thoughts?
7 replies (most recent on top)
Would you pay $35k for a 1998 Geo Tracker?
It's a done deal. Fingers Crossed.
Here’s why I do not see APA being attractive to a major, or any company of the materiality to acquire APA:
- Suriname will be non-op
- North Sea has very mature to maturing assets in a very mature basin
- Egypt is a nice asset for a company our size, but field size is relatively small and base decline is high, new discovery sizes are even smaller, a maturing onshore basin, just not material enough in terms of running room for a lager company
- Permian has a very limited inventory of tier one locations, a lot of low-tier acreage that has been rendered scrub land, and a bunch of old legacy fields.
Plus, you inherit not insignificant debt along with that collection of not terribly appealing assets.
Suriname is not ours. Suriname is Apache and Total. And just exploration. Our ability to Produce- safely offshore- is a big leap from exploration.
No shot. Noble is not rated as junk and has, on average, Chevron-caliber leadership.
John would rather see the company flop than hand over the reins.
What did Noble have that Chevron wanted? Why not us?
Could be an increased chance of it with the Suriname success. Would have to be hostile, though. Something the board can't ignore without exposing themselves to liability for dereliction of fiduciary duty, which means a sweetheart of a deal. And it's a far better alternative than to wherever we are headed.