Once again, how does any management in exploration still have a job? Anyone who was part of the deep water exploration program should have been shown the door in 2015. Shell has worked hard to cut costs, I don’t think it has anything to do with deepwater being better than shale...it’s not. When sh-- his the fan in deepwater it’s bad, real bad.
Angola, HPHT UK, Deepwater Canada, Offshore AK, Chile, Powder River, Argentina, Colombia, almost selling Eaglefart, completely missing Permian and getting in too late to get any good acreage (barely missing out on selling China Draw and the other DB acreage), missed the Marcellus, scrambling to buy others acreage in the Montney...the list goes on. Exploration is risky but you should find something at some point, we are just incompetent plain and simple.
If Willow plays out like other COP ‘discoveries’ we are in a world of trouble. There is only so much lipstick you can put on a pig.
Originally posted by @UP0lGV8-nrp, well said.