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Page added on December 20, 2013
Special Briefing Frackings Achillies Heel
Very interesting analysis by Deborah Rogers a former investment banker with lots of very interesting facts and figures. postcarboninstitute 18 December 2013
3 Comments on "Special Briefing Frackings Achillies Heel"
rockman on Fri, 20th Dec 2013 6:04 pm
Well worth the time IMHO. Does a great job of pointing out how companies got burned buying into the plays late into the game. Often suffering 50% right downs in asset value with a year or two.
J-Gav on Fri, 20th Dec 2013 6:52 pm
I agree Rockman. Sounds almost semi-technical at first but it’s quite accessible. My takeaway: (with fracking, whether tight oil or gas) “There’s clearly a problem with generating cash despite all the massive capital expenditure.” So they try and flip these plays to some unsuspecting shlocks but haven’t had as much success at it they would have liked. So they (they being 20 big companies she’s looked into, including Chesapeake, Shell, etc) have had to take multi-billion dollar write-downs … Another great capitalist success story!
DMyers on Sat, 21st Dec 2013 1:09 am
A story of fraud, WORSE than snakeoil. Deborah Rogers makes a good presentation. Financially, it doesn’t look good for the frackers, so there goes the trickle down to the quackers.