E&P

Oil & Gas

Big question marks over ExxonMobil’s reserves

As expected, COVID wrought havoc with earnings, leaving ExxonMobil with an enterprise-wide return on capital employed of minus 9.5%. But the real story was not in the income statement; it was the estimate of oil reserves.

Oil & Gas

Oil Search eyes selldown of promising $3bn Alaska oil project

Oil Search will start a 15% selldown process for its proposed 80,000 barrels of oil per day Pikka low emissions oil project in Alaska by April. Phase 1 of Pikka is expected to cost about $3 billion and produce oil at a break-even cost of supply less than $40 per barrel Brent, inclusive of a 10% return, reckons the Australian-based company.

Energy Voice

Energy Voice’s essential Guyana Playbook is now available

Guyana is the world’s most exciting frontier oil and gas exploration area. There’s a lot of oil, it’s good quality and it’s relatively cheap to produce. It has attracted a host of major players, including Hess, CNOOC, Total, Repsol, Qatar Petroleum, Tullow and, above all, ExxonMobil.