ConocoPhillips Shops Large Mid-Continent Portfolio as Asset Paring Continues.
Source: https://www.thestreet.com/story/14121372/1/conocophillips-shops-large-mid-continent-portfolio-as-asset-paring-continues.html?puc=yahoo&cm_ven=YAHOO&yptr=yahoo
6 replies (most recent on top)
The problem with gas assets is the shale revolution. A significant byproduct of shale oil production is methane gas. It is difficult to store gas so in order to produce more valuable shale oil we must produce gas. Over supply is expected for decades. Shale oil producers will give gas away if the have to. On the other side mature gas assets cost more and more to produce less and less. These divestments make long term sense.
only producing asset bartlesville lol
It ends when everyone has been let go and only managers are left.
PAB being divested by auction. Who stays. Who goes. GOM & Permian on deck. And shale, keep drilling and losing money. Where does this go? What is the strategy? What does COP look like after this ends ( if it ever does end).
Soon our only producing asset that we will have left will be B'ville!
Old news - this was announced months ago.