Africa's Frontier Explorers Starting to Hurt

摘要

Independent explorers focused on Africa's frontiers are under growing pressure as their funds run low. Since oil prices crashed in 2014, Africa-oriented E&Ps have renegotiated upstream terms, delayed work programs and deferred spending to conserve their cash. But more companies are now relinquishing licenses, turning to private equity for fresh funds or starting to farm in new investors on generous terms as a last resort to avoid having to abandon acreage.