I thought we were doing good. What’s going on?
3 replies (most recent on top)
Its funny you think Oxy is professional enough to do due diligence.
Oxy’s CEO doesn’t have a great track record on acquisitions and investments. Oxy’s share price has delivered negative returns over her tenure. She almost bankrupted the company with the debt they took on to buy Anadarko. They just took on billions of additional debt to buy Crownrock as the economy is heading into recession and oil prices are ready to tank. Why did Ecopetrol back out of the deal to buy into Crownrock? There must be something there that doesn’t look good. I hope Oxy didn’t eff up on their due diligence with Crownrock like they did with the APC liabilities.
What made you think that? Can't find oil unless you buy it, radioactive because of your debt, confused whether you are an O&G company or a carbon capture franchise. Hope you got a good deal with Ecopetrol on the ultra deep water Colombia well. At APC, Komodo drilling costs were 180-300 million dollars (5 years ago!!). Hope it isn't gas...