Jadestone....encouraging news17 Nov 2020 18:59
This is where HUR is will be in the north sea market in years from now.
FT News: Jadestone Energy might pump just a fraction of the oil and gas of the energy majors, but its chief executive believes the Asia-Pacific focused producer will outlast bigger rivals when it comes to making money from hydrocarbons.
“It won’t be a Shell or BP that will be the last man standing in the oil and gas space,” Paul Blakeley, chief executive of Jadestone, said. “It will be the small independents.”
It might seem like a bold claim for a company that employs about 220 staff and produces only 10,000 barrels of oil equivalent a day, when giants such as Shell produce almost 300 times more.
But it has become Mr Blakeley’s pitch to investors when they question whether there is still a place for small independent energy producers, at a time when concerns about climate change and peak oil demand have seen the European majors begin a long pivot towards renewables.