By Paul Sankey
Published on July 31, 2020 at 7:20 AM
If you ever wanted a sense of what it would be like to have your house in foreclosure, and have the neighbour tell you in passing they are moving permanently to a $200m yacht, yesterday was that day for oil analysts. Oil specialists’ darling ConocoPhillips surprised the market with its sales… and so did Apple, Amazon, and Facebook. Continue reading
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By Paul Sankey
Published on July 2, 2020 at 7:55 AM
A big block of Apache ($APA) shares traded yesterday – just about 3% of the company of 10.8m shares at $13.50 a share, which was interesting with the breathless anticipation of their latest Suriname well. The stock closed down 3.75% at $13. Anticipation is high for the latest well results. APA acquired rights to Block 53 in ‘13. The company drilled two exploration wells, both dry holes. Popokai-1 was drilled in ’15, but no results […]
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By Paul Sankey
Published on June 30, 2020 at 1:38 PM
One problem for the oil investment case is the tendency of the Major Oils to run themselves based on corporate ego rather than shareholder return. Certainly, the long term history of all the major oils can be directly traced back more than a century. Standard Oil is broken into components such as the Ohio and Indiana Standard Oils that became Sohio and Amoco, both now part of BP. But more directly, Exxon, Mobil, and Chevron […]
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