the supposed oppressed group, no matter what the truth actually is.

Even The New York Timesadmitted the conundrum for progressives in fighting anti-Semitism, noting that [I]t is the varied backgrounds of people who commit hate crimes in the city that make combating and talking about anti-Semitism in New York much harder.

How else do you explain New Yorks new law abolishing bail, which clearly will lead to spikes in crime, rampant witness intimidation, and more criminals out on the streets? Or the fact that the endorsement of Rev. Al Sharpton, infamous for his role in the Crown Heights riots of the early 1990s and the 1995 Freddys Fashion Mart massacre, is a de facto gateway to qualifying for the Democratic Party presidential nomination? Or that Democrats in the House leadership have met with the anti-Semitic leader of the Nation of Islam, Louis Farrakhan, and none have denounced him as the racist he so clearly is?

The answer is that intersectionality and identity politics are sacred cows to the Left. It is a golden rule that the color of a perpetrators skin is always more important than the actions they take. As such, as long as the culprit is not a white supremacist, as white Christian males are on top of the intersectional totem pole, Jewish blood becomes cheap to the Left.

We as Americans cannot let this stand. The cancer to the civil society that is identity politics must end now.

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FRANKEL: The Golden Calf of Identity Politics Must Be Destroyed. Jewish Lives Depend On It. - The Daily Wire

What To Wear In January: 5 Failsafe Outfits – FashionBeans

While the festive period does have its upsides (admittedly mostly food and booze-related), it also has a tendency to leave us all feeling a little sartorially sapped come 1 January. When youve spent the past month flitting between questionable novelty jumpers, cocktail attire and literally anything with an elasticated waistband in the days following Christmas, its easy to forget how to dress like a normal person.

What did you actually wear on a daily basis before all of the December madness? Our advice would be not to dwell on that, because while January may not be anyones favourite month, it is a time for reinvention and self-betterment. Yes, that often comes in the form of talking yourself into buying a reusable coffee cup or actually considering going to a spin class, but it can involve your wardrobe, too.

January is the best time of the year to play with some new looks and with that in mind weve pulled together a few failsafe, winter-friendly options to get your wardrobe mojo back. From tactile tailoring to stylish gym gear, heres what you should be wearing to kickstart the new year in style.

Wed all rather be sipping pina coladas on a beach in the Maldives than donning four layers just to step out of the front door, but sometimes in life youve got to take the rough with the smooth. In this case, literally.

Textured layering is what winter style is all about, but while most men have mastered the art of incorporating it into their casual wardrobes, tactile tailoring is often cause for confusion.

Our advice would be to keep things relaxed. For example, an unstructured blazer, sans shoulder pads, is always going to look better in a thick, textured fabric as opposed to thin plain wool. Textured tailoring is more casual by definition so keep the rest of your outfit in line. Think suede shoes over leather, a more varied colour palette than simply grey, navy or black, and some nice heavy knitwear to finish things off.

Even if the closest youre going to get to any sort of Alpine activity this January is taking the dog out for a spin around the park, theres comfort in knowing that your clothes are equipped to deal with whatever the elements can throw at them.

In one of our favourite developments in modern menswear, functional gear is now fashionable, meaning you can get kitted out in practical, outdoorsy garb and not come off looking like Bill Oddie.

Layering is key to keeping warm and dry, so combine a waterproof shell with an insulated mid-layer for best results. Down is great for the latter thanks to its unrivalled warmth-to-weight ratio. For full protection, throw in a pair of Gore-Tex sneakers, too. Theyre a big footwear trend as we head into the new year and will keep your feet dry in all those January downpours well definitely be getting.

You probably think January is all pouring rain, biting cold and soul-crushing greyness, and youd be right. However, for that very reason its also the perfect time to shop for a new big coat, which is never a bad thing.

Its tempting to reach for something simple and understated, but veering out of your comfort zone and investing in a statement piece can be a good way to inject a touch of fun into a time of the year that is typically anything but.

From bold, block colours to tastefully eye-catching prints, a big coat with personality should be top of every style-savvy mans January sale shopping list. How you wear it will largely depend on the type of coat, but the golden rule when playing with any sort of statement piece remains the same: let the loudest garment do the talking while keeping everything else nice and subtle.

From thick, duck-canvas chore coats to heavy Japanese denim, classic workwear was built with warmth and durability in mind. Its not technical, its not refined, but it does what it says on the tin and looks damn good while doing it.

The key to nailing it in winter is all down to layering. Four layers is a good number to aim for, including outerwear, to really create a sense of depth. Think T-shirt or long-sleeve, a fishermans knit or crew-neck, a gilet or overshirt and a chore coat to top things off.

For the bottom half, stick to quality denim, preferably selvedge, and some sturdy leather boots. Accessorise with a fisherman beanie and a casual, everyday timepiece.

Heaving your bloated carcass off the sofa and back into the gym after Christmas and New Year is never easy, but investing in some top-tier athletic gear can act as a bit of an incentive to get back on it.

Things like gym tights, compression tops, running gloves and and a hi-vis windbreaker are winter training essentials that will make that initial frigid jog or gym session just that little bit less painful.

In our experience, brands like Under Armour, Nike and New Balance are making some of the best and most reliable gear out there. However, for those keen to tighten the purse strings after a month of rampant spending, Uniqlo also has a very respectable range of workout clobber at prices that wont clear you out even further.

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What To Wear In January: 5 Failsafe Outfits - FashionBeans

Techilicious with Rajiv Makhni: How to have a healthier relationship with your mobile phone this ye… – Hindustan Times

In 2017, I wrote a column called Phone Slaves. I based it on research done at that time on what phone addiction was doing to us. I asked the question, Do you own your phone or does your phone own you? I quoted statistics from the study, including how 58 per cent of us use our phones while using the toilet (!), and 81 per cent check our phones during a wedding ceremony, while making out (!) and at a funeral! I gave solid tips on how to restrict this and wrestle some phone-life balance in your life. I thought there was enough shocking evidence in all of that to make a difference. I was wrong!

The New Study

Recently, an even bigger and more extensive study was done by smartphone maker Vivo and CMR that threw up even more frightening statistics. I posted some of those numbers on social media.

Im going to turn that study into a quiz that you must take honestly. Im also going to give you the stats from the Vivo/CMR study. Tell me where you stand (see below).

The hand-on-my heart quiz

1. How many hours a day do you think you use your phone? (An average Indian spends over 1,800 hours a year on their smartphone. Five hours a day!)

2. Can you spend five minutes having a conversation with friends/family without checking your phone? (A third of the respondents felt they cannot.)

