Post by
drunk@noon on Oct 26, 2023 4:49pm
Hess (know taken over) has a decade worth of wells to drill
on their G properties. No need to aqjuire any more. Their plate is full and post aquisition their are a whole lot of plays battling for capital to develope them. And guess what incremental money can be turned to cash very quicly by allocating it towards the Permian rather than adding to their G offshore portfolio which already requires an outsized amount of capital. So why instead of putting an additional dollar towards the permian, would they be interested in some unproven resources that may be developed, what, 10? 12? years down the road once their other guyana wells are drilled.
Comment by
Kelvin on Oct 26, 2023 6:33pm
Yes shale plays are very popular because they're quick cycle cash to cash. Cash in to drill and produce for cash out about one month in the Eagle Ford. Permian is probably the same. That's why Exxon just paid $60 billion to buy Pioneer. So compared to other investments, yet to be proven, Corentyne may not be that attractive.