Thread regarding ConocoPhillips layoffs

Eagle Ford / Bakken / Barnett

COP also got our holdings in Eagle Ford & Bakken (as well as Barnett) unconventional shale from the Burlington acquisition. Where would COP LWR 48 be today and going forward w/o the heritage Burlington assets in EF & Bakken? How much of the Lwr 48 budget is targeted in the EF & Bakken...9 out of the 12 rigs we have in the Lwr 48 are drilling in EF & Bakken.

Lwr 48 w/o the heritage Burlington assets would be marginal/non-commercial and would be sold-off in entirety. Imagine the head count of COP w/o Lwr 48. The fact that we are a high-cost inefficient operator and are currently in the red on a cumulative cash basis with no prospect of of breaking even on cumulative cash flow in a $40-$60 oil price environment is all on post-acquisition COP.

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Post ID: @OP+NmNv8Sh

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Doubtful Burlington operated shale assets would be cumulative cash flow negative. "Spirit Value" COP just can't seem to match EOG, Pioneer and Continental Resources performance in the shale plays. COP is a proven and recognized lethargic & high cost operator in the industry and by our working interest owners. Again, on a cumulative cash flow basis, COP is under water in the Eagle Ford, Bakken and Delaware with no prospect of reaching break even in a $40-$60 oil environment. Too bad Burlington is not operating.

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Post ID: @ckj+NmNv8Sh

We wouldn't be. The split would have never happened and we'd be a footnote in the E&P space.

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Post ID: @txi+NmNv8Sh

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