Infill Thinking Lifting the O&G knowledge curve
This past weekend, we read a half dozen transcripts of earnings calls from the oil majors and national oil companies (NOCs). The big guys are all whistling the same tune.
They are successfully re-engineering pending deepwater projects to fit $50 oil (and below). They are ready to clear their final investment decision (FID) pipelines. And a large and growing list of pre-FID deepwater projects now tout breakevens as good or better than the Permian Basin.
It has taken deepwater operators longer than the tight oil crowd to figure out how to adapt to $50 oil. But during the past few quarters, the majors have made some tremendous strides. Although FIDs have been few and far between over the past several years, the playing field is starting to skew more positive following this re-tooling.
We now expect to see a flurry of projects move past FID over the next 12-24 months (most welcome after after a 2.5 year hiatus).
Here is why…
There’s a lot more to this story…
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