Total, WKN: 850727, €, Scheine verfügbar http://www.total.com/
Total is one of the world’s major oil and gas groups, with activities in more than 130 countries. Its 96,000 employees put their expertise to work in every part of the industry - exploration and production of oil and natural gas, refining and marketing, gas&power and trading. Total is working to keep the world supplied with energy, both today and tomorrow. The Group is also a first rank player in chemicals.
Total has been active in Exploration and Production in the United States since 1957.
In the Gulf of Mexico where Total focuses on the deepwater, Total is currently participating in two major development projects: Total holds an equity share of 17% in the Tahiti project (start-up in mid-2009) and also owns 33% of the Chinook project (start-up mid-2010). Total also operates two producing deep shelf fields, Matterhorn and Virgo.
Total is present in other areas of the United States. The Group has acquired a 30% working interest from Chevron in several onshore exploration blocks in the White Hills area, Alaska, on which an exploration program is currently underway. Additionally, Total has a portfolio of exploration blocks in the Beaufort Sea, offshore Alaska.
Recently, Total acquired a 50% stake in IDT Corporation’s American Shale Oil, LCC (AMSO) subsidiary, to jointly develop a research and demonstration program to produce and commercialize oil shales on AMSO’s federal leasehold in western Colorado. Total also enters into an offshore exploration permit in the Nile Basin, Egypt. This award brings Total back to Exploration and Production in Egypt, where it was previously present between 1975 and 2001. Total intends to bring its experience of deepwater developments to Egypt. Total is also present in downstream, through its marketing subsidiary Total Egypte.
In North Africa, Total is present in Exploration and Production: in Libya with exploration and production assets located offshore and onshore, and in Algeria with onshore gas production permits.
The Long View on Deepwater Drilling
http://www.fool.com/investing/genera...-drilling.aspx
Toby Shute, May 8, 2009
Whenever we stop to check in on the results of the offshore drillers, it's important to consider the Long view -- that is, the perspective of Bob Long, CEO of Transocean (NYSE: RIG).
Long kicked off
Transocean's quarterly conference call with a note of optimism on the deepwater market. Yes, the company's seen bidding activity sputter since the revenue backlog peaked back in the third quarter of 2008, but the dayrates on this year's three fixtures, falling in the mid-$500,000 to low-$600,000 range, are still historically strong. It's exactly those sorts of long-term contracted rig rates that provide Transocean a fat $17.4 billion free cash-flow backlog, which now exceeds total debt by $4 billion.
Transocean has five new rigs going to work this year for supermajors including Chevron (NYSE: CVX), StatoilHydro (NYSE: STO), and BP (NYSE: BP). Not to beat a dead Thunder Horse, but these are A-list clients. Those rigs will deliver a huge stream of cash next year, when another five rigs hit the water.
Transocean is riding a comfortable wave compared to largely mid- and shallow-water oriented drillers such as Atwood Oceanics (NYSE: ATW) and Ensco International (NYSE: ESV). Given the softness emerging in those markets, both of those companies have to be pretty happy they've ordered up some deepwater rigs of their own -- even though Atwood is paying a relatively steep $750 million for its second semisubmersible.
At the end of the day, the Long view largely conforms with my own: Transocean, like the
deepwater-levered Pride International (NYSE: PDE), has nothing treacherous standing in its path.
Nachrichten "Deepwater": http://www.finanznachrichten.de/such...ords=deepwater