Exxon, Chevron Drilling Risk for Oil May Depress Share Values

The world’s largest oil companies are drilling deeper than ever to find fields as energy demand rises and countries such as Saudi Arabia limit access. That may be the bad news for shareholders.

The wells may yield nothing more than a lesson in what happens when drilling deeper than the height of Mount Everest. Oil companies including BP Plc and Royal Dutch Shell Plc are seeking to replace the millions of barrels of oil pumped each day. Any failures would leave the producers vulnerable to declining reserves, output and earnings.
Bloomberg