Thread regarding ConocoPhillips layoffs

COP to buy Shell Permian 9.5B in Cash

Goodbye VCIP!

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| 2481 views | | 15 replies (last )
Post ID: @OP+1cVRR5AC

15 replies (most recent on top)

A 4% bump on share price yesterday (Shell was up 3.75%) says otherwise (other oils were pretty flat). Likely increases the percentage of capex that flows to the Permian in the next 5-10 years, so other parts of the portfolio will continue to be squeezed. But it’s clearly in line with the stated strategy, and not an obviously d-mb move from a total shareholder return perspective.

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Post ID: @2pie+1cVRR5AC

So this is the new “strategy”, huh?
Jeezus. The entire ELT and RL should be let go next round.

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Post ID: @1oqd+1cVRR5AC

We cannot give the target because we do not know what the future will be.. we need to save our cash because the future is uncertain...

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Post ID: @1asw+1cVRR5AC

$42k/net acre. Why not just pour the cash into meme stocks?

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Post ID: @1efj+1cVRR5AC

Not too long ago M F*x proved there wasn’t any oil in the Permian.

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Post ID: @1gal+1cVRR5AC

Get your affairs in order. The next round(s) are in the way.

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Post ID: @1jvu+1cVRR5AC

I love it that our ‘innovation’ is to make 2 acquisitions in basically the oldest play in the US. XOM tried this plan 4-5 years ago?

what’s the next bright idea - buy some refineries?

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Post ID: @1vrn+1cVRR5AC

Global, diversified….$20B in Permian?

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Post ID: @1lpd+1cVRR5AC

So much for any hope of a good raise... like we've been having a lot of those recently!

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Post ID: @1eby+1cVRR5AC

More water, more earthquakes. Just groovy.

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Post ID: @1sio+1cVRR5AC

Are we so arrogant that we think we can extract more value from these assets than Shell?

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Post ID: @lst+1cVRR5AC

Well i guess we now know why we didn't get our 401k bonuses. i'm sure the ELT will get a nice bonus when the deal closes; forget the people who have to keep this train on the tracks...

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Post ID: @lci+1cVRR5AC

Goodbye Alaska office!!! Move to Midland or so long suckers!

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Post ID: @gje+1cVRR5AC

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