Posted on 06/30/2021 7:46:21 PM PDT by BenLurkin
Initial bid proposals were due by June 10, with a planned July 1 sale date for the larger package. The assets are operated by Chevron and Occidental Petroleum Corp (OXY.N) and span 57,000 net acres (231square kilometers) with production of about 10,100 barrels of oil equivalent per day.
(Excerpt) Read more at reuters.com ...
Sell it to the CCP.
Or 89.06 sections= 89.06 square miles.
Why does an oil company sell off a property like that?
At current prices 10,000 barrels per day is $273 million per year in revenue. A price of $1 billion seems cheap for these assets.
“Why does an oil company sell off a property like that?”
Peace, brother.
This is sheer stupidity caused by liberals on its board.
Uh, no one calls it that. The Mid-Continent is considered Oklahoma and Kansas.
To go play offshore Uganda.
Who bought it? China?
“Why does an oil company sell off a property like that?”
Oil prices are a bit higher and they read the tea leaves on the future of oil. They are calculating that conservatives never regain any real power and the environmentalists have won.
New Mexico’s Oil Boom Is Under Threat
8/27/2019, 6:12:23 PM · by bananaman22 · 21 replies
Oilprice.com ^ | 27-08-2019 | Irina
New Mexico is home to part of the Permian play, the star of the shale industry and the place where oil production is growing at the fastest pace in the country. It is also the state whose new governor has one of the most ambitious emissions plans in the U.S. Governor Michelle Lujan Grisham took office with two climate-friendly pledges: to make New Mexico’s electricity emission-free by 2045, and to curb methane emissions from the oil and gas industry more substantially than they are being limited now. However, the oil industry is one of the biggest revenue contributors to the...
its going to one of the globalist billionaires who will place it off limits and cut off access to oil for normal people
gas will rise quite a bit
poverty will increase
peoples ability to travel will become much more expensive as well as shipping packages
Communists being Communists
Shell did the same two weeks ago.
“This is sheer stupidity caused by liberals on its board.”
Exactly. A few months ago the greenies launched an effort to take over. They threw a ton of money at it, got several of their guys on the board and here we are. Sell your Exxon stock. They will run it into the ground, thats their job.
“At current prices 10,000 barrels per day.”
If that vast amount of land only produced 10,000 barrels per day it is worthless. It is not worthless. Reuters normally just lies but this time they just have their head up their ignorant asses. When I worked the TOR platform in the North Sea we produced 30,000 barrels of oil a day from that one multi well platform.
Reuters is stupid.
“This is sheer stupidity caused by liberals on its board.”
Exactly. A few months ago the greenies launched an effort to take over. They threw a ton of money at it, got several of their guys on the board and here we are. Sell your Exxon stock. They will run it into the ground, thats their job.
Apologies, I meant to say sell Chevron stock. ugh.
They’re selling off their New Mexico holdings and keeping Texas.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.