oil fields decline on average 4-5 percent after they mature…
Note that XOM expects an average annual decline in its base fields of 3%—see the prologue of #msg-60885623. The difference between 3% compounded annually and 4-5% compounded annually is highly consequential.
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.