3. How many minutes from the time you wake up to the time you grab your phone? (More than 50 per cent couldnt resist checking their phone within five to 15 minutes)

4. What do you do most on your phone? (Messaging and social media. WhatsApp closely followed by Facebook and Instagram.)

5. Whats your main trigger to keep checking messages/social media? (Seventy-six per cent check photos and videos/check how many likes and comments their posts got.)

6. Do you...

Feel compelled to constantly check your smartphone? (About 42 per cent do.)

Feel isolated if your phone isnt with you? (About 39 per cent do.)

Feel nervous if you run out of battery or leave your phone at home? (About 34 per cent do.)

7. Can you...

Survive without your phone for more than four hours? (Sixty per cent said they couldnt.)

Switch off the phone for over 24 hours (Never, said 96 per cent.)

Switch off from social media (Impossible, said 66 per cent, due to not getting updates or fear of missing out,)

How did you fare? Most people I ran this quiz by did much worse than even the study. The smartphone is the greatest communication tool of all time. Lets make sure we use it and not get used by it.

Here are things you can do right away to have a massive impact.

Dont do a digital detox and abandon your phone completely. That makes it much worse since youll obsess and fret.

Use a phone usage monitoring app that tells you the total time you used your phone, number of times it was unlocked and minutes spent on each app with a real time ticking clock.

Dont charge your phone in your room. When you dont see it, your need to check it reduces dramatically.

Ban phones any time the family or more than two people are together. Ban it from meals, the dining table and any family time.

Put all your social media apps, messaging app or any app that has a counter on it in a folder on the last screen. That short circuits your need for constant checking.

Allocate a total screen time for everyone in the family per day (two hours is the golden rule). Stick to it yourself to set an example.

Check yourself before you check your phone. As you reach for your phone, ask yourself: am I expecting something earth- shatteringly urgent? The answer is usually no. Put the phone back.

Sounds tough. But it isnt. Youll be shocked by what you get in return. Actual, real, meaningful time spent with real human beings.

Rajiv Makhni is managing editor, Technology, NDTV, and the anchor of Gadget Guru, Cell Guru and Newsnet 3

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Techilicious with Rajiv Makhni: How to have a healthier relationship with your mobile phone this ye... - Hindustan Times

4 Retirement Planning Rules to Live By – The Motley Fool

Retirement is a pleasant prospect to look forward to, but if you go into it carelessly, you may wind up miserable and cash-strapped rather than laid-back and content. To give yourself a better chance of landing in the latter scenario rather than the former, you'll want to follow these important rules.

Ideally, you'll have amassed a sizable IRA or 401(k) balance, or both, over the course of your working years. But how much monthly or annual income will you actually be able to get on a sustainable basis from your retirement accounts?

If you don't establish a yearly withdrawal rate and see what it means in terms of your savings balance, you won't have a clear sense of the lifestyle you can afford once you stop working.

Many financial experts suggest starting your calculations with the 4% Rule, which advises people to withdraw 4% of their savings balance in their first year of retirement, with adjustments in subsequent years to account for inflation. Follow this guideline, and even if your retirement lasts for three decades, you shouldn't run out of money.

Still, some advisors think that withdrawal rate is too aggressive, especially for people who retire early or who have low-risk, bond-heavy asset allocations, in which case 2.5% or 3% may be more suitable. Others suggest that you could be cheating yourself by taking out too little at 4%. Starting off with a 5% rate can lead to success too, especially if you're willing and able to make adjustments to your lifestyle during down markets.

Either way, find a withdrawal rate you're comfortable with, apply it to your savings, and see how much income it gives you.

IMAGE SOURCE: GETTY IMAGES.

For example, a retirement account balance of $400,000 may seem like a lot of money, but 4% of that is just $16,000 in annual income. Keep that number in mind as you make key decisions such as where you're going to live during retirement, whether you'll work part-time, and what sort of expenses to commit yourself to.

Though Social Security helps millions of seniors keep up with their living expenses, the benefits the program provides aren't enough to live on. They'll replace about 40% of your pre-retirement income if you're an average earner, but most seniors will need around twice that amount to live comfortably.

If you're nearing retirement without much savings, it could pay to extend your career a bit to boost your nest egg, and also, to allow you to hold off on claiming your benefits for as long as possible. For each year you delay filing for Social Security past your full retirement age (up until age 70), you'll boost the size of your monthly benefit payment by 8%.

Many seniors are shocked to learn the degree to which they're still on the hook for taxes in retirement. But if you've housed your investments in a Traditional IRA or 401(k), and not a Roth version of those accounts, then you'll pay taxes any time you take withdrawals from them. You'll also pay capital gains taxes on profits you take from stocks in traditional brokerage accounts, not to mention taxes on interest income, or earnings from any part-time job you take. And if you're a moderate earner or higher, expect to pay federal taxes on your Social Security benefits. State taxes may apply to those benefits, too, depending on where you live.

Retirees are 40% more likely than the still-employed to fall victim to depression, and much of that comes down to being bored. Rather than risk that fate, long before you leave the workforce, start developing up with a plan for how you'll spend your days, and make sure it's a reasonable one given your anticipated retirement income. For example, if you're looking at about $20,000 a year in Social Security income and another $20,000 from your investments, you may have a reasonably easy time paying your bills, but you probably won't have enough money to travel every other month. Make sure your ideas align with your financial circumstances, and if they don't, think up lower-cost alternatives.

Retirement can be a rewarding but challenging period of life. Follow these rules when you're planning for it, and you'll be less likely to get caught off guard by your situation when your golden years roll around.

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4 Retirement Planning Rules to Live By - The Motley Fool

What Is W&T Offshore’s (NYSE:WTI) P/E Ratio After Its Share Price Rocketed? – Yahoo Finance

W&T Offshore (NYSE:WTI) shares have continued recent momentum with a 31% gain in the last month alone. The full year gain of 18% is pretty reasonable, too.

All else being equal, a sharp share price increase should make a stock less attractive to potential investors. In the long term, share prices tend to follow earnings per share, but in the short term prices bounce around in response to short term factors (which are not always obvious). So some would prefer to hold off buying when there is a lot of optimism towards a stock. One way to gauge market expectations of a stock is to look at its Price to Earnings Ratio (PE Ratio). A high P/E implies that investors have high expectations of what a company can achieve compared to a company with a low P/E ratio.

See our latest analysis for W&T Offshore

W&T Offshore's P/E of 4.13 indicates relatively low sentiment towards the stock. We can see in the image below that the average P/E (11.2) for companies in the oil and gas industry is higher than W&T Offshore's P/E.

