They are not exiting gas the way I read it! Instead I see it as a way of saying (disguised as going green) - lets way up the risk and cost of new capital (which is going to get a lot more expensive in the coming years) coupled with the probability of a difficult capital raising environment also in the next few years to fund an uncertain outcome. Government red tape, costs blow outs, legal costs fighting environment and land owner groups to drill holes will cost a bucket load in capital dollars, operating costs and human resources. So why not hand ball it to someone else and as part of the deal exercise the right for guaranteed off-take for a good number of years to service their upstream needs. I don't think OE want a repeat of the what they encountered in the lead up to APLNG. I'm thinking lower debt, lower costs and a smaller target might be the go over the next few years for most companies, particularly in a capital intensive business.
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They are not exiting gas the way I read it! Instead I see it as...
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Last
$10.83 |
Change
0.050(0.46%) |
Mkt cap ! $18.65B |
Open | High | Low | Value | Volume |
$10.71 | $10.89 | $10.68 | $30.72M | 2.838M |
Buyers (Bids)
No. | Vol. | Price($) |
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3 | 3759 | $10.81 |
Sellers (Offers)
Price($) | Vol. | No. |
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$10.84 | 32114 | 5 |
View Market Depth
No. | Vol. | Price($) |
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6 | 16295 | 10.800 |
2 | 34105 | 10.790 |
2 | 21129 | 10.780 |
2 | 19566 | 10.770 |
2 | 1001 | 10.750 |
Price($) | Vol. | No. |
---|---|---|
10.840 | 29642 | 3 |
10.850 | 8429 | 2 |
10.860 | 15326 | 1 |
10.870 | 17401 | 3 |
10.880 | 18089 | 3 |
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