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Tuesday, July 28, 2020 3:32:05 PM
My point being about asset write downs, large Oil and Gas company’s GOM deep-water assets were becoming less cost-effective at $60/barrel at the end of 2019, so no surprise on the asset write-downs at $40/bbl mid-2020. The same would apply to shale operations.
But guess what, Gulfslope’s breakeven on their shallow-water drill ready prospects are less than $20/barrel, which should put them at a better advantage.
Stronger Oil and Gas companies are acquiring smaller Oil and Gas companies with low debt and market cap, or just some of their assets. For example, take Chevron acquiring Noble Energy recently. Everyone seems to be wanting a deal in this crisis, and maybe Gulfslope’s low break-even drill ready prospects could be the ticket for a potential working interest partner. They might have a better chance of getting potential partners than ever before.
Just my take on it,
Smith
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