That is good news Red!
Not too sure about the USD100 in the foreseeable tho!!... IMO a whole lot of shale comes online well before that, offsetting the OPEC cuts and effectively causing it's own POO cap.
I'll be satisfied with a price settled in the low $70's, which should see Aramco happy enough to pull the trigger.
Certainly majors look to be positioning themselves in anticipation of a longer term re-rate in oil don't they. Wouldn't want to be too far from infrastructure in tundra territory when your up against the Permian.
Now, where's that map.
Exxon Mobil pays $5.6 billion for acreage holding 3.2 barrels, page-9
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