'Gator' pid='63207' datel Wrote:

Shell pulls the plug on Arctic exploration for now Oil company Royal Dutch Shell is pulling out of exploration in Arctic waters off Alaska for the foreseeable future and could take a hit of up to $4.1 billion after failing to find enough oil.

I'm sure if they found oil, they would still be drilling.

  Gator and 'Oil Lady' - Thanks  for your posts concerning Shell . At the bottom of page 5 of the MS report posted this am, mention was made that a third SM could be looking at PNG.  Hmmm.....more wondering for now !

......Beyond 2019, future production growth will come from Uganda, Brazil and Papua New Guinea  when supply chain costs are expected to be lower.

“Fortunately, we currently have no project coming before the executive committee to be sanctioned,” said Total’s chief financial officer Patrick de la Chevardiere.

“I am very happy (because) costs will be lower next year and we see cost deflation coming,” he added.

Pouyanne said ongoing portfolio management will also result in reduced spending over the next two years, pointing out Total is sticking to its previous guidance of selling some $10 billion of assets between 2015 and 2017.......

'jft310' pid='63091' datel Wrote:Puts is correct but that all changes next year . A payment next year of @ $2 Billion changes everything . UBS's work shows a stock price in the $90 with that size payment .

Jft - Good am to you. [ Please bear with me while I do a little more "wondering" ] . If UBS  work shows $90 (even if the payment is a little less than 2 billion,) how would this thought sound to you : Since Shell just suffered a 7 billion dollar loss on their Artic venture ,they could buy IOC for 5 billion and change,and in 10 years or so they could re-coup their loss and be on their way to " better days" since the next cycle in oil and gas should be on the up-swing. Any credence to my "wondering" ?