By clicking “Accept All Cookies” you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts. View our Privacy Policy for more information.
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Suspendisse varius enim in eros elementum tristique. Duis cursus, mi quis viverra ornare, eros dolor interdum nulla, ut commodo diam libero vitae erat. Aenean faucibus nibh et justo cursus id rutrum lorem imperdiet. Nunc ut sem vitae risus tristique posuere.
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Suspendisse varius enim in eros elementum tristique. Duis cursus, mi quis viverra ornare, eros dolor interdum nulla, ut commodo diam libero vitae erat. Aenean faucibus nibh et justo cursus id rutrum lorem imperdiet. Nunc ut sem vitae risus tristique posuere.
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Suspendisse varius enim in eros elementum tristique. Duis cursus, mi quis viverra ornare, eros dolor interdum nulla, ut commodo diam libero vitae erat. Aenean faucibus nibh et justo cursus id rutrum lorem imperdiet. Nunc ut sem vitae risus tristique posuere.
Dan Pickering discusses shareholder reactions to Exxon and Chevron's megadeals on Bloomberg, explaining how these deals highlight that the era of "easy oil" is over.
Dan Pickering, Chief Investment Officer of Pickering Energy Partners, comments on shareholder concerns as Bloomberg reports that "Chevron plunged nearly 7% and Exxon closed 1.9% lower, even as oil prices gained on heightened tensions in the Middle East."
“Welcome to the oil patch,” said Pickering, the founder of Houston-based Pickering Energy Partners. Investors “don’t believe this business can be sustainable, they don’t believe the discipline of these companies. They’d rather stare at Amazon today, or maybe any day.” (Bloomberg)
Dan also explains how the technical problems Chevron and its smaller rivals are facing in the Permian are an example of the maturing of the basin.
Brent crude settles near $109 as conflicting reports on US-Iran talks shake oil markets amid tanker attacks and ongoing tensions in the Strait of Hormuz.
.webp)
