Last week, Oxy exited the Bakken and Chevron lays off another 7,000 people. For Oxy, the sale of the Bakken assets represents an excellent refrac opportunity for Lime Rock.The site has some interesting graphs but for the most part, not much there. To me, this looks like an opportunity to prove some good wells are possible and then start marketing the acreage. This would be a 5-year process.
Disclaimer: this is not an investment site. Do not make any investment or financial decisions based on what you read here or what you think you may have read here. If this information is important to you, go to the source. I often make typographical and factual errors. I always intersperse expository with narrative (those are terms my 3rd grade granddaughter taught me).
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Rumors Of Another Mega-Merger
From Australia. BHP and Woodside Petroleum. $24 billion.
This is the first whiff in the press of a possible BHP takeover of Woodside.
And if such an event does come to pass -- the way "talk" is suggesting -- it would be one of the biggest stories in energy this year. That's because Australia has already been setting up the last few months as one of the hottest oil and gas markets on the planet.
Boosted by news in August that former Chesapeake CEO Aubrey McClendon's new energy fund is paying $100 million to get into licenses in the McArthur Basin.
And cemented in late October when private equity firm Scepter Partners launched a mega-bid for major Aussie natural gas producer Santos.I'll get excited when Berkshire starts buying into the oil and gas sector.
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