https://finance.yahoo.com/news/exxon-seeks-sell-conventional-permian-164845148.html
6 replies (most recent on top)
Spot on about Kathy. Track record of staying 5 to 6 years, squeezing costs beyond acceptable to boost her stock. When she leaves, the trashed company unravels leaving chaos in its wake. Little wonder the CFO of Diagio who followed KM lasted just three years. Who would want to inherit that mess?
The CBP has been in run to failure mode since 2020. The will be lucky to get anything of significance for it. XOM knows that which is why they are continuing to roll out new policies there.
XOM will also loose all EOR experience with this sell when it goes thru. Eventually all the easy oil will be gone in the midland and Delaware basins. EOR will be necessary at some point when you run out of space to keep punching holes to keep up with well declines.
Kathy's trying to keep the stock price artificially high by selling everything she can and giving that money to the investors. So, no surprise this is for sale. If I were an investor I'd dump XOM from my portfolio pronto.
Let’s see pioneer going on. Last qtr coming. I see a Charlie Foxtrot on the horizon.
Not exactly a surprise
Should be fun bringing the new owners on and selling that.