I realize hindsight is 20/20 but wouldn't it have been far easier to spinoff a company with only non-conventional assets; let the ELT members choose which companies to go with and not destroy ConocoPhillips in the process. Would have saved hundreds of jobs. Look at how well P66 is doing.
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What will be left oilsands?
What a joke.
Why not just spin-off (sale, merge...) the whole company and get it over with. There is nothing unique about COP. There is no obvious or subtle reason for anyone to invest in this company. There are better pure play E&P growth companies. There are better value, dividend paying E&P companies. Why invest in COP? COP lost sight that the purpose of a business is to make money. They now claim they have had an eureka moment and it is they, the all-knowing ELT, that have made this discovery. Just end it all now. The shale plays have been disappointing (back to that making money thing). The company has no production growth opportunities other than shale plays. Just end it now.
Nope, spin off the shale and use the $’s to retune COP.