Chapter 603 Insider Trading
Gu Haijian slowly and evenly applied the removed oil droplets on a quartz column with quartz particles and used it for thin-layer chromatography analysis.
There are many ways to determine petroleum components, and the composition of crude oil around the world varies greatly. Whether it is gas chromatography, liquid chromatography, mass spectrometry, nuclear magnetic resonance spectrum, infrared spectrum, etc., there are application conditions. In geological research, the most commonly used is thin layer chromatography hydrogenation flame ion detection technology.
Gu Haijian did it very seriously, writing quantitative readings of saturated hydrocarbons, aromatic hydrocarbons, gums, asphaltene and most important sulfur content on paper...
This work is meticulous and tedious, the opposite of the chaos of celebrating the crowd outside the window.
The first thing that pops up is the sulfur content.
"0.17, it's really sweet crude oil." Gu Haijian's face was curled up.
Low-sulfur sweet crude oil is a very important resource. In the early days of the oil era, crude oil was mainly used to produce kerosene lighting. Kerosene with high sulfur content would emit a significant odor in the room, so it could not be used at all. It was not until a chemist adopted better refining technology that acid crude oil was available.
However, no matter what era, sweet crude oil is always used more than sour crude oil. High-grade gasoline, diesel and high-quality aviation fuel can only be produced with sweet crude oil for a long time. Factory using sour crude oil as raw materials is not only expensive to produce, but also lags behind sweet crude oil factories.
Until the 21st century, many refineries around the world could only use sweet crude oil. They would rather spend a higher price than purchase sweet crude oil than purchase more easily available sour crude oil.
The sulfur content of 0.17 is much lower than the sweet crude oil standard of 0.5. It is a standard high-quality sweet crude oil. Correspondingly, crude oil produced in Shengli Oilfield and other places is often super acid crude oil with a sulfur content of more than 2.5.
The Setan Oilfield also produces rare sweet crude oil, but its output and reserves cannot be compared with super oilfields.
Gu Haijian quickly pulled out the readings of the previous oil well for comparison.
A sulfur content of 0.62 means that the previous oil well is also a good oil well, but it is far from comparable to the current one.
"It seems that the second oil field has been found." Gu Haijian took a deep breath, looked at the black fountain in the brightly lit front, and thought to himself: If there is a daily output of 30,000 barrels... No, if there is a daily output of 10,000 barrels, the No. 2 oil field will probably be another elephant!
I don’t know how many people will be crazy if they get two elephants in one bid.
Gu Haijian looked up and did not go out to report immediately, but continued to compare other components. What he needed was a foolproof answer, and would rather be slower.
The auxiliary ship started slowly and drove a little further to avoid the black oil fountain. The sailors took a bath with fire hydrants and washed all the black people on the ship. The gentlemen who liked to be clean went down the deck to change their clothes, and those who had no clothes simply took off their coats and still drank on the boat to relieve the cold.
Whether it is an employee of Dahua Industrial or a representative of a non-Dahua company, it is very welcome to the emergence of Well No. 2. There is such a reason that it seems that it has become natural to drink more boldly.
When all the wine stored on the ship was consumed, Gu Haijian, who was staying in the rear cabin, finished all the analysis and comparison work and formally issued a test report.
He washed his face with cold water, and after he woke up, he came to Sucheng with the report in his hand.
Including several representatives of foreign companies, everyone knew Gu Haijian's identity and could guess what he was doing.
Even the drunk guy is now standing firm with the help of his colleagues, looking at the thin report with anticipation.
"Dr. Su, I analyzed Well No. 1 and Well No. 2, and the conclusions are as follows." Gu Haijian handed the report to Su Cheng.
"You can tell me." Su Cheng used English and opened the report himself to read it.
The pages of paper are full of data and tables, which is very fond of Su Cheng's appetite.
Gu Haijian was excited and said in English: "The analysis report of Well No. 1 was completed three days ago. Compared with the analysis of Well No. 2, I can conclude responsibly that the two wells belong to different oil fields, and the output of Well No. 2 will be more optimistic."
"In other words, we have found two oil fields now, right?" Su Cheng confirmed.
