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28-08-2014, 12:46 PM
Gorgon by Chevron going to bleed for sometime as there is no buyer for the heavily invested project (54B).
So how can there be any money left for Oil Co. to find new oil field.
With major oil field finds getting more expensive and development too risky, oil Co. will go into fracking.
This is a significant industry shift and it will result in less spending on rig.
1 might add, the beginning of a major downtrend from the peak!
So how can there be any money left for Oil Co. to find new oil field.
With major oil field finds getting more expensive and development too risky, oil Co. will go into fracking.
This is a significant industry shift and it will result in less spending on rig.
1 might add, the beginning of a major downtrend from the peak!