NYSE:WTI Price Estimation Relative to Market, January 5th 2020

This suggests that market participants think W&T Offshore will underperform other companies in its industry. Since the market seems unimpressed with W&T Offshore, it's quite possible it could surprise on the upside. If you consider the stock interesting, further research is recommended. For example, I often monitor director buying and selling.

P/E ratios primarily reflect market expectations around earnings growth rates. That's because companies that grow earnings per share quickly will rapidly increase the 'E' in the equation. That means even if the current P/E is high, it will reduce over time if the share price stays flat. Then, a lower P/E should attract more buyers, pushing the share price up.

W&T Offshore's earnings made like a rocket, taking off 52% last year. The sweetener is that the annual five year growth rate of 61% is also impressive. With that kind of growth rate we would generally expect a high P/E ratio.

One drawback of using a P/E ratio is that it considers market capitalization, but not the balance sheet. In other words, it does not consider any debt or cash that the company may have on the balance sheet. The exact same company would hypothetically deserve a higher P/E ratio if it had a strong balance sheet, than if it had a weak one with lots of debt, because a cashed up company can spend on growth.

Spending on growth might be good or bad a few years later, but the point is that the P/E ratio does not account for the option (or lack thereof).

Net debt totals 83% of W&T Offshore's market cap. This is a reasonably significant level of debt -- all else being equal you'd expect a much lower P/E than if it had net cash.

W&T Offshore trades on a P/E ratio of 4.1, which is below the US market average of 18.8. While the EPS growth last year was strong, the significant debt levels reduce the number of options available to management. If it continues to grow, then the current low P/E may prove to be unjustified. What we know for sure is that investors are becoming less uncomfortable about W&T Offshore's prospects, since they have pushed its P/E ratio from 3.2 to 4.1 over the last month. For those who like to invest in turnarounds, that might mean it's time to put the stock on a watchlist, or research it. But others might consider the opportunity to have passed.

Story continues

Investors should be looking to buy stocks that the market is wrong about. If the reality for a company is not as bad as the P/E ratio indicates, then the share price should increase as the market realizes this. So this free visual report on analyst forecasts could hold the key to an excellent investment decision.

Of course you might be able to find a better stock than W&T Offshore. So you may wish to see this free collection of other companies that have grown earnings strongly.

If you spot an error that warrants correction, please contact the editor at editorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned.

We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Thank you for reading.

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What Is W&T Offshore's (NYSE:WTI) P/E Ratio After Its Share Price Rocketed? - Yahoo Finance

Getting the Most Out of Offshore Oil Wells – The Maritime Executive

These research scientists can now predict the threshold at which an oil reservoir will produce sand and may collapse: From the left: Dawid Szewczyk, Andreas Berntsen and Lars Erik Walle. Photo: Thor Nielsen.

By Gemini News 01-03-2020 10:20:00

[ByChristina Benjaminsen]

Sand in the oil stream with the risk of well collapse is a well-known problem when sandstone reservoirs approach depletion. Advanced sensors and a super machine are helping research scientists to find the threshold at which profitable production ceases. This can increase the lifetime of reservoirs.

In mature fields on the Norwegian shelf those that have been producing for some time fluid pressure in the reservoir is reduced, resulting in lower resistance to the forces to which the reservoir rock is exposed. These forces cause sand and rock fragments to break loose from the well walls and mix with the oil or gas streams. This is called sand production and is a problem that applies particularly to older fields.

To exploit the resources in developed fields, it pays to produce as efficiently as possible from existing wells, and this requires knowledge of how to produce when the risk of sand production increases. This is what we are now able to predict more accurately, says Andreas Berntsen at SINTEF.

Taming enormous forces

Oil and gas are found primarily in layers of porous sandstone, where they fill pores in the same way as a liquid fills a sponge. Some of the most common reservoirs consist of sand grains that have become cemented together over geological time to form sandstones buried several kilometres below the surface.

If too much sand is produced from a well, it will cause disproportionately high wear and tear on valves and pipes. It can also result in plugging of the well, blocked equipment and reduced productivity. The sand must also be separated from the production stream, cleaned and disposed of.

Wells have to be drilled down into the reservoir to enable production of the oil or gas. When the valves are opened, oil and gas will stream out from the porous rocks into the well and up to the production platform or into pipelines on the seabed.

Reservoirs often lie at a depths of between two to five kilometres and the weight of overlying rock formations will subject the reservoir rock to considerable strain. The areaimmediately adjacent to the well is most vulnerable to damage if the rock is at the limit of what it can withstand, says Euripides Papamichos, the senior research scientist in charge of the project at SINTEF.

Old field of research

Sand production has therefore been an important subject of research for 25 years, both in order to understand the mechanisms at play and also to enable the prediction, handling, limitation or prevention of the phenomenon.

An important element of the research effort is the laboratory testing of sandstone, obtained either from quarries or directly from an oil field. A cylindrical hole is drilled into the sandstone sample, like a small-scale well. The rock is then placed in a pressure chamber where it is subjected to stresses imitating those in a reservoir. Large hydraulic rams apply varying pressure in different directions while oil permeates through the rock and into the well. As the stresses increase, it is possible to observe sand in the oil stream as the rock around the well becomes crushed.

The project is a knowledge-building project for industry (KPI), financed via the Research Council of Norways PETROMAKS 2 programme and by industrial partners. Both industry and academia are represented: Texas A&M in the US, Waseda University in Tokyo and NTNU are research partners, while industry is represented by Aker BP, Wintershall Dea Norge and American companies Hess, Occidental and ExxonMobil.

In the lab we can control pressure and flow and reproduce the stress and flow conditions that exist in various fields. We can also measure sand production and observe how the well walls are eroded. Based on this we can create models of when sand production will begin and how it will develop over time for different rocks. This is much more difficult to measure in the field, so the laboratory tests are valuable, says Berntsen.

Forces impact the reservoir from all directions

The vertical stress is the greatest, while the horizontal stresses are often somewhat smaller. Assuming that the stresses in the horizontal plane are equal in all directions makes the calculations and laboratory tests simpler. Most laboratories are not able to vary them independently anyway. The problem is that this does not represent the real picture in the majority of field situations.

In addition, long, inclined or horizontal wells have become more common and this makes the stress pattern much more complex. We know that rock strength depends on the stress pattern, and this affects sand production. However, only True Triax allows us actually to test the effect of the stress pattern, Lars Erik Walle of SINTEF Industry explains. He is referring to the departments latest major investment, the True Triaxial Test System, which can vary stresses in all three directions.

Specially developed monster machine

The True Triax machine is the only one of its type that can imitate conditions prevailing up to ten kilometres beneath the surface while allowing liquid flow at high temperature. The equipment is specially constructed for this laboratory, weighs ten tonnes and, has an output of 800 tonnes force on rock samples measuring up to half a metre in diameter.

