The long list of assets sold in the last few years will get longer. In a move that is long overdue, all of the neglected conventional assets in the Permian Basin will be sold. It has been clear that this is the path we've been on as there has not been local management invested in the success of these assets for quite some time.
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Just keep Infilling with marginally economic EAGLE Fart wells to replace the production. Add another straw. It’s all about the VCIP.
The Waddell Ranch data room just closed. These assets will be gone within 6 months. That leaves us with Goldsmith, Hobbs and Delaware Basin. Unless something drastic / unforeseen happens, we‘lll be out of the Permian altogether within 2 years.
This is silly. We aren’t selling the Permian. We are buying more.
Production? We don’t need no production! Keep selling assets.
Pull the covers off and these assets are some of the worst b–tardized operations i’ve ever seen. $0.15 on the $ at best.
That would be a big mistake. What would replace them for base production?
Is it official announced or just random things in here?
The irony is that Oxy would be a good fit to buy these assets, but right now they are in over their head with Anadarko, so the odds are lower that they can.
Gotta pay for the share buybacks!
It's unfortunate that the investment community views these as unfashionable. Very low cost and great, steady, long-term revenue. Especially if you invest a little for secondary/tertiary recovery.