That will cover the dividend for 1 qtr.
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Sell that s---errr first thing on Monday morning. That would be nice.
When does AMBU get sold?
Based on the price Shell received for the Albian Sands mine etc (7.5 billion for 60 percent) that's equivalent to their 20 percent share in the same assets. The rest of Chevron oil sand assets, such as Ells River and Namir have no perceived value at this time and they will be glad to unload them.
I read yesterday, that ConocoPhillips sold (ditched) one of their large natural gas assets to Hilcorp for $3 billion. You get the story, right? The big boys on he block, ConocoPhillips and others like ExxonMobil and Chevron are shedding assets to up-and-coming giants in the energy business like Hilcorp. Maybe I should begin looking at what Hilcorp has to offer. A job with them seems to be the right path for me to take. I'd rather be part of a winning team.
Chevron's daily net light and gas production in Canada in 2016 was less than the BOE of a single Gorgon project producer well.
A sale of all that crap in Canada would be a blessing. That business unit hasn't earned much in a decade or so. Wish we could trade it all for a position in the Dakotas.
Another great long term investment decision that looked good on paper, but now has to be sold to cover the losses of all the other great long term investment decisions. Chevron continues to cannibalize itself, selling assets to sacrifice at the alter of the dividend. What an absolutely inept group of senior management decision makers.