When you cannot consistently replace reserves (R/P), you buy it. Who's the next target now that the recent acquisitions have been baked into our street metrics?
13 replies (most recent on top)
@1va
Hey, it’s okay, settle down… a little heat, a little kerosene solvent… we can load that stuff onto a boat.
Venezuela? Do we still have staff compenticy in ultra-heavy or have all those folks retired or been laid off? There was a time when we were a leader in heavy (had our own BU-division and ETC-Tech group, but I can't think where our reservoir of petrotech telent is hiding after a decade or two of all in on untra-light fracking. Maybe we can drag some old dogs back on the boat, but few will be interested after a decade of super market gains.
Oxy
@1cz what are you talking about? We are going to need to feed that power plant with ALPINE HIGH GAS!!!
@a3 APA is a train wreck with no good assets. The best thing for that company is to continue its slow rot to death.
@jh
Sooo muuuch winnnnning!!!
We are selling most of Angola, Hong Kong and half of our other Asia assets. We need all that money for the $7 billion for Venezuela.
There’s your next major “investment”
Venezuela, hello.
We’re trying to find it in the gulf. Haven’t you seen all the lease sales we’re getting!
Won’t be in the USA, or at least exclusively.
Chevron wants less exposure to shale
Recent IT job posting said fluent Arabic a plus
Maybe Diamondback Energy, Devon Energy (once it becomes a pure play), or Woodside Energy
I have no information whatsoever, but if I were to bet, I'd say APA.