For many years, SINTEF scientists have been developing test methods for studying sand production in the laboratory, but only now does the equipment permit the simulation of truly realistic stress conditions. Work on this project has been going on since 2017, and SINTEF scientists have now enlisted a Ph.D. research fellow at NTNU who will make a specific study of how sand production takes place in gas fields.

From physical measurements to computer models

The physical measurements from the laboratory tests, combined with models and simulations, are being used to develop a software application for estimating sand production.

We are building up a large knowledge base using different sandstones in the tests. However, all rocks are different, so our industry partners send reservoir rock samples direct from the field to be tested by us so that we can calibrate our models. Information from wells is then incorporated into the software, which calculates sand production from various parts of the well under given conditions. In this way the operators can compare different production methods, says Papamichos.

This article appears courtesy of Gemini.no and may be found in its original form here.

The opinions expressed herein are the author's and not necessarily those of The Maritime Executive.

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Getting the Most Out of Offshore Oil Wells - The Maritime Executive

With EPS Growth And More, BW Offshore (OB:BWO) Is Interesting – Simply Wall St

For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to investors, even if it completely lacks a track record of revenue and profit. But as Peter Lynch said in One Up On Wall Street, Long shots almost never pay off.

So if youre like me, you might be more interested in profitable, growing companies, like BW Offshore (OB:BWO). Even if the shares are fully valued today, most capitalists would recognize its profits as the demonstration of steady value generation. Loss-making companies are always racing against time to reach financial sustainability, but time is often a friend of the profitable company, especially if it is growing.

See our latest analysis for BW Offshore

Over the last three years, BW Offshore has grown earnings per share (EPS) like young bamboo after rain; fast, and from a low base. So I dont think the percent growth rate is particularly meaningful. As a result, Ill zoom in on growth over the last year, instead. Its good to see that BW Offshores EPS have grown from US$0.36 to US$0.45 over twelve months. Thats a 24% gain; respectable growth in the broader scheme of things.

I like to see top-line growth as an indication that growth is sustainable, and I look for a high earnings before interest and taxation (EBIT) margin to point to a competitive moat (though some companies with low margins also have moats). BW Offshore shareholders can take confidence from the fact that EBIT margins are up from 14% to 27%, and revenue is growing. Ticking those two boxes is a good sign of growth, in my book.

The chart below shows how the companys bottom and top lines have progressed over time. Click on the chart to see the exact numbers.

The trick, as an investor, is to find companies that are going to perform well in the future, not just in the past. To that end, right now and today, you can check our visualization of consensus analyst forecasts for future BW Offshore EPS 100% free.

It makes me feel more secure owning shares in a company if insiders also own shares, thusly more closely aligning our interests. So it is good to see that BW Offshore insiders have a significant amount of capital invested in the stock. Indeed, they hold US$166m worth of its stock. Thats a lot of money, and no small incentive to work hard. Despite being just 1.4% of the company, the value of that investment is enough to show insiders have plenty riding on the venture.

As I already mentioned, BW Offshore is a growing business, which is what I like to see. If thats not enough on its own, there is also the rather notable levels of insider ownership. The combination sparks joy for me, so Id consider keeping the company on a watchlist. While weve looked at the quality of the earnings, we havent yet done any work to value the stock. So if you like to buy cheap, you may want to check if BW Offshore is trading on a high P/E or a low P/E, relative to its industry.

You can invest in any company you want. But if you prefer to focus on stocks that have demonstrated insider buying, here is a list of companies with insider buying in the last three months.

Please note the insider transactions discussed in this article refer to reportable transactions in the relevant jurisdiction

If you spot an error that warrants correction, please contact the editor at editorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned.

We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Thank you for reading.

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With EPS Growth And More, BW Offshore (OB:BWO) Is Interesting - Simply Wall St

World’s largest offshore wind farm to pay millions after massive blackout – Recharge

The worlds largest operating offshore wind farm the Orsted-run Hornsea 1 will pay 4.5m ($5.9m) over its part in a massive blackout that left more than a million people without power last summer.

The 1.2GW Hornsea 1 off eastern England will pay out after dropping off the network as part of a wider sequence of failures that hit the UK system in August.

Along with a simultaneous disconnection by a gas-fired plant whose operator RWE will pay the same sum the event, triggered by a lightning strike on a transmission line, caused chaos to transport and other critical infrastructure.

UK energy regulator Ofgem, which launched a probe into the blackout, said: Consumers and businesses rely on generators and network companies to provide a secure and stable power supply. August 9 showed how much disruption and distress is caused to consumers across the UK when this does not happen.

That is why it is right that companies that were unable to keep generating have paid into our consumer redress fund.

The Danish offshore wind giant said in a statement sent to Recharge: Together with every organisation involved with the UK electricity system, we work hard to provide a reliable, resilient service and take any interruption very seriously. The power outage on August 9 was caused by an extremely rare sequence of events, involving a number of parties, and the issue we experienced at Hornsea 1 was quickly resolved.

However, in recognition of our role in the outage, we have offered to make a voluntary contribution to Ofgems redress fund. We have co-operated with Ofgem throughout their investigations and conducted a thorough internal review of the events in order to prevent a situation like this from happening again.

We will continue to work hard to bring clean, carbon free electricity to millions of homes across the UK.

Hornsea 1 was at the time of the blackout still under construction and only partly exporting power from its 7MW Siemens Gamesa turbines, the last of which was installed in October.

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World's largest offshore wind farm to pay millions after massive blackout - Recharge

Turbines of the year 2019: Offshore turbines – Windpower Monthly

MEDAL WINNERS

GEs 12MW Haliade-X direct-drive prototype was installed in the second half of 2019 in the Dutch port of Rotterdam.

This groundbreaking new offshore turbine sets several new wind industry standards.

First is the huge permanent ring generator, with a diameter of around 11 metres.

Second is the rating of 12MW, although the prototype permitting documents refer to 12-14MW, and well-informed sources claim the turbine is already being offered at the 14MW level.

Third is the 220-metre rotor 218.2 metres according to the permitting documents a world record in either case.

The 107-metre blades weigh 55 tonnes each, which, with the 600-tonne nacelle mass quoted in the permitting documents, adds up to a total head mass of 850-875 tonnes.

The Haliade-X features a state-of-the- art rotor and generator-rotor support solution that comprises a main bearing unit with a hollow shaft for easy hub service access, and two pre-stressed taper-roller bearings.

The latter is a departure from the "pure torque" solution deployed in the 6MW Haliade, but provides a similar air gap stability levels, according to GE.

