Offshore Deepwater Drilling To Dominate Oil in 2020s [Yahoo! Finance]
TotalEnergies SE (TTE)
Company Research
Source: Yahoo! Finance
Soon after, Portugal's Galp launched its second drilling campaign offshore Namibia after a huge discovery, and Suriname is about to become the second Guyana. Offshore is back—and it's back to stay. Earlier this month, Wood Mackenzie reported that offshore drilling was going to increase significantly in the coming years, with production from the deepwater sector alone facing a surge of 60% by 2030. Fellow forecaster Rystad Energy in 2023 saw investments in offshore oil and gas drilling at $100 billion annually for 2023 and 2024. This year, it is expecting 2024 investments to reach $104 billion. That's just the start of a boom. Deepwater drilling has been a strategic focus for big oil companies for several years now, as fields in shallower waters mature and production declines, while demand for oil appears to keep going higher. Shale has been one diversification venue, but there isn't space for everyone in the Permian—and there has been so much oil discovered in some parts of the wo
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TTE
Earnings
- 10/31/24 - Miss
TTE
Sec Filings
- 11/7/24 - Form SC
- 11/1/24 - Form 6-K
- 10/31/24 - Form 6-K
- TTE's page on the SEC website