Phil Kirk Interview on North Sea Oil Production

The transcript discusses a company's strategy to become a leading independent in the UK by focusing on production and acquiring assets from major companies like Shell. The company aims to maintain low operational costs and ensure job security for its staff. It plans to make further acquisitions in the North Sea and has hedged its Brent price. The company sees opportunities as major players shift focus away from the UK continental shelf.

What is the company's initial production target in the UK?

• 200,000 barrels a day

• 115,000 barrels a day

• 50,000 barrels a day

• 300,000 barrels a day

How does the company plan to improve unit costs?

• By increasing hydrocarbon production

• By reducing staff

• By cutting research funding

• By selling assets

What assurance is given to the staff acquired from Shell?

• They will receive a pay cut

• They will be laid off

• They will be relocated

• Their jobs are secure with no layoffs planned

What is the company's stance on further acquisitions?

• They are not interested

• They are considering it

• They are actively pursuing more acquisitions

• They have no capital for acquisitions

Why are major companies turning away from the UK continental shelf?

• Due to high taxes

• Environmental regulations

• Because of global portfolio strategies

• Lack of skilled workforce