Media Mentions
2008
John P. Cogan Jr. was quoted in an August 26 article published by CNNMoney.com regarding the increase in demand for workers on oil rigs and the struggle to find the new workers. Mr. Cogan commented on the lack of workers along with the rising prices of oil field goods and services resulting in increased hardships for both oil field service companies and customers alike. "The available supply of labor and equipment in the industry is very tight. In that situation, prices just go up," he said. "It's going to cost them more than they'd like, and more than their customers would like."
John P. Cogan Jr., Corporate, Energy and Derivatives Markets, Global Renewable Energy, Emissions and New Products
John P. Cogan was quoted in the July 11 issue of Investor's Business Daily in an article regarding the difficulty Alaska has had in opening its reserves to energy development. Congressional restrictions on opening up the Arctic National Wildlife Refuge to development prevent the region from turning out an estimated 876,000 barrels of oil a day, with reserves at 10.4 billion barrels. Mr. Cogan noted that current estimates rely on old data and reserves may actually be as high as 16 billion barrels. "The geological data are pretty old and most of the information we have is derived from older technology," he said.
John P. Cogan Jr., Energy and Derivatives Markets
John P. Cogan was quoted on April 30 by the Associated Press in an article regarding President Felipe Calderon's decision to talk with guerrillas linked to gas pipeline explosions in Mexico. The attacks have been a turnoff for investors watching an energy reform bill before the Senate that would remove bureaucratic obstacles to Mexico's state-owned oil company, Pemex, working with private investors. "If I were an investor, I would say we ought to talk to the rebels," said Mr. Cogan. No matter how much security is provided for the pipelines, "there are always going to be opportunities for guerrillas and various types to step in when nobody is watching," he added.
John P. Cogan Jr., Energy and Derivatives Markets
John P. Cogan was quoted in an April 14 article published by Energy Law360 regarding his recent move to McDermott's Houston office. As a new partner in McDermott's global Projects and Infrastructure Practice Group, Mr. Cogan discussed his reasons for joining the Firm. "I'm a builder, I love to build things. McDermott presented me with an irresistible opportunity to start something locally and apply my life's work to their first-rate global platform. I look forward to helping lead McDermott to the forefront in the Houston market," he said. Mr. Cogan, who has worked for the last 40 years in the oil sector, also noted his taste for continuing changes and developments in the hydrocarbon field. “I once had a teacher who said change is good for people. Change is good for the industry, it leads to unforeseen opportunities, and for me personally, it keeps my batteries charged," he said.
John P. Cogan Jr., Corporate, Energy and Derivatives Markets
