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Comments (13)

What % of revenue does BP get from offshore drilling compared to other huge o/g companies? Same question for fracking. How are the percentage and £ amount of concessions it gets from deep water driller implementors etc comparable to the concessions from the fracker/suppliers? How comparable is the strategy to "leave oil in the ground" and then quickly resume supply when the price goes up say in the Bakken to the offshore strategy of BP? Does the small dividend advantage really offset the risk of the offshore projects that the article seems to highlight...versus some other large multinationals?
If the price of oil stays as low as it is today for a few more years, many of the countries which now rely on oil revenue to fund their governments will collapse. Guess where oil output will go after that happens. And with less oil being produced, the price of oil will have to rise a lot.
Short seller Jim Chanos was just on CNBC last week, warning that Chevron and Shell were over invested in expensive LNG projects. He expects the price of LNG to fall, so he said stay away from them. We'll see. All I know is that there is no substitute for crude oil, and won't be for a long time. Dividends might be cut a little, but they won't disappear for long. We need oil, like we need to keep the electricity on. Civilization is hooked on oil and electricity.
Great article, did provide me with interesting insight into the company. However, I still wont long this stock!
Oil will eventually bounce back. LONG BP while collecting the 6% dividend (assuming dividend is not cut).
Odd that this article makes no mention of BP's $15 billion investment in Russia's Rosneft.
It's in park until sanctions are removed. It's a fraction of total spill cost. But it does have potential for new work in the future.
OP, please check the 10 cents and 18 months. Thank you
25 Aug. 2015
This is a pretty poorly researched article. The Macondo explosion and fire was the result of the well getting underbalanced and flowing a very volatile (high gas-oil-ratio or GOR) oil into the riser and blowing out the well (i.e. evacuating the wellbore and riser of kill-weight drilling mud then freely flowing without controls). Because there was so much gas evolved when the well blew out, the turbines powering the rig over sped on the rich gas air feed and eventually ignited the gas cloud. The well blew out for closer to 90 days, and was finally killed when the "capping stack" was deployed and kill-weight mud could be circulated into the well. The $18B settlement is to be paid out over 18 years, not months. Full disclosure, I work for BP and I am long BP stock.
Fact check: the BP settlement is to be paid out over 18 years, not 18 months as written here. This difference is key from a cash flow standpoint, as it reduces the immediate burden of the settlement on BP's short- and mid-term finances.
Correct - and a big advantage of this extended payment period is that the Fed are in the process of deliberately devaluing the US Dollar by 33% over a 20 year period from 2012. So the $18 billion fine could end up costing BP only a percentage of that as the dollar steadily devalues against the overseas earning. Not so scary now is it? Buy the damned shares or regret it at your leisure
Where are you getting the 10c dividend figure? To keep the math simple, when the stock was 40, it was roughly a 6% dividend payout - which translates to $2.40 or 60c a quarter. I've heard nothing about them trimming the payout at all, let alone by 1/6th.
ADR = 6 shares. 10c x 6 = 60c per share.
tnx Cory - all makes sense in the world :)-
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