Heard this today from Ryan. Are you kidding me? Are. You. Kidding. Me.??? How many years of $80 oil will we need to pay that back?
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Wow jbf, such venom. Not everyone is in Finance you know. Relax it will all be over soon.
The Geologists and Engineers caused the debts by poor judgement and analysis leading to underperforming wells. However COP is still ahead of the game. Assets are over 80 billion dollars and market capitalization is over 53 billion dollars and can rise exponentially if stock price goes up. That is why the reorg is necessary to let go dead woods and realign business ops. Worst case scenario would be to dispose some assets to pay down debts.
Where the f*** have you been? Did you just wake up? Do you not read quarterly reports? Do you not know how to read a balance sheet? Wow, you deserve to be laid off being so uninformed.