matt2018 wrote: There are reasons why Venez reserves will stay in the ground.
Only ones that are there now are recouping some of their losses and then they are out.
You would have to be quite dumb to go back in there to invest billions$ for the long term.
Why do you think they have their eyes on those Guyana assets?
As for future Cdn Oil Sands projects (even when you get a favorable gov't) you would need a real shock to system where oil price goes parabolic to get these massive investments sanctioned.
Not many have the appetite to increase debt (unless they can buy existing production at a steal).
Common theme right now is return more and more FCF back to shareholders.
Priorities are pay down debt, share buybacks, maintain divs.
Many have plans in place to return 100% of that FCF when certain debt objectives are met.
They dont look like they are in expansion mode anytime soon.
meritmat wrote: yes theres depletion but also remember theres countrys with massives reserves that have not been brought to the market.
Venezuela comes to mind. Heck theres even a bunch of oil sands project that could come on if the right goverment gets in.