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Global Warming Survey Results 2013-2014-2015

Over the last 3 years we’ve had over a thousand responses to our surveys on Global Warming, with 376 for the latest, 2015 survey. My thanks to all who responded, and to our friends at The Oil & Gas Yearbook for distributing it to their readers.

The respondent profile has remained largely consistent, though this year we had a few more professional advisers responding. Overall, it seems that people are increasingly aware of what a problem global warming is, but pessimistic about out ability, or willingness, to act.

In response to a new question in 2015, nearly 60% believe that addressing global warming should be a high priority for oil and gas companies – the same number that see it as a high priority for governments.

I would be interested in your views on what this means for E&P management: do they already see it as a high priority, or do they assume it’s a problem to be solved by governments or elsewhere in the industry?

Please share your views on this survey, or on global warming more generally, in the comments area.

I look forward to hearing from you.

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Why have Investments in E&P Performed so Badly?

Introduction:  There’s a good chance that many readers’ investments in E&P have disappointed in recent years.  Even the super-sluggish Supermajors and mid-sized companies such as BG and Oxy have delivered better shareholder returns (often through nothing more than dividend yield) than small cap E&P.  [Read more…]

The Strategic Importance of Farm Outs – Part 3

The previous articles in this series* highlighted the strategic reasons for farm out transactions and some common terms found in farm out agreements.  This article looks in more detail at some of the fundamental legal and contractual issues that should be considered when drafting and negotiating farm out agreements. [* by Richard Metcalf and Vivek Katyal of Norton Rose*, the international law firm]

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The Strategic Importance of Farm Outs – Part 2

Farm out agreements are amongst the most common and strategically important agreements in oil and gas.  For the explorer they can represent an opportunity to create value from a promising prospect, for others they may play a critical role in portfolio optimisation.

There are many different types of farm out agreement but perhaps the most common covers the exchange of an interest in a licence or contract for the assumption of an obligation.  This almost always happens at the exploration stage and the obligation assumed is usually a commitment to the government to shoot seismic or to drill a well.

[Read more…]

The Strategic Importance of Farm Outs – Part 1

For small and big oil companies alike, farm out deals play a significant role in the oil and gas business.  For some small companies farm outs present an opportunity to add value to an exciting exploration prospect.  For larger companies, these deals play a critical role in portfolio management.

Whatever your perspective, farm out agreements are amongst the most common in oil and gas, coming second only to granting instruments.  All investors and companies will want to make sure they understand how these agreements work.

[Read more…]

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