Seeking Alpha

Owners of prospective U.K. shale acreage reportedly spurned interest from four of the world's...

Owners of prospective U.K. shale acreage reportedly spurned interest from four of the world's oil majors - Exxon (XOM), Shell (RDS.A), Total (TOT) and Statoil (STO) - in favor of a deal with Centrica (CPYYF.PK) due to its perceived ability to more easily maneuver through political risks. The deal highlights the growing interest in U.K. shale gas reserves even though it's not known if gas can be commercially produced from the license area.
From other sites
Comments (3)
  • dunnhaupt
    , contributor
    Comments (814) | Send Message
     
    Among US majors, only XOM still seems interested in global expansion. Many of the others (like COP) gradually get rid of their far-flung operations in order to invest closer to home.
    14 Jun 2013, 08:58 AM Reply Like
  • Worn out 123
    , contributor
    Comments (437) | Send Message
     
    dunnhaupt, Didn't RDS push for expansion in Artic waters? Everyone is pulling out of parts of Africa I know, but isn't that due to unstable political environments produceing pirates? I keep hearing RDS is buying here and there, now England. How about RDS? Are they not expanding. I don't have any infor. at my finger tips, just recent memories of readings of purchase agreements in addition to the Artic push. My apoligizes for making unsubsubstantiated remarks.
    Am I alone in thinking RDS is expanding upstream; anybody?
    14 Jun 2013, 11:21 AM Reply Like
  • GWBramhall
    , contributor
    Comments (28) | Send Message
     
    I am hearing much too often that these shale oil deposits are much more common than might have been thought when we looked at the US potential reserves. It would really be a game changer if these oil companies ended up over paying for these reserves when they're a dime a dozen all around the globe. Good news for the consumer, if they can be extracted economically, but bad news for companies like CHK who went on buying sprees to lock up these reserves without the notion of how common these deposits turned out to be.
    14 Jun 2013, 12:12 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs