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Total Still Cautious
Patrick de La Chevardiere, Chief Financial Officer of French oil giant Total SA, thinks that potential acquisitions are still too expensive, according to a recent article in “Rigzone”. Many industry observers predicted a wave of consolidation deals after Shell announced its merger with British Gas. However, La Chevardiere feels that the price Shell paid was… Read More
A View from Austin
Todd Morgan, President of Morgan Capitol Consulting, recently addressed a meeting of the Houston Association of Professional Landmen. Morgan is a legislative liaison, commonly known as a lobbyist, who endeavors to influence legislation on behalf of the energy industry. His remarks covered a number of topics, but his primary emphasis was on fracking, tax cuts… Read More
500,000 bopd ‘Fracklog’?
A recent article in “World Oil” cites analysis by Bloomberg Intelligence which indicates that the ‘fracklog’ (inventory of drilled and cased but uncompleted wells or DUC’s) could total 4,731 wells capable of producing 500,000 barrels of oil per day (bopd). This would be more than the annual production of the nation of Libya. Some industry… Read More
Crude Oil Price Drivers
In today’s current and volatile market it is tempting to get caught up in daily price fluctuations and the reasons for short term swings. For a capital intensive industry such as energy, with long lead times from prospect generation to actual hydrocarbon sale, it is beneficial to step back and take a look at strategic… Read More
Statoil Foresees Further Mergers
“World Oil” reports that Eldar Saetre, the Chairman of Norwegian producer Statoil, foresees more merger and acquisition (M&A) activity in the wake of the Shell-British Gas deal. He feels that future M&A’s are especially likely if oil prices remain depressed. Currently, the biggest obstacle to more deals is the high valuation expectations of potential sellers. … Read More
