According to a recent report from Drilling Info, 2Q 2018 activity was low with only $8.7 billion in mergers and acquisitions compared to the quarterly average since 2009 of $17.8 billion. Drilling Info believes this was partially due to investors’ incessant cry for positive cash flow, forcing many companies to become pure-play to achieve this outcome. E&P company’s divestments now
EVs could demand enough copper, other metals to dwarf oil market fallout: BHP According to Bloomberg New Energy Finance, EVs could displace oil demand of 2 million barrels a day as early as 2023. “That would create a glut of oil equivalent to what triggered the 2014 oil crisis.” The first half of 2016 saw 128 percent growth in the
Mining giant BHP Billiton looks to capitalize on long-term oil market recovery —its highest margin business—with “value over volume” energy strategy Even as oil prices fight their way back to a $50 per barrel level and mining companies like Freeport McMoRan (ticker: FMX) look to exit oil and gas, miner BHP Billiton (ticker: BHP) says that it plans on oil
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