Objective:

David’s presentation focuses on the changes that have occurred in the oil and gas business over the last two years and the impact that this is having on companies.  The oil and gas sector has undergone a drastic transformation since the oil price dropped mid 2014.  With the price floor no longer supported by OPEC it has provided the first real test of the flexibility of tight oil and has brought into question the profitability of a number of themes.  Companies have wrestled with the need to maintain longer term growth whilst exercising financial prudence and are currently in the midst of an efficiency drive streamlining all aspects of their operations.  Whether your focus was frontier exploration in Africa or mature late life assets in the North Sea 2015 has been a time of change.