I do like the Nigerian purchase because it was at good value to them, but they need to demonstrate that they can keep on doing that internationally. They need to prove themselves a bit more and it's getting harder and harder to find oil domestically. |
Most of the production growth now is from gas, and gas is at a much lower price than oil. |
They're going to struggle to keep the growth going. The fields they're developing are getting smaller and smaller and they're finding it harder to find giant fields. |