Why don't we just sell off the entire thing?

This is sad. Why not not just sell off entire MCBU as there is no longer any significant holdings to support or justify retaining as a BU.

Considering Bakken & Eagle Ford are also money black holes with no possibility of reaching breakeven, it seems the entire Lwr 48 is commercially a house of cards.

Throw in Surmont & Alaska into the discussion, the future for COP in North America is bleak with no significant commercial growth opportunities.

Employees are bored now. Employees are frustrated now. Employees are mentally rotting now.

COP's response to employees and shareholders:

Downsizing, consisting of asset sales and layoffs, will continue and continue and continue....

You are absolutely right, @Okl75d2-yhw, this is a sad state of things. With no growth prospects and the management's stubborn reliance on asset sales and layoffs, ConocoPhillips does not seem to have much of the future.

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Take a look at the cumulative lease operating statement-based cumulative cash flow for Eagle Ford during the period 2012-2017. It is negative. Take a look at the current 2017 Eagle Ford performance: IBIRT less CAPEX & IBIRT less financial DD&A or IBIT. Not a pretty picture. Bakken, Permian-Delaware & Niobrara are worse. Need to consider farm-out to premier shale players EOG, Pioneer, Concho Resources for upfront cash boot and retain 5-10 pct over-ride. Value-adding production & reserves at no CAPEX outlay. The shale plays have destroyed COP shareholder value during the period 2012-2017.

3 - 6 months payback or break even cost with 2 - 5 year production life makes the Eagle Ford play very attractive and profitable. We have found that on some of the older wells that have dropped down to less than 100 bpd re-entering the well lateral perforating between previous perforated intervals and re-fraccing brings the well back to near new original production.

Lifting costs mean nothing due to reduced OPEX starting 2015 and contractor costs. Full cycle break even costs on other hand is totally different game. Most L48 lifting costs are very attractive but that is only operated costs.

ConocoPhillips Eagle Ford has the lowest lifting cost in America. How is Eagle Ford a black hole? Eagle Ford is growing like crazy right now. You have no idea what you are talking about.

The beatings will continue until morale improves........these jokers in the C-level don't know how to lead only manage.

I thought L48 was the future of COP? If there is no hope there than this company will be done?

What lucrative asset do they have? Alaska? Surmont is a joke - just pay people money to do nothing

Thread regarding ConocoPhillips layoffs

Why don't we just sell off the entire thing?

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