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re:855

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    America’s second biggest oil group Chevron, reports its 4th quarter figures tonight. It postponed its 2015 budgets last month to take account of the falling prices and other factors. Chevron is spending billions in Australia on two NG projects offshore WA, and one shale gas prospects the Cooper Basin (which looks like to be dropped tonight) with Beach, which has slashed its spending in this area.
    http://www.sharecafe.com.au/sharecafe.asp?a=AV&ai=33314

    Chevron’s costliest investments, like a $54-billion project in Australia to liquefy and export natural gas, could yet pay off if prices rebound soon. Such mega-projects have the advantage of delivering steady streams of petroleum for years. They require much less capital once completed. And as the industry collectively pulls back from spending amid lower prices, the costs of hiring offshore welders, leasing rigs and fracking shale wells are beginning to fall.

    But while a shale well may not be as profitable as a deep-water well that yields many more barrels, it has the advantage of producing oil in months rather than years. When Chevron committed $7.5 billion in 2010 to develop half-a-billion barrels in the Gulf of Mexico, oil sold for about $80 a barrel in the U.S. After hovering around $100 a barrel for the last three years, the price sunk to $67 by the time Chevron hooked up its wells to a floating storage unit in December, and has fallen more than $20 since.
    http://www.wsj.com/articles/chevrons-expensive-oil-flows-as-prices-nose-dive-1422567220
    I like the words from our technical  and logical  insider Mr Gassed said: 'don't  worry  ' and 'confident with'
 
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