1. Q3 Earnings Calls to Focus on Capex Direction and Cost Management- The news of ExxonMobil being in advanced talks to purchase US shale producer Pioneer Natural Resources for some $60 billion has set the scene for a very interesting period of Q3 earnings calls in the second half of October. - When it comes to drilling costs, widespread expectations for 2024 to see lower well costs have been moderated on the back of the recent oil price rally, ongoing labor shortages, and sticker-than-expected oil service costs. - Drilling activity has subsided…
