The unconventional powerhouse that isn’t COP

We have yet to drill a profitable well in the Delaware, yet we have a large group that still works the asset? How much money has that thing s---ed up as of yet? Same for Niobrara, we walked on a billion dollar deal only to continue pouring money into this pit. Bakken from what I hear is not profiting on full cycle, which leaves the Fart as the only unconventional asset that has just barely begun to make money.

Meanwhile we want to start a unconventional revolution in South America. We have been in Colombia for how long and have drilled what a couple of vertical wells? They screwed up permitting there so they can’t even drill the horizontals they wanted, bravo big E! We have tried twice to get into Argentina only to have that group realize we have laws against dealing with Russians or members of the local government, once again a clown circus.

Now since it is plainly clear to everyone but the ELT that we s--- at unconventionals we try and redirect our friends on Wall Streets to Alaska. Funny that we missed the boat there as well. Confusing well connectivity, thin reservoirs all the makings of the next flop.

The scary thing? We are even worse at conventional plays...oh the joy of working at COP!

Comment! It's anonymous!

6 replies (most recent on top)

Our expertise is in Canadian oil sands. Producing high cost, low grade oil in a hostile environmentalist & indigenous people setting. How many companies could or would take on that challenge?

COP would never do what was previously mentioned otherwise our gig is up and are stock tanks. The entire shale industry is a monumental scam, no wonder we kept all accountants they can cook the books and make us look healthy.

We need to have a complete economic post-audit for the period 2012-2018 of each of the shale plays, Eagle Ford, Bakken, Delaware and Niobrara. Audit of each play to include cumulative revenues less cumulative expenditures (CAPEX & OPEX). Everyone knows that each play, on a 2012-2018 cumulative cash flow basis, is in the red. The magnitude of the 2012-2018 cumulative loss for each play needs to be shared with employees (the remaining ones), shareholders (owners) and the analysts (public disclosure purposes for publicly traded companies).

The fart doesn't make money. Cash flow positive does not equate profit.

I hear you. Linkedin, ziprecruiter, indeed could help you.

Good thing the “Fart” is beginning to make money.The real question that needs to be answered is will the “Fart” actually make as much money as we think it’ll make???

Thread regarding ConocoPhillips layoffs

The unconventional powerhouse that isn’t COP

6 replies (most recent on top)

Post a reply