PDX on the Permian: not ready for prime time -- from a note I sent a reader earlier this morning.
This was a strange story this past weekend. A reader sent me a link to an article mostly about Sheffield's (PDX -- Pioneer Natural Resources / CEO) concern about the high price of oil. I didn't pay much attention. at the time but now oilprice is re-writing the story and I've taken an interest. I'm not sure why Sheffield is concerned. I guess his concern is that he wants to acquire more acreage and with oil price trending up he may be priced out, allowing majors like CVX, COP, MRO, OXY to take advantage. I don't know. Interestingly, Oasis CEO is now probably upset with his movement in, and then out, of the Permian. Link to Irina Slav here. I have not read the article closely but will come back to it.
TTE: the perfect energy transition play? Link to Alex Kimani. Alex Kimani is among a handful of writers about energy that I find credible. When he posts something, I pay attention. Summary;
- TotalEnergies has been very clear that it is committed to transitioning from being an oil major to being an energy major, making it more prepared than most to deal with an energy transition
- While it is pivoting to LNG, renewables, and electricity, TotalEnergies says it is still committed to paying an impressive dividend through effective oil and gas production
- When
it comes to oil and gas assets, few companies appear to have done as
well as TotalEnergies in buying strategic assets that won’t become
stranded
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