A business entity that engages in the exploration, production, refinement and distribution of oil and gas. Given the high entry costs relating to many oil and gas industry operations, many of the world's largest oil and gas companies, like Chevron Corporation and Exxon Mobile, are integrated. Typically, integrated companies divide their various operations into categories: upstream, which includes all exploration and production endeavors, and downstream, which is confined to refinement and marketing activities.
Investopedia explains 'Integrated Oil & Gas Company'
Because integrated oil and gas companies are involved in so many facets of the fossil fuel industry, often their business bottom lines can be counterintuitive. For example, during times of rising crude prices, an integrated oil and gas company may actually have lower profit margins than a non-integrated rival as a result of having greater downstream than upstream capability, or vice-versa.
Tullow could provide a much faster drilling timeline as they have intimate working knowledge of the area and equipment and manpower right there. Also they just go approval from the Kenyan gov't to do a much more broad and comprehensive airborne survey so maybe that could just be expanded to our block. A quick timeline would lead to quicker sp appreciation to its a compelling argument for Tullow's participation.
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