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This week features Mark’s Oil and Gas Predictions for 2024.

Oil and Gas Predictions for 2024

1. See you in court. It will become socially acceptable for the oil and gas companies affected to sue environmental activists that interfere with her operations in court. This will change the financial model of activist organizations.

2. NatGas Infrastructure boom. This will accelerate for the next couple decades, as the promise of renewables has disappointed consumers and politicians.

3. XOM goes private. This frees management from having to deal with activist shareholders that do not understand the oil and gas in history. This will also allow them to make operational changes without triggering government investigations or having to answer to the board. This will make ExxonMobil much more than nimble and competitive than it is now, especially for talent.

4. Interest rates will get worse. Interest rates will start going back up after election, affecting large longer term projects.

5. Peak electric car sales.

6. OFS bonanza. The beginning of a multi-year oil field services and equipment boom. DUC inventories are near zero, capital is finally available for OFS, supply chain issues are still here and hydrocarbon demand will increase. This will also move the negotiation leverage away from the operators and back to the service companies.

7. Molecular business. The industry is becoming a molecule industry

8. ESG is toast.

9. Shale Growth

10. Oilfield pride baby. The rebirth of the importance of all oil and gas workers and companies will lead back to being proud to work in this industry, like it was in the past.

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