Thread regarding ConocoPhillips layoffs

The Next Downturn Assets to Sell???

ConocoPhillips have done the following amount in asset sales since 2016:

  1. 2016 Sold $1.3 Billion of Assets
  2. 2017 Sold $13.9 Billion of Assets
  3. 2018 Sold $1 Billion of Assets
  4. 2019 YTD Sold $2.9 Billon of Assets (not including Australia West, Magnolia and Niobrara)

Is the $10 Billion Lower48 Capital Investments from 2016 thru 2019 not providing the cash flow needed to pay for those sharebuy backs and dividends, where is all that production cash flow going from the Big Three?

If ConocoPhillips is still having to sell assets to pay for sharebuy backs and dividends, what is it going to sell during the next Downturn in Energy Prices to pay for Operations and Staff Cost?

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Post ID: @OP+12dfXOFu

2 replies (most recent on top)

We sold a lot in 2015 too. In a record low commodity cycle.

Post ID: @cxhg+12dfXOFu

It’s obvious the company is in slow liquidation mode. The greedy corrupt ELT keeps their jobs, and high pay each year, as they shrink to survive and pay for dividends and stock buybacks.

Wall Street is mesmerized by the Scottish accents and that guy from “The Office”.

Post ID: @5tpe+12dfXOFu

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