RE: The new JV in a nutshell1 Dec 2020 20:46
Floater - because if Scally was a duster, we would have sent the rigs on as planned, with the budget to drill PRE and BH.
But the rigs have gone, because, i believe the budget has gone (been re-allocated).
Coach - exactly, i think GH has dug his heals in, but he has to stay on the good side of SB, so he’s said NO on Scally, thats our golden egg, but we’ll give you another one, and everybody wins.
This is of course all conjecture but its the only LOGICAL explanation
GH gives PRE away for $20m because...
A) GH is a moron and terrible businessman? No
B)GH is dishonest? No
C) GH now has no budget to drill it, no time to drill it, and needs to keep NCM happy.