Your perspective on this project…Does Apache remain profitable till first oil or Total takes the whole project
11 replies (most recent on top)
A birdie told me that the CEO of TE told the CEO of APA that he never would have agreed to the carry but it was already done when the deal was in the making. Do you think for one minute that TE could not pull off what Exxon did next door if they really wanted to do so?? APA is sc--wed by another JC/SR debacle.
APA has already lost its a-s and Total is just waiting out the demise by delaying the FPSO.
@ht You really can't see that I agree with that?
I put quotes because I was mocking the stupid question from the first reply.
@dw why do you make these assertions that are entirely false. The Morgu project has everything to do with employment or lack thereof. The company is being carried and any delay or technical issues has a consequence. As you know both Apa and Total top engineers displayed concerns about rock and fluid properties…so if this becomes a deepwater Alpine High APA may cease to excist…
There is no reason, unless TOE playing games, for this to take so long, or it’s not that profitable
It is the only thing that has inventory in few years, as today. Not much growth or success coming from Egypt and Permian. It is a non-operated asset, company doesn’t need a big team for it. With this oil prices staying on the “low” many Permian inventory/space reducing is on hold.
"How is the biggest project in the company's portfolio, and the biggest splash it has made since the Alpine failure, related to its ability to continue to employ people?"
With this level of industry expertise I am guessing you work in HR or are an exec checking on the underlings!
Apache will never see a dime of revenue from Suriname. Total is dragging their feet so APA goes insolvent and they can forgo the $5b carry. There is no way on Earth that it takes this long to get an FPSO on station and drill production wells. The executive team and BOD are useless.
I doubt they’ll survive that long. Lots of capital requirements and if they sell too many assets they’ll have negative cash flow. If it wasn’t for the Chenier contract they’d be out of business. The day to day E&P su-ks.
Gran Morgu results and timing will precipitate either a positive or negative outcome. Expect layoffs in 2026…the Abandonment liabilities is going to get intense now that North Sea is on life support…Any clown 🤡 operator consider buying North Sea?
How is this connected to layoffs? Do you even work here?