Bud's Offshore Energy (BOE)

Posted in Uncategorized | 3 Comments

3 Responses

1. on January 6, 2026 at 10:18 am | Reply Jarvis

   Interesting repost, given the current state of international affairs!

   What are your current thoughts on the privatization and reactivation of Venezuela’s oil fields under a regime of tax and royalty payments like exists in the US vs. the intentional path of nationalization, value capture, and national reinvestment represented by Norwegian global fund (https://www.nbim.no/en/about-us/about-the-fund/)? After all historically, the economic imbalances exacerbated by oil wealth and crony capitalism in Venezuela seems to be part of what allowed the Chavez regime to take hold in the first place.

   
   
   • on January 6, 2026 at 11:04 am | Reply offshoreenergy

     Good comment! This will be very complicated given that the public wants to see immediate progress, many of the remaining residents are invested in the Chavez/Maduro regime, companies that exited Venezuela want debts to be repaid, and some oil customers are no longer welcome. I have no idea what the plan is, or who is going to be implementing it.
     I wonder how this will affect investment in US E&P, particularly in the Gulf. Participation in the BBG1 sale was not particularly impressive and exploratory drilling has been limited. Gulf production is at record levels owing to New FPU installs at past deepwater discoveries, tiebacks, and enhanced recovery, but is not sustainable without increased exploration. With Venezuelan production ramping up and serving Gulf Coast refineries, what does this mean for the GoA? We shall see!

     
     
2. on January 6, 2026 at 10:19 am | Reply Jarvis

   Interesting repost, given the current state of international affairs!

   What are your current thoughts on the privatization and reactivation of Venezuela’s oil fields under a regime of tax and royalty payments like exists in the US vs. the intentional path of nationalization, value capture, and national reinvestment represented by Norwegian global fund (https://www.nbim.no/en/about-us/about-the-fund/)? After all historically, the economic imbalances exacerbated by oil wealth and crony capitalism in Venezuela seems to be part of what allowed the Chavez regime to take hold in the first place.