Our track record in exploration has been absolute trash since Liza - notably with the Brazil campaign but also with west Africa, the GOM exit, and a recent high-profile dry hole in Atlantic Canada. Did we get rid of all the geologists who can actually find oil? It’s embarrassing that inferior companies like ENI, Total, and Shell are doing laps around us
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When could we find oil? Guyana was a total fluke. We haven’t been able to find oil for decades and should stop trying. Better off just buying our way in to discovered by others. How much money have we wasted trying and failing.
Is everyone else running laps around us? Nothing in Namibia has made it to FID several years post discovery and appraisal.
Geos lost our credibility through two geoscience senior leaders MC & SG when they way over promised Brasil.
Since then, we have been undervalued at the company with no senior leadership or advocates. Sadly, this is the case at almost all supermajors.
If you don’t invest in geoscience, what do you expect to happen? Good luck BTC oil finders
Shell is inferior to XOM?
Before the XTO acquisition XOM divested their Permian assets to XTO because they didn’t value them. XOM then bought the properties back when they acquired XTO. Genius.
The geo that built our Permian-Midland Basin position and an main architect of the Bass/BOPCO acquisition to build our Permian-Delaware position (XTO-Geology Manager for Delaware before getting pushed back to XOM) was PIP'd out....if that doesn't tell you something, it should. JS was the driving force behind 2 of the Corporation's 3 main oil plays and some mid-level XOM manager pushed him out. See his post on Instagram about Endeavor merger / Endeavor CEO Stevens and all the senior executives during the XOM-XTO years who validated it (XOM's XTO President, Senior VP's, etc) - and then he was just thrown in the trash.
They're not looking for oil . . . . they're looking for WATER, so they can "store" CO2 there and save the planet.
Don't you worry OP. ExxonMobil's safe. The outstanding engineers at BTC will find the oil that Darren wants. Trust them. They know what they're doing. :)
Exploration tapped out some time ago.
We have sh-t geos now! We are also chasing what folks thought 10 years ago