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Exxon and Chevron Megadeals Reveal Why Days of Easy Oil Are Over
29 Oct 2023 | Abstracted from Financial Post
"Exxon Mobil Corp. and Chevron Corp. spent recent days telling investors why they want to spend $114 billion combined on two megadeals...In short, the days of easy oil production growth are over...Investors 'don’t believe this business can be sustainable...'
"Out at sea, exploration is expensive and unpredictable. US shale fields are experiencing declining production growth as the best acreage has been already fracked..."
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