“This is an important milestone for ConocoPhillips as we progress our phased exit from deepwater exploration in West Africa,” said Matt Fox, executive vice president, Strategy, Exploration and Technology.
they should Ban Matt Fox from making any future statement. pooor cop
COP is so pathetic. What a sh*tshow the company has become! I’m glad I’m no longer with them. Rots Of Ruck to anyone who chooses to maintain faith in the lies Lyan Rance and his ELT propagate.
It's always a surprise when a major admits they can't develop a hald a billion barrel deepwater field. This is the foundation upon which the company builds value - divesting says everything.
Why is this a surprise? ConocoPhillips made it clear that they were exiting deepwater last year. Sounds like everything is proceeding according to plan.
Exploration have found 520MMbo - any other company would keep this in the hopper or try to make it work. This decision reveals ConocoPhillios weaknesses:
a culture that does not allow risk taking
a lack of capability in developing deepwater
legacy assets / balance sheet not capable of supporting a deepwater program
Pathetic, absolutely pathetic decision to divest this asset. This speaks volumes about the future of ConocoPhillips.
when it comes to EXIT, Matt Fox and his fellows are natural … way to go CoP
Time to go back to Scotland matey.
Those fumbduckers could find oil in an Auto Zone.
Super excited to see them redeploy capital to another failed venture.
Matt Fox is Lost
http://fuelfix.com/blog/2016/07/13/conocophillips-to-sell-share-of-senegal-offshore-blocks/