Thread regarding ConocoPhillips layoffs

Goodbye ABU West

The great sell off continues.

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Post ID: @OP+11vFfBMB

14 replies (most recent on top)

Good luck ConocoPhillips. Glad to be finally gone.

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Post ID: @3Gwwz+11vFfBMB

It's like they aren't familiar with what base production is, and why it's important. Especially when we aren't willing to spend the money to replace those lost reserves. Just keep reducing our revenue. Bold move, Cotton, let's see if it works out for them.

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Post ID: @9bsr+11vFfBMB

Risk of nationalization? Then why is COP in South America, do they not remember Venezuela?

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Post ID: @6kqu+11vFfBMB

Selling high cost, high risk, low margin assets in our current environment is smart. There is no supply and demand changes on the horizon. As Ryan predicted a couple of years back supply will keep prices near $50 for a decade or more. With multiple decade drilling inventory in low risk low cost areas other areas at $50/bbl can't compete. Disposition of areas with high development costs areas and local governments taking 50% or more off the top and risk of nationalization is smart when we have safer places to put our money to work in. Projects in high risk areas requiring hundreds of millions of dollars investment with with years before production begins are dead. Looks at what all the other large oil companies are doing,

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Post ID: @6izf+11vFfBMB

Albert Einstein: The definition of insanity is doing the same thing over and over and expecting different results.

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Post ID: @5sut+11vFfBMB

sell assets, buy back shares; sell assets, buy back shares; sell assets, buy back shares; sell assets, buy back shares; .....until assets=0

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Post ID: @4fsv+11vFfBMB

To think that we are still hoping for EF and Alaska to keep us afloat...yikes

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Post ID: @3kzy+11vFfBMB
  • ”this transaction allows us to allocate capital to other projects that we believe will generate the highest long-term value to ConocoPhillips.”

This ought to be interesting. Go grab something to drink, cook up some popcorn and let’s wait to see what happens when our esteemed ELT finally realizes that they’ve told them one heck of a story and that the long-term “value” doesn’t actually exist for at least half of these other projects which require significant amounts of future capital. Smart Growth, Superior Returns, SPIRIT Values. Yeah, ok...

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Post ID: @2qye+11vFfBMB

Malaysia next to go.

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Post ID: @2tzv+11vFfBMB

Only Norway and Canada left in the cupboard. Place your bet please.

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Post ID: @2llc+11vFfBMB

The numerator stays the same (HQ cost and Employees) but the denominator keeps getting smaller and smaller ( BU's to allocate the HQ cost out to). All this does is make your cost per BOE even more expensive in a shaky oil price world.

In the absence of an idea sell assets , increase dividends a buy back shares.

Rinse and repeat until $45bn market cap

What's the worst that could happen? Nice cash position, huge synergy savings in the HQ. Prime time takeover target. Thank you very much

Repeat after me " There is no white elephant in the room" Listen to my words and not my actions.

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Post ID: @2qrv+11vFfBMB

Shedding assets left and right. Smart growth (really?). Superior returns (seriously?). Time to dust off and polish up those resumes kids!

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Post ID: @2dyy+11vFfBMB

Are we just selling everything off, where does it end?

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Post ID: @2pfg+11vFfBMB

I'm sure glad this is not a fire sale!!!! Let's see if this will get the stock back to the pre split price! smh

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Post ID: @1sio+11vFfBMB

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