Good morning, here's what the Oilman has for you today:

• Climate Change Top Reason to Shun Investments

• Exxon Shale Chief Faces Sexual Assault Allegations

• Upcoming Oil and Gas Events

• Tweet of the Day

Climate Change Top Reason to Shun Investments

Climate change concerns are the biggest reason banks and funds shun certain companies from their investment portfolios.

That’s the conclusion of a study by a group of green NGOs that no doubt celebrated the news.

The fear factor

The group looked at 150 pension funds, insurers, and banks.

It found that 40% of exclusions from their portfolios were made on the grounds of climate change considerations.

You’d think compiling the data would be enough, but no.

The NGOs published a list of the excluded companies for the purposes of naming and shaming.

Because apparently, that’s the way to force companies to change their ESG ways.

While oil investors enjoy their fat dividends.

I mean, the list of “bad” companies includes Exxon, Cenovus, and Suncor.

Backlash works slowly

The ESG investing narrative has been breaking down lately.

Perhaps that’s why those NGOs felt tempted to tell their audience not all is lost.

The fact remains that picking companies on the basis of some ESG requirements has failed to benefit investors.

There’s also the backlash from several U.S. states against ESG investing requirements.

It was hilarious how quickly the likes of Vanguard and BlackRock U-turned when Texas threatened to divest billions from their funds.

Suddenly, Vanguard and BlackRock loved oil and gas.

So do a lot of other investors.

Too bad some banks, insurers, and pension funds are too preoccupied with climate fearmongering to think about their purpose of existing.

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Exxon Shale Chief Faces Sexual Assault Allegations

An Exxon vice president in charge of the company’s shale business has been arrested on allegations of sexual assault.

The arrest comes days after news broke. Exxon is in talks to buy Pioneer.

Head of the Permian

It could be a pure coincidence, of course, but David Scott was the man responsible for Exxon’s business in the Permian.

“Was” because Exxon was quick to say in a statement that “this individual will not continue work responsibilities.”

It’s standard behavior for such uncomfortable situations.

But it’s the Permian that the Pioneer deal focuses on if successful, it would make Exxon the biggest player there.

So, Scott had to have been involved in the negotiations.

A new age of consolidation

Whatever happens to David Scott, it might make for a good thriller.

Meanwhile, however, the push for consolidation in the shale patch will continue.

In fact, some see a whole new era on consolidation.

That era could result in just a handful of companies controlling the industry.

No more small independents.

No more wildcatters.

It would be the final chapter in the maturation story of U.S. shale.

After all, now is the time to buy, thanks to last year’s record profits.

Buying appetite, however, also means that oil players know it’s not over for their product.

Consolidation is a bet on the long-term future of oil.

Good to know there is one.

Upcoming Oil & Gas Events

• October 12: Arkansas Independent Producers & Royalty Owners Association Annual Meeting, Little Rock, AR

• October 12: Indiana Oil & Gas Association Annual Meeting, New Harmony, IN

• October 12: Oklahoma Oil and Gas Expo, Bennet Event Center, Oklahoma City, OK

• October 16: Fall Classic Golf Tournament, Ratliff Ranch Gold Links, Odessa, TX

• October 16-18: SPE Annual Technical Conference and Exhibition, San Antonio TX

• October 16-18: IOGCC Annual Conference, Park City UT

Around the Global Patch

🇮🇷 Iran's role in key trade corridor.
🇮🇱 Israeli violence halts Chevron gas field.
🇷🇺 Russia expands influence with gas exports to Uzbekistan.

Tweet of the Day

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