Plan to divest $4.5b to $6b. Any guess on what asset will get sold? My prediction is GOM.
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It seems everyone has a manager title in LCV organization. Curious what is the ratio of managers to direct report!
Why didn’t Oxy just stay clear of DAC or carbon capture? It’s not like they are a major player in the energy business. They should just stick to what they do well which is producing low cost oil and making smart international deals in a very efficient way to stand out from the majors who are slow performers. Oxy, stay in your lane.
@1deb+1q1y51a3, I think it will turn out to be a bad decision, but no one will be held accountable. Also, if all of these assets turn out to be poor decisions, who will want to buy them?
If DAC turns out to be a bad business decision then some changes at the top are warranted.
The investor call said it would be Domestic.. Maybe they’re wising up and dreaming they will sell DAC. The new money drain.
I thought that was part of they are just buying, like not so good acreage. Paying twice as much as they did when bought Delaware hot spots
It might be Algeria now that a new plan is in place for anyone interested in buying it. The other guess is GOM. They never wanted either Algeria or GOM in the first place.
It is going to be something that makes a dent in the debt. If you listen to the interview of Vikki at the above post she says we should be back where we are today on debt in 1-3 years. She mentions the divesting will start up in 2024. Should be a fun new year.
Rockies are a political minefield.... Might be a good time to sell.
It will not be the Rockies, that would be a huge mistake in terms of FCF, TSPB, etc.
Rockies office?