Gu Haijian nodded affirmatively and said, "It's definitely two oil fields."
Sucheng nodded slightly. The Azijiu oil field itself is composed of three large oil fields, Aseri, Zirag and Juneshri, and its difficulty and depth have also increased accordingly. When determining the locations of the five drilling platforms, Sucheng considered the orientation of the two oil fields Aseri and Zirag. Now, the No. 2 oil well should have been successfully hit on the edge of the Zirag oil field.
As for Jiuneshri, it is a deep-water oil field with a relatively remote location. In terms of construction costs, it will take about US$5 billion to US$10 billion to be fully developed for the Aseri and Zirag oil fields, and it is estimated that more figures will be needed to develop the Jiuneshri oil field.
Most of the cost of barrel oil is reflected here. When exploration is over and the appearance of the Azijiu oil field is completely revealed to the world, tons of development costs can completely overwhelm a medium-sized oil company, and it is difficult to persist even by relying on bank loans.
Dahua Industrial has also achieved its current scale, and coupled with the advantages of Chinese companies, it has dared to get involved in this level of offshore oil development.
Several company representatives around him listened to their conversation and stayed for a while. Next, Gilles from Fina Company snatched the analysis report and asked while looking at it: "Are there any estimates of reserves? How many reserves are there in oil fields No. 1 and No. 2?"
Gu Haijian looked at Sucheng and replied: "The reserves of oil field No. 1 have been calculated to be more than 1 billion barrels, but the reserves of oil field No. 2 are still not confirmed."
The reserves of No. 1 oil field have more than 1 billion barrels, but it is not possible to get a near-accurate answer in a few days. 1 billion barrels is the standard for elephants, which is enough to attract sufficient attention.
The foreigners surrounded Sucheng's eyes lit up like cats.
Why are they staying on such a comfortable bumpy ship? Isn't they just to see crude oil production?
It doesn't matter if the output of Well 2 is not sure, but it does allow them to see the potential of this place.
Su Cheng whispered: "Everyone, let's talk about something specific."
"Of course, we should talk about specific things." The Spanish smiled as if he stuffed a football into his mouth.
Gu Haijian retreated lightly. His task had been completed, but his physical fatigue made him so sleepy that he wanted to fall to the ground and sleep immediately.
Before his consciousness was hazy, Gu Haijian's eyes were unnaturally aimed at the offshore drilling platform.
"Go and see those guys." Gu Haijian recalled several exchanges with the drilling team. Although it was not always so pleasant, the crude oil was indeed drilled below 3,000 meters. For this point alone, I have to admire the drilling team leader's persistence and confidence.
Not every drilling captain has such confidence and courage. The so-called oil flowers are often like a spoonful of oil poured into a river, and will miss it if you blink or turn around. It is not surprising to see oil flowers, but it is rare to believe that you did not see oil flowers.
That means that Li Hu strictly follows the rules from beginning to end and monitors the drilling conditions. It sounds easy, but Gu Haijian, who is familiar with marine drilling, knows that there are only a handful of drilling captains who can do this.
Science comes from observation and recording of objective things. Gu Haijian feels that it is necessary to meet this confident and persistent drilling captain.
He greeted the sailor and asked to arrange a boat to go to the drilling platform. At the same time, a woman holding a hand camera also appeared beside her.
"I am Jin Huiyuan from Dahua Public Relations Department and went to interview Captain Li Hu." The woman wore work clothes and stuffed her long hair into a hard hat. Her image became much neutral, but it was still completely different from the rough men commonly seen at sea.
Gu Haijian's mood suddenly became strange.
...
Inside the cabin, representatives of companies began to argue endlessly about the funds raised and the time for the start.
With as little money as possible and as fast as possible, the risk can be reduced as much as possible, but it is also likely to reduce returns.
Although everyone wants to make money, if you make 10 million yuan in futures trading, you may have to invest 100 million yuan or even more. Although you can adopt leverage, leverage also means amplifying risks.
In the game of risk and return, even inside transactions are 100% stable. The company's smallest overall company, the French Finer and the US Siegel all hope to keep the capital usage within US$100 million.
