So market rumor was OXY (a smaller company than COP) was able to offer a deal to buy $33 billion company. It took me 3 days to digest this information. How is that COP a bigger company selling assets and a smaller company able to offer to buy an entire company?
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Just announced sale of U.K. North Sea interests following this weeks announcement of sale of Timor Sea Greater Sunrise interests. Great exit opportunities or do we need the money or both? Our COP world just keeps shrinking.
You don't just need to be bigger to buy a smaller rival. What's more important is to be a better run company. These times belong to the companies that are run lean and mean. And ones that are faster at making decisions and are agile.
OXY doesn’t have a B’ville to subsidize
Oxy has a plan and ambitions. CoP has arrogance and a middle-manager training ground/daycare. Oh, and those SPIRIT values! You know, Sniveling, Pompous, Incestuous, Ridiculous, id--tic Turd-polishers.
Sell assets during good times. Buy during downturns, and think beyond the next quarter.
Some companies actually invest to grow their assets.
It shouldn’t take three days to digest this information. This is nothing more than a very clear indication of the dysfunction that exists within COP. After all, it’s not just what we do, it’s how we do it.