To be generous, COP has a break even of $45. So at today's price for every barrel of oil sold COP looses $7.50. A loss of $6 billion a year is a loss of $6 billion a year... The $45 break even will increase as the service costs increase due to "supply and demand". The service companies cannot continue at a loss.
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Can't wait until price gets back to 86 somIncan sell
Cop has a breakeven of 45 a barrel
No business plan for under $60 oil yesterday, today or tomorrow. The creative accounting practices have come to light and will put further pressure on the finances of the company.
Yep, but it is still way way way down from the mid 80s. It will no be making any new 52 wk or all-time highs in the near future. Even if we get bought the stock will not recover that much ground.
Its over 40 today!
Exxon wants to buy some companies ..
It does look like the oil market is stabilizing - let's see what happens through to the end of April first though.
XOM needs to replace reserves
Just a dead cat bounce.