Friday, March 06, 2020 3:29:36 PM
I expect the above quote to be very similar to Gulfslope Energy’s Business Model and Company Philosophy. Gulfslope Energy’s 2020 Drilling Campaign places them as one of the top Emerging Growrth Companies with a 2020 drilling plan for the GOM OCS GOM Shallow-water.
An Exploration Oil and Gas Find in the GOM Shallow-water by Gulfslope Energy could have a sizable impact on GSPE’s financials and stock price. A Tau-2 well find may also bring a positive International impact to Delek Group, as well as to their financials.
US Shale is starting to decline over the next few years, and experts have said one of the next big finds is not onshore, but Offshore Gulf of Mexico.
The EIA predicts oil demand to grow until 2025 and then plateau until 2040. Demand for natural gas, meanwhile, continues to grow through 2040.
“Simply put, oil and natural gas aren’t going away. A growing global population, notably in developing markets, and increasing global prosperity are key drivers here. There is another factor to consider here, as well. Oil and natural gas are depleting assets. So once a barrel is pulled from the ground, it is gone for good. And oil wells don’t produce forever,” as is the case with US Shale.
“During Exxon’s forth quarter conference call, CEO Darren Woods discussed his choice to keep investing in production growth despite currently low oil prices by explaining to investors that:
We know demand will continue to grow driven by rising population, economic growth, and higher standards of living. We know that excess capacity will shrink, typically faster than people think, and margins will rise. Then, new capacity will be needed. These are the classic price cycles of capital intensive commodity industries.”
Chevron’s CEO Michael Wirth, “We look at a long-term view, really, on supply and demand. And we don’t overlay these shorter-term phenomena into our thinking about price.”
The source below is a good article to read in my opinion, and I included a few excerpts above.
Source: The Motley Fool, titled ‘Chevron CEO: Ignore Short-Term Factors, Focus on Supply and Demand’, by Reuben Gregg Brewers, article dated February 10, 2020
Smith
These are my personal thoughts. Please do not base your investment decisions on any message board posts.
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