The rated rotor speed is 7.81rpm, which for a 218.2-metre rotor diameter corresponds to an 89.2m/s rated tip speed, and represents a good compromise between aerodynamic performance and curbing blade leading-edge erosion risk.

SILVER Siemens Gamesa SG 11.0-193 DD Flex

The latest variation of SGREs offshore platform builds on a 1,000 direct-drive track record, with the recently announced upgrade to 11MW already winning a 140-unit contract.

The upgrade narrows the gap to GEs 12MW Haliade-X, and commercial production is due to start in 2022.

The turbines compact "box-type" nacelle enables easier manufacture and transport. Other features include an enlarged generator and 94-metre rotor blades made from C&GFRE.

A key overall objective was creating an optimal setup for utilising the existing mature supply chain, with additional cost savings through reuse of SGREs blade and nacelle factories.

The 11MW turbine has a specific power rating of 376W/m2, against 365W/m2 for the current SG 8.0-167 volume product, both designed for high-wind North Sea applications.

BRONZE Dongfang D10000-185

The typhoon-resistant direct-drive D10000-185 for high wind and IEC I/S has a 185-metre rotor diameter and was the first 10MW Chinese turbine to be announced.

The fully enclosed outer-rotor generator operates at 3.15kV medium-voltage level, against the wind industrys semi-standard of around 1kV.

Together with IGCT-based power electronics , this offers an efficiency improvement of 1-3% compared to low voltage, claims Dongfang.

The 10MW design builds on a 1,200-turbine onshore direct-drive track record, encompassing 3.XMW and the latest 4.XMW platforms.

The in-house manufactured blade features carbon in the structural main beam for a favourable 34-35-tonne mass for a 90-metre unit designed for IEC I (S) loads. Eight pre-series turbines are planned for 2020, with the next envisaged scaling step taking the machine to 12-15MW with a 230-metre rotor.

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Turbines of the year 2019: Offshore turbines - Windpower Monthly

How Will Transocean Weather The Lull In The Offshore Rig Market? – Forbes

The logo of Swiss rig operator Transocean is pictured ontop of its headquarters on October 2, 2012 ... [+] in Geneva. A Brazilian court has partially lifted a ban on operations of Swiss rig operator Transocean in this country in connection with a major ocean oil spill last year, the company and the court said on October 1. A Transocean statement said Superior Court of Justice President granted a request by the National Petroleum Agency (ANP) to lift a preliminary injunction requiring Transocean to stop its Brazil operations within 30 days. AFP PHOTO / FABRICE COFFRINI (Photo credit should read FABRICE COFFRINI/AFP/GettyImages)

Transocean (NYSE: RIG) has been cutting its rig count to improve utilization since 2016 in keeping with the slowdown in the general environment for offshore drilling operations. We expect consolidation and improved efficiency to be the two biggest themes in 2020 for offshore drilling companies. Trefis highlights trends in Transoceans Revenues over recent years along with our forecast for 2019 and 2020 in an interactive dashboard, parts of which are summarized below.

Transocean is an offshore rig and drilling company based out of Switzerland. It operates in 20 countries and employs 9,000 personnel.

Trefis

Additional details about how Transoceans rig count, day rate and utilization have trended over recent years is available in our interactive dashboard.

Whats behind Trefis? See How Its Powering New Collaboration and What-Ifs ForCFOs and Finance Teams|Product, R&D, and Marketing Teams More Trefis Data Like our charts? Exploreexample interactive dashboardsand create your own

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How Will Transocean Weather The Lull In The Offshore Rig Market? - Forbes

Jumanji: The Next Level Rocks To $550M WW, Closing Offshore Gap With Welcome To The Jungle – Deadline

EXCLUSIVE: Sony/Seven Bucks/Matt Tolmach Productions Jumanji: The Next Level is closing in on its predecessor, Jumanji: Welcome To The Jungle. With a $548.8M worldwide gross through January 2, the Dwayne Johnson-starrer now counts $209.7M domestic and $339.1M from the international box office. Comparatively at the same time in release, Next Level is slightly ahead (+3%) of the previous installment overseas and when excluding China. Including the Middle Kingdom, the latest Jake Kasdan-directed adventure is down by about 5%.

The film came on strong last weekend with just a 1% overseas drop and following muscular mid-week business in the Christmas corridor. Along with Disney/Lucasfilms Star Wars: The Rise Of Skywalker ($423M international/$840M global through Thursday), it remains a Top 2 choice in most key markets and is still to roll into Brazil later this month.

The biggest market thus far for Next Level is China with $41.1M (down from Jungles $78M with softer word of mouth in whats been a slower year for Hollywood fare), followed by the UK ($33.37M), France ($20.66M), Germany ($16.57M) and Indonesia ($15.1M). All figures are through Thursday. Domestically, The Next Level exceeded opening expectations in mid-December and should be at $234M by Sunday.

The 2017 Welcome To The Jungle, which acted as strong counterprogramming to Star Wars: The Last Jedi, counted China, the UK, Australia, France and Russia as its top overseas markets, playing to a very high multiple as it continued to beat the drum for weeks until its offshore final of $557.6M and $962.1M global (at historic rates).

The star-studded IP also features Jack Black, Kevin Hart, Karen Gillan, Nick Jonas, Awkwafina, Alex Wolff, Morgan Turner, SerDarius Blain and Madison Iseman, with Danny Glover and Danny DeVito.

The film kickstarted its global publicity tour in late November with a Latin America/Australasian media event in Cabo San Lucas, Mexico. There was also a three-city European tour.

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Jumanji: The Next Level Rocks To $550M WW, Closing Offshore Gap With Welcome To The Jungle - Deadline

Here’s Why You Should Retain W&T Offshore in Your Portfolio – Yahoo Finance

W&T Offshore, Inc. WTI is well poised to grow on the back of massive oil-equivalent reserves in the deepwater Gulf of Mexico.

Headquartered in Houston, TX, W&T Offshore, Inc. is a leading oil and natural gas explorer with operations primarily focused on resources located off the coast of the Gulf of Mexico. This enables the $782-million market cap company to develop significant technical expertise in the major prolific oceanic rift basin.

W&T Offshore, Inc. Price and Consensus

W&T Offshore, Inc. Price and Consensus

W&T Offshore, Inc. price-consensus-chart | W&T Offshore, Inc. Quote

Courtesy of solid prospects, this Zacks Rank #3 (Hold) stock is worth holding on to at the moment.

Whats Driving the Stock?

