E&P Fold'em

摘要

Out of aces? Here's some advice."If you're gonna play the game,...you gotta learn to play it right," according to the sage gambler in the Don Schlitz song made famous by Kenny Rogers in 1978 that was during another oil-price boom,and the words hold true today.The aces in the new E&P game are North American prospects and proved undeveloped reserves."Those who haven't set up a large drilling inventory are going to have to pony up [and buy]...If they don't,they're going to be out of business in a few years," Shannon Nome,a managing director and senior E&P analyst for JPMorgan,told producers at an IPAA/Tipro program in Houston recently.