This segment is from Tuesday's edition of "Digging for Value", in which sector analysts Joel South and Taylor Muckerman discuss energy & materials news with host Alison Southwick. The twice-weekly show can be viewed on Tuesdays & Thursdays. It can also be found on Twitter, along with our extended coverage of the energy & materials sectors @TMFEnergy.
Brazil has finally opened the turnstiles to its Libra field off its southern coast. While the auction didn't attract as many big fish as the country might have hoped, positive news from the development side of things could draw more attention as more of the overall Santos basin is opened up. This particular auction, however, was an international affair. For their efforts, Royal Dutch Shell (NYSE:RDS-A) and Total SA (NYSE:TOT) will each receive a 20% stake, with CNOOC Ltd (NYSE:CEO) and the China National Petroleum Company each garnering 10%. Moving forward, all eyes will be on how these companies interact with Petrobras (NYSE: PBR) and the extent of the Brazilian government's meddling. For more on the potential within the Libra field for these companies, tune in below.
These companies aren't the only ones preparing for the future of $100 oil