"The worlds largest independent" is running a total of 12 rigs in the Lwr 48. With current oil prices, can this high-cost, process-burdened, slow-moving, poorly-managed enterprise make money in shale in this price environment? Don't think so. This company never talks about the commercial value of the EF, Bakken or Permian-Delaware. Conversations and presentations are limited to early production volumes. The commercial value is exposed in the poor Lwr 48 commercial performance every month,every quarter, every year.
Can't understand why there is a need for all the people & processes for a 12 rig program yielding non-commercial results.
In addition to Surmont, the Lwr 48 shale holdings should be sold or farmed-out.