simple farmer

During Exxon’s Q2 conference call management commented;

“This development is expected to cost $4.4 billion, resulting in a unit development cost of less than $10 per barrel and a projected double-digit return, even in a flat $40 per barrel price environment. The combination of high resource quality and proven execution capabilities applied in today’s lower-cost environment positions Liza for success.”

What really stands out is the double-digit return guidance in a flat $40 Brent world. If Guyana oil makes economical sense at $40-45 Brent then this is truly a top tier discovery, especially when considering the vast growth runway Guyana offers the venture.

source: Seeking alpha https://seekingalpha.com/article/4093151-exxon-asks-guyana-10-billion-barrel-play