Exxon reportedly mulls exit from Vaca Muerte (anybody have Bloomberg sub?)

[Redpossum]

There's an article here -

Exxon Mulls an Exit From Its Dead Cow Shale Fields in Argentina

Exxon Mobil Corp., which once planned to bet big on Argentina’s oil and gas riches, has put all of its shale assets in the country under review.

www.bloomberg.com

I got the link from the Oilprice.com newsletter, but I don't have a sub to Bloomberg to read the whole thing.

 

[elhombresinnombre]

Here, try this.... https://archive.ph/Mc5dF

 

[carride]

Some Bloomberg stories are replublished on their Canada TV and media affiliate. Really i do not know the connection to the real Bloomberg. Anyhow…. If you search “Bloomberg BNN” + a Title of a paywall locked Bloomberg story, you might find it republished without paywall. Seems to be different Bloomberg department who shares articles with the BATimes

Bloomberg - Are you a robot?

www.bloomberg.com

 

[Quilombo]

Some Bloomberg stories are replublished on their Canada TV and media affiliate. Really i do not know the connection to the real Bloomberg. Anyhow…. If you search “Bloomberg BNN” + a Title of a paywall locked Bloomberg story, you might find it republished without paywall. Seems to be different Bloomberg department who shares articles with the BATimes

Bloomberg - Are you a robot?

www.bloomberg.com

"Dead Cow" talk about taking things literally lol

and BNN is a the Canadian licensed version of Bloomberg owned by Bell Media. Canada has a bunch of weird nationalist laws meant to "protect" Canadian interests from the US which results in there being like 2 media companies and 2 airlines, but I digress.

And I really hope the article is right and we've finally reached peak oil, we can't keep poisoning the planet and acting surprised when it becomes increasingly difficult to live here. I also love how the Ks have been Nac y Poping off shore drilling in the Argentine Basin, as if we need more oil extracted when we're not even pulling close to the full potential out of Vaca Muerte, which isn't a refuge for wildlife like Patagonia.

 

[ArgentinaVet]

What the article doesn't say is that the CapEx required for XOM to fully develop their shale holdings in the Vaca Muerta simply are not worth the country/political risk when same/less CapEx in the Permian/Eagle Ford/Bakkan shale plays in the USA are more profitable with negligible political risk. The days when oil/gas/coal companies dumped huge money into CapEx in politically risky areas are over as today its all about rewarding shareholders via buybacks and dividends.

 

[sts7049]

not a surprise, from what I've heard exxon is looking to focus a lot on its big moneymakers offshore. those are where the returns are compared to shale. Argentina presents many other risks too as mentioned.

we'll see if Total and Shell stay put...

 

[Caribbean Cool]

https://archive.ph/Mc5dF

 

[Ronnie Hotdogs]

"Dead Cow" talk about taking things literally lol

and BNN is a the Canadian licensed version of Bloomberg owned by Bell Media. Canada has a bunch of weird nationalist laws meant to "protect" Canadian interests from the US which results in there being like 2 media companies and 2 airlines, but I digress.

And I really hope the article is right and we've finally reached peak oil, we can't keep poisoning the planet and acting surprised when it becomes increasingly difficult to live here. I also love how the Ks have been Nac y Poping off shore drilling in the Argentine Basin, as if we need more oil extracted when we're not even pulling close to the full potential out of Vaca Muerte, which isn't a refuge for wildlife like Patagonia.

Whether you like it or not the reality of developing economies is that they will depend on oil and gas for decades to come.
In Argentina's case it makes sense to develop their resources rather than importing them from abroad.

The green revolution has been much hyped but ultimately is resulting in much higher prices for consumers, it's a luxury that Argentina can ill afford.