[Editor's note: A version of this story appears in the October 2021 issue of Oil and Gas Investor magazine.]
The resiliency of the oil and gas industry has never been more apparent than it has over the past 20 years. While it’s likely that the market growth the industry has enjoyed in the past is over, and that investment sentiment has severely waned, the prospects for hydrocarbon development remain strong.
Still, the energy transition away from fossil fuels is forcing companies to re-examine their operations and even the types of energy they develop. Super majors, whether by sheer force of outside influence (Exxon Mobil Corp.), legal mandates (Royal Dutch Shell Plc) or self-imposed emission reductions (Equinor, BP Plc), are embracing new methods of producing ESG friendly sources of energy.
Hart Energy recently visited with Amy Chronis, U.S. oil, gas and chemicals leader at Deloitte, and an author of the report, “Portfolio Transformation in Oil and Gas.” Chronis discussed what those myths are, how companies should be viewing their operations as the energy transition evolves and why shale development still remains a highly valuable industry.