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LONDON, Jan. 15, 2021 /PRNewswire/ — In Namibia, an African venue that is being set up as the scene of the world’s next—and possibly last—major onshore oil discovery, the oil and gas rights to an entire 8.5-million-acre sedimentary basin are owned by a single, small company. Mentioned in today’s commentary includes: Occidental Petroleum Corporation (NYSE: OXY ), Kinder Morgan, Inc. (NYSE: KMI ), Equinor ASA (NYSE: EQNR ), Apache Corporation (NASDAQ: APA ), Crescent Point Energy Corp. (NYSE: CPG ). Now, Wood Mackenzie, the most trusted name in oil and gas resource assessments, has issued a report stating that this same basin is analogous to three world-class basins, including the $540-billion Midland Basin in Texas . One of the most respected petroleum geochemists in the world, Dan Jarvie, came out of retirement for this play and believes this could be one of the largest oil basins worldwide, and his conservative estimate is that it could hold over 100 billion barrels of oil . Just 40 days from now, the first well should be complete …And just a few weeks after that, the analytical results should start coming in. A discovery barely moves the needle on an integrated supermajor that’s […]
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