What international assets? EG is declining and Israel is well... leviathan is barely operating at 50% and has HUUUUUUUUGE downtime (Never even hit stated capacity) and Tamar is aging. There are no others assets. Frontier work is dead.
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Don’t need the a– kissers hitting the job market as well.
@1nwb+15LV2H8Y Noble’s performance, financial and otherwise speaks for itself.
First, Noble's US assets were paid too high, way too high. They were brought by incompetent middle management and VPs to please COO and CEO. So, nobody will buy them except for almost nothing. We would need to sell good assets, just like we sold GoM to FW, but we dont have many, if any. Secondly, Noble does not have people for international assets. There are a few only, bunch of cowboys who never traveled out of Texas, and a few younger folks with limited international experience. Not to mention that we lost our DW expertise and some knowledge we had.
To @1nwb+15LV2H8Y; re:"folks commenting on stuff they have no idea about as usual..." The people commenting here know as much, if not probably more than Noble management. You sound like Nbl mgmt. actually, truth hurts, eh sport!
folks commenting on stuff they have no idea about as usual...
That would make sense except the Permian assets aren't all that good, and have not been cash-flow positive. They could be sold, but only at rock-bottom prices. As far as 'concentrating on international assets', the problem is that essentially there aren't any. The Eastern Med is profitable, although there is little available cash for exploration. Exploration in the may be viable up to a point, but the area has a lot of dry gas and would require a thoughtful exploration program (rather than Noble's NV approach of let's just buy something), and cash. They would be most attractive to existing operators in the area. In West Africa the E.G. acreage could still yield some add-ons, but certainly not a game changer discovery since the area has already been picked over for years. However, the methanol project is still looking viable. And look what happened to exploration in Gabon and Congo - nothing. Colombia and Eastern Canada aren't very promising, after all. The best thing for the stockholders would be to spin off the Eastern Med as a stand-alone company, do the same for the unconventionals (with an eye toward a possible sale), and sell West Africa for what they can get.
Yeah...who’s gonna wanna buy indebted assets right now...particularly low quality ones.
There is a real irony to the unloved stepchild CO assets being the only ones worth a sh–.
Nobody wants Noble’s garbage onshore assets except maybe at a huge discount. They spent over $6 billion on Rosetta and Clayton Williams and yet 90% of their budget is spent in Colorado’s D J Basin. Noble couldn’t wait to be out of Colorado. Tired of the progressive politics in Colorado, etc. That’s why they bought Rosetta and Clayton Williams. Obviously those were poor decisions or they would be working those two assets. Noble is screwed. It’s over for Noble.
Don't hold your breath. Yes, shale drilling is flailing. But that doesn't mean the international operations will save the day. EG is in the process of blowing down. Nothing but diminishing returns there. Plus, the local government has a history of squeezing operators until they bleed. Israel is now on stream. But again, we're in the midst of a global gas glut. How long before the Israeli customers start screaming they're paying too high a markup. It's happened before and the regulators pushed for price cuts. It'll happen again and soon. New Ventures? LOL! Nothing coming out of that bunch. NV is just a giant black hole s-cking in cash. No. Noble will simply muddle along. Another zombie operator, barely alive.