WTI @ $34. ConocoPhillips is $26 per barrel short of $60 per barrel break even. $1.5 billion per month loss.
9 replies (most recent on top)
If the current budget breakeven is about 45/bbl, then the best COP is shooting for is just that. Why invest in COP? I can do better putting my money under the mattress.
With the current budget breakeven is about 45/bbl.
Still not profitable but significantly better than at 60/bbl.
Spoke too soon. WTI $32.
The discussion is rhetorical. The company is selling assets and tapping into debt facilities to keep the lights on. The capital is cut due to a lack of options to produce at a profit within the current opportunities.
Cash flow neutrality and per barrel break even are two different things. One could quit investing in the business and forego capital expenditures and erase the cash shortfall. I think someone else is the idiot here.
@FjaHLbG-nyl what a serious dumbass. No wonder you got laid off - for good reason too!
cash flow positive is break even, duh... idiot. And the numbers are via the analysts presentations by ConocoPhillips upper management Fact is stranger than fiction.
Where do you people get these preposterous numbers from? $60 is not a cost per bbl breakeven cost, it is what was used to project the company will be cash flow positive by 2017.
Wait and see...It's heading to worse before it's getting better.