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London, United KingdomPetroEquity Signal news
PetroEquity Signal founder Oberon Houston will join global upstream leaders at the fourth World Energies Summit, a two-day forum focused on the strategic issues shaping the international oil and gas industry.
The latest
01Kosmos Energy found Jubilee, opened a major gas province offshore Mauritania and Senegal, and built a much larger E&P. Shareholders were left with something very different. This is the story of how exploration success failed to become shareholder value.
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02For decades, upstream was assumed to be the cash engine of the integrated oil company. But the post-separation performance of Marathon, Murphy and ConocoPhillips suggests the harder question is not where the cash is generated, but what management does with it.
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03Murphy Oil was once an unusually complete and technically ambitious oil company for its size. Over the past decade, much of that business has been sold, separated or reshaped. This article looks at what Murphy built, what changed, and why the shareholder outcome has been far less impressive.
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New episodesPetroEquity Conversations
Conversations with Oberon Houston exploring the research, evidence and strategic questions behind PetroEquity Signal articles.
Browse every episodePetroEquity podcast · 23:44
We are still inside the fictional PetroEquity investment bank, Oberon and Jessica develop the theoretical Shell acquisition of BP into an internal pitch book, exploring the valuation, history and confidence problem that could make the idea worth taking seriously.
PetroEquity podcast · 32:34
Kosmos Energy proved it could find major hydrocarbons. The harder problem was building a public company around discoveries that are rare, unpredictable and impossible to schedule.
PetroEquity podcast · 47:38
For decades, upstream was treated as the economic heart of the integrated oil company. But Marathon, Murphy and ConocoPhillips produced a surprising result after separating their downstream businesses. What happened to the cash — and what does it tell us about oil-company strategy today?
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About PetroEquity Signal
PetroEquity Signal covers corporate strategy, portfolio choices, M&A, governance, valuation and shareholder returns across the oil and gas sector. It is written from the perspective of an oil and gas investment banker, combining sector experience with a focus on corporate judgement and market outcomes.
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