08-19-2013, 11:28 PM
Tx, agree, but I also see this as part of the evolution of IOC under new leadership. IOC has always been criticized (and rightfully so), for it's very laborious process of drilling. Other companies have moved more quickly to prove up and that has given shorts leverage when they say that IOC must not have a viable resource ir they would be moving ahead. I think Collin V has done a great job fighting that by constantly speaking to the gearing ratio being so low traditionally and probably being a bit frustrated that the capacity has been there, but it has gone unused.
This is a high risk business and to survive a company must find, drill and monetize to keep going. Hession brings that attitude and I think with it the knowledge that it only increases intensity and quality of negotiations. They will not sit on their laurels anymore and I bet that brings with it closed deals and multiple venture partners.
This is a high risk business and to survive a company must find, drill and monetize to keep going. Hession brings that attitude and I think with it the knowledge that it only increases intensity and quality of negotiations. They will not sit on their laurels anymore and I bet that brings with it closed deals and multiple venture partners.