Exit North Sea ASAP…who in the he-l will buy 3 Billion dollars worth of liability that is now producing less than 12,000 bopd…
Return the assets to BP for abandonment. Bankrupt the company in 2026 and keep the good pieces…. Just like Fieldwood did to Apache…
@b7 can Apache afford to decommission the BP and Exxon fields? They are investing $2 million a year on projects to keep it from falling apart…
They will sell more pieces of apa, to disguise bad performance, before going bankrupt. , Top executives main compensation is stocks… during bankruptcy stocks go to pennies
More like 5B.
@b7 12-15,000 bopd and boed with 6/1…drop that aged North Sea asset on 🤡 clown bp’s lap before a serious Tier 1 incident occurs…want scary just ultrasound thickness the riser section…corrosion at a maximum…the process kit is running on manual by brilliant control room operators….but, 2026 FAFO…
COP was announced as 31st December 2029 this is old news, it doesn’t mean the company is trying to sell the asset, they missed the boat on that years ago, it means that this is when all production will cease and then it’s onto decommissioning.
North Sea also produces around 45Mboed, nowhere near 12,000bopd!
Deferred maintenance will precipitate a negligent incident soon…the platform condition is atrocious
That outlook is old news.