Any scuttle but from Egypt? Hearing that divestment is a possibility. It would simplify the company tremendously. Next hurdle offload the BP and Exoon North Sea Assets back to BP and Exxon…
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Is the Egypt HOU team necessary?
@1xk th3e issue is that APA allowed themselves to be pushed around by TE and not do any subsequent exploration.
https://oilprice.com/Energy/Energy-General/Surinames-Oil-Dreams-Collide-With-Geological-Reality.html
I love crapping on APA more than anyone, but you guys need better material.
Who knows, they keep selling pieces of the company to mask bad performance.
That would align with JC’s dream of a mainly US unconventional company, but unless they need the money I don’t see them selling it, maybe another chunk to the Chinese? But remember, Hess had to sell a lot of assets to finance Guyana. Apa initial investment in Suri is low, as TE carries most of the costs. That also means a long time before Apa sees a positive cash flow, maybe around 2031-2032? Because TE will recover the initial investment money first.
Just like Fieldwood did to Apache Et Al
BP and XOM would be handed assets in a bankruptcy hearing. The regulators would find the original operators liable for decommissioning at +4 billion dollars
Why would BP or Exxon buy back the liability for the North Sea? They both have better places to put their money.