The prolific oil and gas offshore fields in the Gulf of Mexico (GoM) shelf have been primarily boosting the companys production since its inception. New discoveries in those fields, located at a water depth of 500 feet, will likely boost W&T Offshores production. Notably, the GoM provides unique advantages, including low decline rates, world-class permeability and significant potential reserves that are untapped.

W&T Offshore is growing its presence in the deep-water Gulf of Mexico fields, wherein production grew more than 500% and proved reserves surged nearly 900% over the past eight years. Notably, the company acquired interests in the prospective Heidelberg field in the deep-water Gulf of Mexico. Also, deep-water discoveries made in recent years have enhanced its prospects.

The company recorded 137.8 million barrels of oil equivalent (MMBoe) of proven or 1P reserves in the GoM shelf. In the deepwater GoM, the company has 19.8 MMBoe of 1P reserves. Significant proved reserve bases in both the shelf and deepwater resources will likely contribute to the upstream energy players cash flows.

W&T Offshore closed the Mobile Bay acquisition from ExxonMobil in third-quarter 2019. The assets, located in the eastern region of the GoM, include some onshore processing facilities adjacent to W&T Offshores existing properties. The acquisition is expected to lead to significant synergies and cost savings for the company. Also, this move added net proved reserves of 74 MMBoe to its portfolio. Of the total reserves, the vast majority are categorized as proved developed and producing.

Downsides

There are a few factors that are impeding the growth of the stock lately.

The company expects lease operating expenses through 2019 between $187 million and $193 million, indicating a significant increase from $153.3 million in 2018. Higher operating expenses will deal a major blow to its profits. As liquids comprise majority (53% in third-quarter 2019) of production volumes, the company is prone to oil price-related risks.

Moreover, as of Sep 30, 2019, W&T Offshore had a total long-term debt of $719 million, with cash balance of only $41.7 million, reflecting a weak balance sheet. This can hurt the company's financial flexibility.

To Sum Up

Despite significant prospects as mentioned above, higher operating costs and balance sheet weakness are concerns.Nevertheless, we believe that systematic and strategic plan of action will drive its long-term growth.

Key Picks

Some better-ranked stocks in the energy sector include CNX Resources Corporation CNX, Marathon Oil Corporation MRO and Frank's International N.V. FI, each carrying a Zacks Rank #2 (Buy). You can seethe complete list of todays Zacks #1 Rank (Strong Buy) stocks here.

CNX Resources earnings for the current year have witnessed four upward revisions in the past 60 days versus no movement in the opposite direction.

Marathon Oils earnings for the current year have witnessed six upward revisions in the past 60 days versus one downward movement.

Frank's Internationals bottom line for 2019 is expected to rise 23.8% year over year.

7 Best Stocks for the Next 30 Days

Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers Most Likely for Early Price Pops.

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Here's Why You Should Retain W&T Offshore in Your Portfolio - Yahoo Finance

Noble Energy Announces First Gas From the Leviathan Field Offshore Israel – Business Wire

HOUSTON--(BUSINESS WIRE)--Noble Energy, Inc. (NASDAQ: NBL) (Noble Energy or the Company) announced the commencement of natural gas production from the Leviathan field, the largest natural gas field in the Eastern Mediterranean.

David L. Stover, Noble Energys Chairman and Chief Executive Officer, stated, This is a historic day for Noble Energy. The safe and successful execution of the initial phase of Leviathan development has been world-class, continuing our exceptional track record of major project delivery. First gas is online less than three years from project sanction and capital expenditures were $150 million under budget. Combined with Tamar, our Israel assets provide a differential production profile and cash flow outlook for Noble Energy far into the future.

J. Keith Elliott, the Companys Senior Vice President, Offshore, commented, The supply of natural gas from Leviathan will enhance Israels energy resilience, enable further reduction of coal usage for electricity generation, significantly improve air quality and ensure long-term affordable energy for Israel. Leviathan natural gas provides redundancy in supply domestically and helps transition Israel to become a significant exporter of energy to regional and global customers for the first time. I would like to congratulate and thank the many individuals whose unwavering dedication and commitment have been key to bringing Leviathan to production.

The Leviathan field was discovered in 2010, and the initial development phase was sanctioned in 2017. The first phase of development consists of four production wells producing through two 18-inch, 73-mile subsea tiebacks to a processing platform offshore northern Israel. Located approximately 80 miles offshore in 5,500 feet of water, the field is estimated to have recoverable resources of 22 trillion cubic feet (Tcf) of natural gas from 35 Tcf of in-place resource. The first phase of development has a designed production capacity of 1.2 billion cubic feet of natural gas per day.

Noble Energy holds a 39.66 percent working interest in the Leviathan project. Other interest owners include Delek Drilling LP with 45.34 percent and Ratio Oil Exploration LP with 15 percent interest.

Noble Energy (NASDAQ: NBL) is an independent oil and natural gas exploration and production company committed to meeting the worlds growing energy needs and delivering leading returns to shareholders. The Company operates a high-quality portfolio of assets onshore in the United States and offshore in the Eastern Mediterranean and off the west coast of Africa. Founded more than 85 years ago, Noble Energy is guided by its values, its commitment to safety, and respect for stakeholders, communities and the environment. For more information on how the Company fulfills its purpose: Energizing the World, Bettering Peoples Lives, visit https://www.nblenergy.com.

This news release contains certain "forward-looking statements" within the meaning of federal securities laws. Words such as "anticipates", "believes", "expects", "intends", "will", "should", "may", and similar expressions may be used to identify forward-looking statements. Forward-looking statements are not statements of historical fact and reflect Noble Energy's current views about future events. Such forward-looking statements may include, but are not limited to, future financial and operating results, and other statements that are not historical facts, including estimates of oil and natural gas reserves and resources, estimates of future production, assumptions regarding future oil and natural gas pricing, planned drilling activity, future results of operations, projected cash flow and liquidity, business strategy and other plans and objectives for future operations. No assurances can be given that the forward-looking statements contained in this news release will occur as projected and actual results may differ materially from those projected. Forward-looking statements are based on current expectations, estimates and assumptions that involve a number of risks and uncertainties that could cause actual results to differ materially from those projected. These risks and uncertainties include, without limitation, the volatility in commodity prices for crude oil and natural gas, the presence or recoverability of estimated reserves, the ability to replace reserves, environmental risks, drilling and operating risks, exploration and development risks, competition, government regulation or other actions, the ability of management to execute its plans to meet its goals and other risks inherent in Noble Energy's businesses that are discussed in Noble Energy's most recent annual reports on Form 10-K, respectively, and in other Noble Energy reports on file with the Securities and Exchange Commission (the "SEC"). These reports are also available from the sources described above. Forward-looking statements are based on the estimates and opinions of management at the time the statements are made. Noble Energy does not assume any obligation to update any forward-looking statements should circumstances or managements estimates or opinions change.