With leverage, it is not impossible to make 20 to 30 million US dollars with 100 million US dollars. After all, there will be double returns of one in and one out.
However, from the perspective of Sucheng, it is difficult to encounter an oil field for a century. If the investment amount is only a few hundred million US dollars, it is really meaningless. Moreover, the amount of this money is far from affecting oil prices. At most, it will only make some tolls as the oil waves rise and fall.
"The investment amount of US$500 million is the minimum, and it must be able to accept 50 times the leverage." Sucheng quickly stated his request.
Kang Le, the president of the British Global Company, immediately shook his head: "It's just two oil fields, and it's still too much to invest $500 million. The most important thing is that the two oil fields have not yet been put into production..."
"This is just the beginning of a series of oil fields. The premise for our operation is that Aqijiu Oilfield will be an amazing oil field. I mean it is not a reserve of 1 billion barrels or 2 billion barrels, but at least 10 billion barrels of production. You have seen at least 1 billion barrels now. I believe that within a few days, you can see 2 billion barrels or even 3 billion barrels. If you wait, there are two oil fields you have discovered now, at least 5 billion barrels. There is nothing more that can hit the market better than excessive crude oil."
"No matter what, I still haven't seen a 5 billion barrel reserve."
"If the 5 billion barrels of reserves are announced, wouldn't the money we make should be reduced?"
Kang Le was somewhat convinced and asked: "Dr. Su is really confident to see a reserve of 10 billion barrels?"
"I said this when I didn't have a single oil well. You don't believe it. There are already 1 billion barrels now. You can't believe it yet. It seems that winning trust is really a major project." Su Cheng laughed haha.
"Production is the real focus." The representative of Spain's Repsol has always been very active, and smiled with his front teeth: "The current output is 100,000 barrels per day. Opening a few oil wells will make it a big problem to break through the 200,000 barrels per day. If it breaks through the 300,000 barrels per day, it would be amazing."
As soon as these words were said, several people felt strange in their hearts.
The price changes in spot oil and futures are often determined by the change of output of 1. Because oil storage is not easy, and the scale is very large. A daily output of 300,000 barrels means 40,000 tons per day. If a large tank for oil storage is built, the area will occupy a large scale. On the other hand, it is not easy to increase production or reduce demand. Refineries and chemical plants cannot not produce one day, automobiles cannot be used, and oil fields cannot produce more production. Because of this, the oil market is called hard elasticity, but in fact it is inelasticity. Oil production is calculated in days. If demand increases, only the price will rise. If demand is reduced due to price reasons, the price will be slightly lowered and then rise again. In the same way, if oil production increases, the demand does not increase, and the price will naturally fall.
Libya is an obvious example. Its annual output is only 2 million barrels per day, accounting for less than 2 of the world's production. However, when Libya's production dropped by half, that is, 1 million barrels per day, the world's oil market was affected. When the prospects are unclear, no reserves can play a role.
"In my opinion, we will start raising funds now. When the funds are in place, we may see the third oil well in Dahua." Repsol's representative has rich physical movements and almost knocked off his cup with his elbow.
Money from insider transactions cannot be directly transferred, and it always needs to be collected through many channels. Fortunately, oil companies always have many foreign accounts, so they are not unfamiliar with this.
"Then let's invest based on 500 million yuan." The representative of Kangle Company finally made up his mind.
Su Cheng smiled, but said: "If the output really reaches 300,000 barrels, the basic investment should be continued to increase."
"Add to increase?" For a large and medium-sized oil company, the principal of $500 million is indeed a lot.
"I don't know if I can meet the oil field in this life. If I meet it, I will never be willing to have the small fish on the market." Su Cheng's tone was not relaxed, but it made several people smile.
Indeed, if you have 300,000 barrels as the foundation, it is also appropriate to increase your investment.
"It depends on Dahua Industrial." Gilles picked up the wine glass and smiled: "I hope that during the time we raise funds, we can see more oil wells and oil fields born!"
When the French said this, they did not guess any subsequent developments.
…(To be continued. Please search for Piaotianwen, novels are better, updated and faster!)
Chapter completed!