Estimated 260,000,000,000 in profits in 2022 for the oil and gas majors worldwide. They are all cashed up to the eyeballs.Yes, market doom and gloom for is forecast for 2023 but EXRs value is going to be made by proving the resource and selling it to the highest bidder, and those bidders have built large war chests to weather any downturn.The SP may temporarily crash at some point as part of a larger, global panic and reset from the days of cheap money but we all see that the world is heading into an energy crisis long term, fuelled by the earlier failures and lack of planning to transition to green energy.
A worldwide, extended downturn hurts all sectors but at the end of the day the demand for LNG will still be there.If EXR succeed in getting the Mongolian CSG play proven and ready for TO we may still see a QGC style finish.
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