JPT Quiz—Are You Keeping Up? Answers and Explanations

 Big oil companies are making so much money they are buying back stock worth billions of dollars each year, except this one

  1. Total
  2. BP
  3. Exxon Mobil
  4. Shell

Correct Answer: ExxonMobil

Explanation: ExxonMobil stopped big buybacks in 2015, and has focused its spending on getting its production growing again and increasing its dividend.

ExxonMobil and Hess recently raised the estimate of the recoverable reserves from the Stabroek block off Guyana by 20% to 4 billion bbl. Hess said the likely production from the block could require how many FPSOs?

  1. 10
  2. 3
  3. 5
  4. 7

Correct Answer: 5

Explanation: A story quoting Hess predicted that the massive find could produce 750,000 B/D and require 5 FPSOs.

In its recent earnings call Schlumberger management talked about a business it is building via an acquisition in

  1. Artificial Intelligence Consulting
  2. Subsea Electrification
  3. Sand Mining
  4. Nanofluids

Correct Answer: Sand Mining

Explanation: Schlumberger is buying sand mines, allowing it to profit from sales of sand for fracturing at a time when many operators are no longer paying pressure pumping companies to supply it.

The top 50 service companies reduced their workforce by 35% between 2014 and 2016. What did they do last year?

  1. 5% workforce gain
  2. 10% workforce cut
  3. 5% workforce cut
  4. Workforce employment was unchanged

Correct Answer: Workforce employment was unchanged

Explanation: Overall employment by the top service companies was flat last year according to a survey by Rystad, which found that US unconventional hiring offset continued losses elsewhere, and predicts gains as growing offshore activity sparks hiring.

Related Read: Growth in Offshore Activity Could Lead to Recruitment Boom

BP agreed to pay 10.5 billion for BHP’s US unconventional acreage in the Permian, Eagle Ford, and Haynesville. BHP previously agreed to sell its acreage in the Fayetteville for $200 million. How much did BHP pay to get into the US shale business.

  1. $20 billion
  2. $5 billion
  3. $7.5 billion
  4. $12 billion

Correct Answer: $20 billion

Explantion: The acquisitions used to build the position cost BHP $20 billion according to this article.

JPT Quiz—Are You Keeping Up? Answers and Explanations

31 July 2018

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