We may be in trouble
4 replies (most recent on top)
To the long reply. So since you are probably a manager, why don't you take a little responsibility for where the company is and quit talking crap to the guy after he stated the obviouse. His response is spot on, and last I checked you all are selling assets like it's a fire sale. He may not be COP management material but that is a good thing per the performance over the last several years. I
Cop is on a huge downhill slide. I give it 3-5 years until the lights go off for the company.
This is why I sold all of my conocophillips stock.
So how does Surmont fit this equation?
This is why you are not in Management and neither a management material. The company is mopping up cash to buy or develop more juicy assets that costs less to develop in this low oil price era. Moreso we also have some non operated assets and even shares in companies (the recent divestment of some North American assets and the acquisition of corporate shares as part of the payment). In cases where corporate shares are acquired, it is even cheaper for the company in that we do not need to hire disposable assets like you. Remember that the company has substantial assets and the debts owed is just a fraction of the value of assets. Without good management practice, how could we have grown so big? Most upstream oil companies are undergoing the challenge of low oil prices (ExxonMobil and Saudi Aramco included) and COP is no exception.