APC deep water assets are cash flow negative at oil prices less than 60 USD
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Post was likely referring to fatality records, not slips trips and falls. Although handrails could have potentially helped a couple of the 2019 GOM fatalities.
Yeah ok sure. You tell yourself that when other folks are drilling and completing wells for less than half of what you spend. At least we hold on to our handrails while we spend more than $200 MM per well.
Hey non-op partner, be careful what you wish for and consider APC GOM’s safety record compared to those you believe would be preferred partners.
APC and now Oxy are horrible DWGOM operators. Constant issues drilling and intervention with AFEs being overrun everytime. Please sell to someone who knows how to operate!! Shell I'm looking at you!
Yeeesssss, yes. That’s right Oxy. GOM is waaayyy too expensive to operate. You really should sell it. You should get it off your books ASAP. Fire sale.
GOM should have a new owner. Someone who understands Deepwater.
OP shows the level of understanding typical in OXY for DP GOM assets. Sad!
I really hope this person is joking or at minimum a janitor at greenway...
Cash flow positive at $30, as soon as commodity prices get to that price GoM will be sold to Shell, CVX or Total for $5B. The only reason to keep GoM was cash flow to pay the dividend and that’s gone now. OXY needs to sell GoM it’s evident you all don’t know deep water operations, drilling, completions or BSEE regulations and the minimum requirements to operate and hold lease blocks. Your approach in GoM is the same as onshore and it won’t work.
Way too generic of a statement and not true