BOB,
Easy to say, EXXI will add staff. Might be easy in Cincy, but not so in Houston. Without listening, did any of the young analysts question EXXI's ability to hire additional staff? By staff, I assume Schiller means technical staff, people to find the best locations to drill, people to economically & successfully drill & complete development wells, finally people to produce and operate EXXI's additional fields & the ensuing new wells.
As a sidebar, '12 was my 1St year of retirement & during the year I received numerous inquires regarding my willingness to consult on practically any basis. Also some of the younger group of prior SOC employees, a group that has meet monthly over the 28 years-can it be that long-almost always solicit for those interested in joining their respective E&P companies. Most today pursue Shale plays & EXXI is looking for conventional types essentially looking for bypassed fault blocks and missed pay sands. That requires a skill set that belongs to the dinosaur types, which are finally nearly extinct, even in Houston.
Good luck with that stock. Good old fields, but some tough prospecting. Steep flanks of deep salt domes & salt overhangs, the probability of expensive & disappointing sidetracks is high. Up goes the F&D cost. |
