Shell bid chatter

Bonus Group: More news of BG diaspora. At the Annual General Meeting of Hurricane Energy plc held on 3rd of June, Ms Beverley Smith was elected as a Director of the Company with 99.85% of the votes in favour, 0.15% votes against. Having previous experience as a VP and overseeing a hasty retreat from Algeria at the now defunct BG Group, will doubtless be valuable when exploring rock bottom and/or fractured basement on the Atlantic Margin!

Bogus Group: Would this be the same managers and geologists that made the competent business development and exploration decision to develop the Knarr Field? A venture that failed to meet its potential, both in terms of daily production and field life. In fact, I recall the UK based BG Group General Manager for Europe was a geologist.

Bonus Group: Useless degree????. 'Also it is not possible to be a competent geologist in the oil and gas business without having a very good background education in both sedimentation and stratigraphy. Both topics go hand in hand. Furthermore, managers at both the middle level and senior level need to be well versed in this subject area in order to make competent business development and exploration decisions.' These would be the same 'job for life', middle to senior level managers and competent geologists who at BG Group, for example, assured work at a cost of £200MM which later cost the company £2Bn because it was wrong (according to the Chief Operating Officer at the time), and also spent more than five years working in an asset following corrupt workflows? From your post on this Blog, I see that your time at a 'reputable university' was well spent in learning how to be exuberant with punctuation. That is all I have to say on the topic. Cheers!

Useless degree????: I was reading your blog today and saw a reference to 'sedimentology' being a 'useless degree'. I do not believe any reputable university offers such a degree. Sedimentology is a sub-discipline within the field of geology. Reputable universities do offer degrees in geology. It is possible to specialize in sedimentology I suppose, but you need to be enrolled in a geology program to do so. I know, I am a geologist, among other things.

Also it is not possible to be a competent geologist in the oil and gas business without having a very good background education in both sedimentation and stratigraphy. Both topics go hand in hand.

Furthermore, managers at both the middle level and senior level need to be well versed in this subject area in order to make competent business development and exploration decisions.

That is all I have to say on the topic. Cheers.

Bonus Group: USA USA USA Hardly surprising is it. The company is overrun by sycophantic, grossly over paid, sniggering middle managers with numerous degrees in sedimentology, or some subject as equally useless, with little to no technical ability or technical background, who are dependent upon technical staff who likewise have little, to no, practical experience and who have only ever seen a rig laid up in the Firth of Forth in photographs, or when they went for a jolly with their wives for an outing one day. They spend their time documenting 'Lessons Learned' on fancy spreadsheets which are then filed in some obtuse filing system and they never learn the damn lessons!

USA USA USA: Missed opportunities is not as bad as the botched opportunities. RDS has always claimed that there is limited capital and resources to exploit every opportunity. We all agree. But the fact that so many recent projects have failed to deliver production promises, that is more clearly a lack of management and leadership. Prelude? Penn Chem? Olympus? and the many others that have not delivered on schedule, cost or production. Then there are the projects that move forward with little to no assurance of these vital front end loading to verify that the promise is realistic. It is just more of the same - Bloat / Cut / Reorg and repeat...

Bonus Group: Exploration. One more for the pot! https://www.theguardian.com/business/2004/jan/20/india.oilandpetrol

Exploration: Here's a list of missed company-maker plays by Shell since 2000. The record of exploration performance is woeful and many of the responsible are still in leadership roles. Give up and turn to wind and solar indeed... Figures are total play discovered and recoverable, at 100% basis; 2001 - Mauritania-Senegal - 10 Billion BOE recoverable 2003 - US Gulf of Mexico Paleogene - 3 Billion BOE recoverable 2006 - Santos Pre-Salt - 45 Billion BOE recoverable 2010 - Campos Pre-Salt - 2 Billion BOE recoverable 2010 - Mozambique Rovuma - 23 Billion BOE recoverable 2011 - Angola Pre-Salt - 4 Billion BOE recoverable 2015 - Egypt Zohr - 3 Billion BOE recoverable 2016 - Guyana - 10 Billion BOE recoverable TOTAL MISSED BY SHELL SINCE 2000 = 100 Billion BOE recoverable!

Bogus Group: Or perhaps arrests and incarceration's to follow?

Bonus Group: Per my previous reference to 'moose pasture', see: https://www.shell.com/media/news-and-media-releases/2020/shell-sells-us-appalachia-assets-to-national-fuel.html Perhaps, more sales to follow?

Bogus Group: The detail of the previous post reveals https://www.michaelwest.com.au/the-second-british-invasion-how-royal-cronies-and-the-gas-debacle-took-australia-for-billions/

Bogus Group: More examples of toxic leadership. Another continent same consequence. https://www.michaelwest.com.au/covert-19-government-stacks-covid-commission-with-oil-and-gas-mates-cosy-deals-follow/

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