Next they need to shut down Bartlesville and shut down the 30th St. office in Farmington New Mexico to continue to reduce cost! Move all of the support services including engineering to Houston!
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not really.... prices are coming back due to speculation but not on actual data.. I know it sucks but its the truth. once the market adjusts the prices will stay in the $40-$45 range which is doable but not the best situation to be in for COP. Its debt ratio as a company is 78% which is not a good position to be in. The pulling of debt to pay the dividend in 2015 was not a smart move. On Q1 2016 call they announced they pulled an additional $4.6 billion of debt but lowered capital guidance so something is going on. Alot of though decisions to be made for Mr. Lance and Fox.
between a rock and a hard place, as prices improve the shale will come back online
I am sure that is what they have in mind buying Energy Center 3. Plenty of space to consolidate all of the support services! Much easier to recruit talent in a thriving area with many opportunities!