The Securities and Exchange Commission requires oil and gas companies, in their filings with the SEC, to disclose proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. The SEC permits the optional disclosure of probable and possible reserves; however, we have not disclosed the Companys probable and possible reserves in our filings with the SEC. We use certain terms in this news release, such as gross recoverable resources, which are by their nature more speculative than estimates of proved, probable and possible reserves and accordingly are subject to substantially greater risk of being actually realized. The SEC guidelines strictly prohibit us from including these estimates in filings with the SEC. Investors are urged to consider closely the disclosures and risk factors in our most recent annual report on Form 10-K and in other reports on file with the SEC, available from Noble Energys offices or website, http://www.nblenergy.com.

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Exxon acquires over 1.7 million exploration acreage offshore Egypt – Reuters

FILE PHOTO: A logo of the Exxon Mobil Corp is seen at the Rio Oil and Gas Expo and Conference in Rio de Janeiro, Brazil September 24, 2018. REUTERS/Sergio Moraes/File Photo

(Reuters) - Exxon Mobil Corp said on Monday it had acquired more than 1.7 million acres for exploration offshore Egypt, strengthening its portfolio in the eastern Mediterranean.

Operations at the 1.2 million North Marakia Offshore block located about five miles offshore Egypts northern coast, and 543,000 acres in the North East El Amriya Offshore block in the Nile Delta are scheduled to begin in 2020.

Exxon marked its foray into gas exploration in Egypt by winning awards in one of the countrys largest-ever oil and gas exploration tenders in February.

Egypt Petroleum Minister Tarek El Molla had said that the country expects investments of at least $750 million to $800 million in the first stage of exploration in the total of 12 concessions announced in February.

Italys Enis discovery of the giant Zohr field in 2015, the largest in the Mediterranean and estimated to hold about 30 trillion cubic feet of gas, has raised interest in exploration in Egypt, with the country reaching maritime demarcation agreements with several countries in the region.

Reporting by Shanti S Nair in Bengaluru; Editing by Anil D'Silva and Maju Samuel

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Exxon acquires over 1.7 million exploration acreage offshore Egypt - Reuters

CTV pioneer readies for US offshore wind race – Riviera Maritime Media

With the US offshore wind market heating up, Rhode Island-based Atlantic Wind Transfers is emerging as a frontrunner in the race to own and operate crew transfer vessels (CTV) to support the nascent industry.

In December, Atlantic Wind Transfers ordered two new multi-hull CTVs from a US shipyard for delivery in 2020. They would be the companys second and third CTVs, following Atlantic Pioneer, the first such vessel built in the US under the US flag. Operating since 2016, Atlantic Pioneer supports maintenance operations for rsteds Block Island Windfarm, currently the only commercial US offshore windfarm.

Being a pioneer is nothing unusual for Atlantic Wind Transfers founder and president Charles A Donadio, Jr. In 1995, he was operating a successful sightseeing riverboat business out of the Port of Galilee in Narragansett, Rhode Island, when a business opportunity emerged right in front of his eyes.

I was sharing dock space with the Block Island Ferry, Mr Donadio tells Offshore Support Journal, and I could see from my ticket booth that they were selling out on weekends during the summer months, leaving passengers behind at the dock. I saw that they didnt have any competition.

At the time, Block Island Ferry owner Interstate Navigation only operated traditional slow auto ferries to Block Island. Mr Donadio put together a business plan and formed Island Hi-Speed Ferry, LLC, to operate the first high-speed ferry service from Point Judith to Block Island in 1998. After overcoming years of legal roadblocks from Interstate Navigation, Hi-Speed Ferrys 250-passenger Athena, built in 2001 by Gladding-Hearn Shipbuilding in Somerset, Massachusetts, entered service as the first high-speed ferry ever in Rhode Island.

In 2003, Mr Donadio sold his interest in Hi-Speed Ferry to establish Rhode Island Fast Ferry (RIFF). Using the same business model, he established the first fast ferry to market the island of Marthas Vineyard, a much larger market out of Quonset Point, Rhode Island. Ironically, the Athena was acquired by Interstate Navigation in 2006 for its Block Island Ferry service.

Offshore wind first came to Mr Donadios attention in 2011 with the proposed development of Cape Wind, an ambitious 130-turbine windfarm proposed for Nantucket Sound, off of Cape Cod. Hammered by powerful opponents from across the political spectrum from the Kennedys to the Kochs Cape Wind never got off the ground, finally succumbing to several legal and legislative challenges.

Mr Donadio, however, was intrigued by the industry and continued his research and discussions with others in the European offshore wind market, realising that operating CTVs was very similar to the fast-ferry business. We operate high-speed aluminium vessels, carrying passengers. CTVs are a smaller version of that, running passengers and cargo. And, the propulsion technology is similar between the two types of vessels, making CTVs a natural crossover for our captains and crews, he says.

When offshore wind developer Deepwater Wind (since acquired by rsted) issued a tender for a long-term charter of a CTV to support its five-turbine Block Island Windfarm, Mr Donadio was ready. After winning the tendering process, he signed a long-term charter agreement with Deepwater Wind for a CTV on 18 May 2015.

A day after the charter was signed, shipbuilder Blount Boats, based in Warren, Rhode Island, announced it would build Atlantic Pioneer, a 21-m, catamaran-hulled CTV based on a South Boats Isle of Wight design under a contract with Atlantic Wind Transfers.

Built to comply with US regulatory requirements, Atlantic Pioneer was delivered 1 April 2016 with the dual certification of USCG Subchapter T to carry up to 49 passengers and Subchapter L to carry up to 16 offshore workers. The CTVs propulsion system consists of two MAN V12-1400 hp engines, ZF Marine 3050 Gears, and HamiltonJet HM571 waterjets, with sprint speeds in excess of 28 knots.

Atlantic Pioneer can carry up to 12 tonnes of cargo in the bow and three tonnes of cargo in the stern. To facilitate this, the forward and aft decks are outfitted with cargo lashing and container sockets, and a Palfinger knuckleboom crane is fitted in the bow area.

The new CTVs ordered by Atlantic Wind Transfers will also be built by privately held Blount Boats, a relatively small shipyard with a big backstory. The shipyard was founded in 1949 by the late Luthor Blount, a recognised innovator in the US maritime industry. Blount Boats, still controlled by the Blount family, is now building a new generation of vessels for the budding US offshore energy business.

The newest CTVs for Atlantic Wind Transfers will be based on a Chartwell 24 design and customised to meet US operational and regulatory requirements.

