RE: 150p?8 Jan 2026 09:28
My understanding is that Shell was prepared to pay 3.2 cash, and maybe more, but LLOG would have disappeared along with most of its jobs. This was the right deal for them to take out of loyalty to the people who have built the company, and by retaining 11%, they also believe it is the right deal, commercially, in the long term.
The worry is oversupply, but with the world needing over 100 million barrels a day, any disruption can change things very quickly.Debt is also always a concern if oil prices keep falling, but hedges are in place. If they had not made these acquisitions, we would be stuck in the North Sea going bust. I will continue to buy.