Supermajor capital has washed ashore to hunt short cycle returns in the Lower 48, having abandoned longer-cycle deepwater and international in the era of austerity following the 2014 oil price crash.
These large companies have historically been thought of as less nimble than their smaller peers – the Independents who have been synonymous with driving better economics throughout the shale revolution.
Last week, a supermajor SVP asked himself a hypothetical question that caught our attention and could signal a big change coming.
There’s a lot more to this story…
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