Now that the shale plays are end of life (cheap easy oil), COP will have to look elsewhere for the next value play. Where? Venezuelea, Alaska(NPR), Nuclear?, Solar? Where?
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Glad we spent 9 months of our time transitioning Eagle Ford off of MRO post-close to be responsible for it ourselves for not even 9 months and now prepare to give it back to Ensign.
How on earth did those wasted efforts get approved by CEP
When does COP realize that its runway and tactical advantages are international and the pivot from onshore to international occurs?
Shale oil isn’t and never was cheap. It is easy from a development standpoint. Not sure why it requires any geological staff - there is virtually no uncertainty as to it’s location or extent. The EagleFord was one of the few “wins” from the Burlington acquisition and we still had to write down most of the purchase cost. Shale plays suit us. Low risk, unimaginative and predictably high cost.
AI will be used some, Williow will increase oil volumes, the banks will loan to COP to keep the company afloat. Parts will be sold. Drilling some new wells.
Red Queen is taking the HOV lane to ConocoPhillips ….expecting declines in Eagleford and possibly North Dakota…recent completions are sub par and extra lateral length is proving diminishing returns…
How is COP floundering? Give some details…please
COP will be sold in
parts. Won’t take much. This company is
floundering.
Yes…lets disorient the upper management…spook them that the6 have a couple years till peak oil is expected with serious OPC and declines shortly afterwards…
They can still mess with frac recipes and eke out some more oil. The production rates are actually pretty good at the moment….are you seeing serious declines and where