At the current price of oil asset sales and tapping into the credit facilities are the only options other than M/A (or bankruptcy).
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Gotta pay that dividend.
Then close your eyes and tap your heels together three times. And think to yourself, 'There's no place like (cash flow neutrality)'.
The 24% cut in capital presentation prior to the 4th quarter results is a preemptive signal of fiscal insecurity associated with the infamous "cash flow negative" and tapping of the credit facility. The banks at some point will call in the debt as the assets are worth 50% of the original value.
It's not the end of the road - assets will continue to be sold. Of more concern is the culture - best takeover defense. Nobody wants to take on scrappy assets and third rate rejects from more successful companies. There has to be somewhere where the crap has to belong in a company that focusses on execution and not value.
Please don't let conoco go bankrupt... My resume will be tarnished...
Rumors? or just your opinion
End of the road for asset sales and credit facilities. The assets are underwater. The credit facilities are tapped out.