GREY:PRBEQ - Post by User
Comment by
johnboyltdon Mar 16, 2015 6:53pm
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Post# 23527653
RE:324 mil OS 95 mil in Liabilities
RE:324 mil OS 95 mil in Liabilitiesmost of the liabilities are Asset retirement obligations which they have taken on as payment for producing fields.(75 million approx.) and their own fields, they can redevelop these fields and retire them themselves more cheaply, hence their strategy and the reason (I think) for the consolidation. However the current price of oil makes these field less attractive. OTOH, it may bring more sellers to the party as marginal fields will be less viable. This will benefit their abandonment business!