Statement:
ConocoPhillips has notified employees, partners and regulators that it is evaluating a potential sale of its Norway business and Teesside asset after receiving an unsolicited offer. This evaluation is consistent with the company's disciplined strategy to optimize and high-grade its portfolio. If we do not receive an offer that meets the company's expectations for value, ConocoPhillips will retain the assets.
What are your thoughts?
Make a deal. Any deal. Just make a deal. Reward activity not results. Nothing changes.
They exited the UK, so they can and probably will exit from Norway. Late life, declining, and high cost plays aren’t really assets that COP would like to keep far longer than necessary. It will be a good cash injection to fund an already expensive Willow, for instance, or service the current debt.
@aa nope. An unsolicited offer has already been received. The assets are old and on hige decline. Better to sell now when prices are high.
Sounds far-fetched. Norway is 5% of the company. Would be a huge change. But anything is possible