Random Note On The Equinor Beaux Wells -- November 12, 2019

Assuming the paperwork is up-to-date, it is interesting to see that many of the Equinor Beaux wells are still flowing without a pump (as designated by an "F"). Many of them were drilled/completed back in 2013 and they are still not on a pump -- again, assuming the paperwork is current.

Link here.

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Weather

It's calm here in north Texas (DFW area) so the wind chill can't be all that bad. Our oldest granddaughter says it is currently 22 degrees. I haven't checked but based on comments by folks at Starbucks this morning, Texans prefer "global warming" to "ice age."

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Current Events

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Lingo

Speaking of lingo, in the oil sector now, it's all about "advantaged oil," as BP calls it.

This comes from an oilprice article in which it appears "every" major oil company is "fleeing" -- not just leaving, but actually "fleeing" -- the UK:

A trend has emerged on the UK Continental Shelf in recent months—smaller companies acquire assets of international oil majors, especially U.S. majors.

Major U.S. oil and gas companies have divested their UK portfolios in the past year as they focus on the shorter-cycle faster-payback U.S. shale.

Marathon Oil said in February that it would be exiting the UK North Sea as it continues to focus on high-return U.S. shale oil operations.

In April, ConocoPhillips announced the sale of its UK oil and gas business to Chrysaor Holdings for US$2.675 billion.

A similar trend is shaping up in waters neighboring the UK, offshore Norway. Chevron became last year the first supermajor to leave the Norwegian Continental Shelf.

In September this year, the other U.S. oil supermajor, ExxonMobil, signed a deal to sell its non-operated upstream assets in Norway to Vår Energi for US$4.5 billion, as part of a plan to divest US$15 billion worth of non-strategic assets by 2021.