Articles
Angola’s upstream is moving again. Majors are returning, mature assets are changing hands, smaller companies are gaining exposure, and new exploration is opening up across one of Africa’s most important oil provinces.
Articles
Uganda’s upstream proposition is changing. With a proven basin, rigs and services in-country, EACOP nearing completion and new acreage opportunities emerging, Lake Albert may deserve far more attention from E&P companies than it currently gets.
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Suncor’s turnaround shows how shareholder value can be rebuilt by focusing on the assets already in place. In long-life oil sands, reliability, maintenance and operating discipline can matter more than the next deal or growth project.
Articles
Jadestone built a broader asset portfolio, but shareholders still suffered heavily. This article looks at how growth, operational setbacks and financing strain combined and why the board’s response matters as the company enters its next phase.
Articles
BW Energy has financed Maromba with unusual skill, drawing on its shipping heritage and Asian relationships. But the $1.5bn project is huge relative to BWE. We ask whether shareholders are carrying too much financial, execution and subsurface risk.
Articles
Ian Tyler is now BP’s permanent chair and Amanda Blanc is leaving. But Tyler’s promise to “lead the board’s evolution” points to a deeper issue: BP’s problem is bigger than strategy. Elliott has pushed hard, yet BP has retained control of the process.
Articles
Energean turned discovered East Med gas into a financeable public-market success. The harder question now is whether the same commercial skill can support a broader E&P company when debt, dividends, reservoir risk and geopolitics all matter.
Articles
The US Treasury’s rather fruitless attempt last week to take up some of the slack in demand for long-dated government bonds followed a sharp move in a market that normally sits quietly beneath almost every other cost of capital. Gross US federal debt recently passed $40 trillion. The
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Talos Energy’s move from founder Tim Duncan to former Shell executive Paul Goodfellow raises a wider question: what really prepares someone to lead a small or mid-cap E&P, where individual judgement on assets, capital and M&A can shape the whole company?
Articles
Oil and gas investors have spent a decade demanding more cash back. Tourmaline and Karoon show why that discipline was necessary — but also why exceptional management may sometimes create more value by keeping some financial capacity intact and waiting for the right opportunity.
Articles
Kosmos 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.
Articles
Shell wants investors to place greater value on its trading and supply business, but outsiders still cannot see clearly how much it earns, how risks are controlled or how durable its advantage really is.