1. Most Discussed
  2. Gainers & Losers
ICN 2.0¢


  1. locshare11

    800 Posts.
    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.

    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.
    I like the words from our technical and logical insider Mr Gassed said: 'don't worry ' and 'confident with'

Before making any financial decisions based on what you read, always consult an advisor or expert.

The HotCopper website is operated by Report Card Pty Ltd. Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, you should before acting on the information or advice, consider the appropriateness of the information or advice in relation to your objectives, financial situation or needs. Please be aware that any information posted on this site should not be considered to be financial product advice.

From time to time comments aimed at manipulating other investors may appear on these forums. Posters may post overly optimistic or pessimistic comments on particular stocks, in an attempt to influence other investors. It is not possible for management to moderate all posts so some misleading and inaccurate posts may still appear on these forums. If you do have serious concerns with a post or posts you should report a Terms of Use Violation (TOU) on the link above. Unless specifically stated persons posting on this site are NOT investment advisors and do NOT hold the necessary licence, or have any formal training, to give investment advice.


Thank you for visiting HotCopper

We have detected that you are running ad blocking software.

HotCopper relies on revenue generated from advertisers. Kindly disable your ad blocking software to return to the HotCopper website.

I understand, I have disabled my ad blocker. Let me in!

Need help? Click here for support.