RE:More hurdles upcoming...Glad you stopped by to provide your opinion.
(drilling in a country that will demand high royalties)
Do you know the royalty structure? And how they measure up to other principalities?
(every major oil company holding back on developing their own fields)
Conoco: The planned ~$7.2 billion in 2022 capital expenditures Approximately 60% of total planned capital will be directed to the Lower 48 for short-cycle investment across the company’s extensive, high-quality unconventional asset base.
Exxon Mobil Corp. said Tuesday it plans to boost output by 25% this year in the Permian Basin, the biggest U.S. oil-producing region. That comes four days after Chevron Corp. announced it will ramp up its own Permian supplies by 10% from an even larger production base. Such aggressive targets from the Western world’s largest oil majors are a surefire sign that U.S. shale is back to growth mode after cuts in 2020 and a lackluster 2021.
Hmm, holding back...