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June 3, 2020

Covid-19 has brought oil and gas reserves for sale to above 12.5bn boe

Oil and gas companies have accumulated assets for sale with recoverable reserves of more than 5 billion barrels of liquids and 7.5 billion barrels of oil equivalent (boe) of natural gas, energy research company Rystad Energy has estimated.

By Yoana Cholteeva

Oil and gas companies have accumulated assets for sale with recoverable reserves of more than 5 billion barrels of liquids and 7.5 billion barrels of oil equivalent (boe) of natural gas, energy research company Rystad Energy has estimated.

According to the firm’s analysis, oil operators are either getting rid of their mature portfolios to focus on key projects, or are looking to avoid additional greenfield costs amid the current low crude price.

Read the full article here

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