I don’t understand why there is new declaration of dispositions. What assets are left to be sold ? I thought all marginal assets are already gone. What’s the use of selling assets and buying back stocks? Is there ever thoughts about production growth at higher up levels?
6 replies (most recent on top)
Stock price is c-ap. Buybacks are a way to artificially prop the price. But these guys have been doing it so long that it doesn’t seem to be working anymore.
It’s all about power and ego for our leaders.
Management has been handsomely rewarded for making the "hard decisions" (layoffs and asset sales), and will continue down that path because dismantling a company is easy compared to building one. Their egos tell them that no matter how small the company becomes, "they" will always be safe... until they're not.
Steady liquidation.
Norway. ABUE. Niobrara. Exploration assets. Canada heavy oil. EF third tier ...
It’s all about stock price for the leaders.