Endangered Right Whales

The new CTVs will comply with regulations protecting the migration route of endangered Right Whales off the northeastern seaboard, with a specially adapted catamaran hull. Under the Right Whale Ship Strike Reduction Rule (50 CFR 224.105), vessels that have an overall length of 65 ft (19.8 m) or more are required to operate at speeds of 10 knots or less during Right Whale migration season in the US Atlantic, which runs from 1 November to 1 April. As the CTV will have an overall length under 65 ft (19.8 m), it can operate at normal transit operating speeds.

Besides modifications to meet the US regulatory requirements, designer Chartwell Marine has adapted the catamaran hull to handle Atlantic sea conditions.

Chartwell Marine managing director Andy Page says the design of the CTV was modified to ensure optimal performance for conditions off the coast of New England.

Mr Donadio says that in the coming months more details will be released on the new CTVs, including their propulsion technology. He says the boats will be capable of operating up to 150 miles offshore and will have sprint speeds in the range of 28 to 30 knots, with crew of up to four and capacity to carry 24 technicians very comfortably. Like Atlantic Pioneer, the new CTVs will also be fitted with a Palfinger knuckleboom crane.

The order for the new CTVs comes as the US Bureau of Ocean Energy Management (BOEM) is conducting an environmental impact review of the 800 MW Vineyard Wind offshore wind project, and a cumulative impacts analysis on other offshore wind projects proposed for the US east coast. The review was set in motion after the National Marine Fisheries Service refused to sign off on the Vineyard Wind impact statement. The pace of offshore wind development has also caused concerns among commercial fishermen who feel projects are moving ahead without fully addressing the impact on their industry. BOEM is expected to release the review in early 2020.

BOEM is also expected to conduct a new round of lease sales for offshore wind developments in 2020, including tracts in the New York Bight and offshore California.

Once BOEM releases its review, things could ramp up quickly, says Mr Donadio. Its going to come down to who can get an installation vessel for their project first. We want to be prepared and ready to support the US CTV supply chain.

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CTV pioneer readies for US offshore wind race - Riviera Maritime Media

Repsol to Abandon Offshore Guyana Well – Rigzone

by Matthew V. Veazey

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Tullow exec says oil discovery has positive implications for Kanuku and Orinduik blocks, though.

Tullow Oil plc reported Thursday that the Repsol-operated Carapa-1 exploration well offshore Guyana will be plugged and abandoned after encountering less oil pay than expected.

Preliminary interpretation shows that Carapa-1 drilled on the Kanuku license hit approximately 13 feet (four meters) of net oil pay and has extended the prolific Cretaceous oil play into Tullows Guyana acreage, the company noted in a written statement emailed to Rigzone. The firm added that rig site testing revealed the oil boasts a gravity of 27 degrees API and a sulfur content below one percent. It also stated the Carapa discovery suggests the extension of the Cretaceous oil play from the Stabroek license southward into the Kanuku license.

The Carapa-1 result is an important exploration outcome with positive implications for both the Kanuku and Orinduik blocks, commented Tullow Chief Operating Office Mark MacFarlane. While net pay and reservoir development and location are below our pre-drill estimates, we are encouraged to find good quality oil which proves the extension of the prolific Cretaceous play into our acreage.

The Valaris JU-144 (Rowan EXL II) jack-up rig drilled Carapa-1 to a total depth of 10,794 feet (3,290 meters) in 223 feet (68 meters) of water, noted Tullow, whose Tullow Guyana B.V. subsidiary owns a 37.5-percent interest in the Kanuku block. Operator Repsol Exploracion Guyana, S.A. also owns 37.5 percent, and Total E&P Guyana B.V. holds 25 percent.

We will now integrate the results of the three exploration wells drilled in these adjacent licenses into our Guyana and Suriname geological and geophysical models before deciding the future work program, concluded MacFarlane.

To contact the author, email mveazey@rigzone.com.

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Repsol to Abandon Offshore Guyana Well - Rigzone

Coming up in 2020: Offshore, carbon capture to be energy sector’s buzzwords – Down To Earth Magazine

Pressure on countries to fulfil energy aspirations alongside keeping the environment clean willfuel their growth

With 18 per cent of the worlds population, India faces the trilemma of achieving higher energy access alongside higher energy security and higher sustainability, according to a Niti Aayog report.

With increasing prosperity, an additional 315 million people almost the population of the United States (US) are expected to live in Indias cities by 2040. This will push the country towards a situation where it has to meet the energy aspirations of its people and also contribute towards keeping the environment clean.

In the decade that just ended, access and transition were buzzwords for the energy sector. These will continue but there will be a definite shift, given the emerging scenario.

While the previous decade was more about solar due to several reasons including falling prices and ambitious targets set by the Union government,in all probability, the buzzwords in the new decade will be offshore and carbon capture.

Due to an ailing coal sector as compared to renewable sources of energy, talk of technologies that can capture carbon has already begun. For instance, many experiments are being carried out in the US state of Wyoming, one the countrys largest coal producers.

Wyoming produces more than 40 per cent of the coal needed to meet the US electrical demand. However, the last few years have not been good for the state as US coal consumption has decreased.

It has reached its lowest level since 1979 because of competition from cheap shale gas and other sources of energy, which are cleaner. Policy makers in Wyoming are now considering advancements in carbon capture the trapping or reusing of carbon dioxide as one part of the solution.

In almost all countries, there is unprecedented pressure on utility companies to move to less carbon-intensive electricity sources. But there is another side of the story too.

It will be tough to meet the total energy demand without relying on thermal energy, that too for a country like India.Though, solar and wind are estimated to constitute half of Indias total power capacity by 2030 according to a report prepared by the Central Electricity Authority, polluting fuels will continue to produce half of Indias electricity by 2030.

To deal with such an issue where coal cannot be avoided, scientists have begun a few experiments to make coal a cleaner option for energy requirement. In Wyoming, an experiment has already begun in Basin Electric Power Cooperatives state-of-the-art coal plant, which has become the worlds only utility with carbon capture laboratories attached.

India will also have to think about such a solution in the future, if the above mentioned experiments bring positive results.

Other than this, India will also be focusing on unexploited offshore wind energy potential. There is a lot of that in the country, which has a 7,600-kilometre-long coastline.

The focus on offshore is increasing partly due to its global rise and partly the slowdown in the onshore wind energy segment. India has added just 3.3 gigawatt (GW) in the past two years, as reported by Down To Earth.

The government of India has already set an ambitious target of developing 5 GW of offshore capacity by 2022, and a further 30 GW by 2030.

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Coming up in 2020: Offshore, carbon capture to be energy sector's buzzwords - Down To Earth Magazine