Some additional impressions I have:
- IOC may also get some ownership in PNG LNG.
- I think JFT is right in that XOM will probably be spending another $1 billion or so on additional drilling in PRL 15, starting probably with Elk 3 and Antelope 4, and there may also be some drilling in other prospects in the PRL such as Mule Deer, a formation adjacent to E/A.
- Probably 22.5% of the gas sold to XOM will be from the government, in addition to part from Pacific LNG, leaving IOC a larger portion for future deals beyond the proceeds from this deal, and much more flexibility in how it proceeds from here.
Comments Itinvest?
- IOC may also get some ownership in PNG LNG.
- I think JFT is right in that XOM will probably be spending another $1 billion or so on additional drilling in PRL 15, starting probably with Elk 3 and Antelope 4, and there may also be some drilling in other prospects in the PRL such as Mule Deer, a formation adjacent to E/A.
- Probably 22.5% of the gas sold to XOM will be from the government, in addition to part from Pacific LNG, leaving IOC a larger portion for future deals beyond the proceeds from this deal, and much more flexibility in how it proceeds from here.
Comments Itinvest?