06 Dec Oil & Gas Investor: The Real Cost of Owning Your Own Infrastructure
Never in the history of the oil and gas industry have upstream companies known so much about where to drill and what to expect. Unfortunately, the capital markets are not cooperating. Both equity and debt finance are essentially closed for business, and living within cash flow is now the strictly enforced discipline. Volatility, and mostly low com- modity prices, have changed the dynamic between exploration & production companies (E&Ps) and their financial backers.