- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
ConocoPhillips in Talks to Buy Concho Resources
Posted on 10/14/20 at 6:44 am
Posted on 10/14/20 at 6:44 am
quote:
ConocoPhillips is in talks to acquire rival Concho Resources Inc., according to people familiar with the matter, as one of America’s largest independent oil explorers looks to make a bold bet on shale during an historic industry downturn.
The companies may announce a deal in the next few weeks, said the people, who asked to not be identified because the matter isn’t public. Shares of Concho declined 1.3% in New York trading Tuesday, giving the Midland, Texas-based company a market value of $8.7 billion.
LINK
4
Posted on 10/14/20 at 7:54 am to castorinho
Hmm ConocoPhillips is already struggling, not sure this helps them. Kind of like when Oxy bought Anadarko.
Posted on 10/14/20 at 1:25 pm to CajunTiger78
Conoco needs acreage in the Permian and this deal does that. They are heavy in the Bakken and Eagleford, which they need to get out of.
I am guessing the plan is to acquire CXO, then become profitable through "efficiency savings." Basically run all the acreage with just COP employees, bye bye CXO employees.
Both companies trade way over where the SMOG-debt/shares says they should.
I am curious what bank is representing CXO and without a doubt is the one who leaked this info hoping to run the stock price up.
I am expecting to see a lot more consolidations in the coming months. companies can not survive the current environment on their own.
I am guessing the plan is to acquire CXO, then become profitable through "efficiency savings." Basically run all the acreage with just COP employees, bye bye CXO employees.
Both companies trade way over where the SMOG-debt/shares says they should.
I am curious what bank is representing CXO and without a doubt is the one who leaked this info hoping to run the stock price up.
I am expecting to see a lot more consolidations in the coming months. companies can not survive the current environment on their own.
Posted on 10/14/20 at 2:47 pm to 8thyearsenior
quote:
Eagleford, which they need to get out of.
Get out of their crown jewel that prints money?
Posted on 10/14/20 at 2:56 pm to 8thyearsenior
COP employees run all of CXO's assets in the Permian? LOL good luck w/ that. They have a tiny position in the Permian and cant just all the sudden pick up and run the show.
Posted on 10/16/20 at 5:18 pm to CajunTiger78
quote:
Hmm ConocoPhillips is already struggling, not sure this helps them. Kind of like when Oxy bought Anadarko.
Except Oxy wasn’t struggling when they bought Anadarko. In fact, Oxy’s balance sheet was looking damn good. Then oooff!
Posted on 10/19/20 at 10:33 am to tigerbaiter1033
This got done
I expect all this to come from headcount. Is there room to squeeze service companies any more? CXO may run the Permian with COP folks going home, but someone is going home to achieve those savings.
Did Tim Leach really say their decline rate is 40% for their proven reserves? Ouch.
quote:
ConocoPhillips and Concho expect to capture $500 million of annual cost and capital savings by 2022
I expect all this to come from headcount. Is there room to squeeze service companies any more? CXO may run the Permian with COP folks going home, but someone is going home to achieve those savings.
Did Tim Leach really say their decline rate is 40% for their proven reserves? Ouch.
Posted on 10/19/20 at 11:50 am to ragincajun03
quote:
quote:
Hmm ConocoPhillips is already struggling, not sure this helps them. Kind of like when Oxy bought Anadarko.
Except Oxy wasn’t struggling when they bought Anadarko. In fact, Oxy’s balance sheet was looking damn good. Then oooff!
Another big difference is that Oxy paid about $55B for APC and Conoco is going more bite-sized with a $9.7B merger.
Ryan Lance won't have to run to the Oracle of Omaha for a pay-day loan like Vicky.
This post was edited on 10/19/20 at 11:52 am
Posted on 10/20/20 at 12:06 am to castorinho
Pioneer / Parsley reported by WSJ to be in deal discussions. Recall Pioneer’s CEO Scott Sheffield is the father of Parsley’s previous CEO and current Chairman Bryan Sheffield. Both Companies do have a ton of acreage overlap and potential synergies .... but the father / son aspect makes this very conflicting. Crazy
Posted on 10/20/20 at 9:35 am to castorinho
So some smart people think oil may not be dead after all...interesting
Posted on 10/20/20 at 12:28 pm to castorinho
This is a long play hoping that after the election stuff calms down, a covid vaccine is discovered and WTI oil goes back to $65.00 a barrel by the summer of 2021.
Posted on 10/20/20 at 1:43 pm to The Torch
quote:
This is a long play hoping that after the election stuff calms down, a covid vaccine is discovered and WTI oil goes back to $65.00 a barrel by the summer of 2021.
That’s not very long for a “long play”.
Posted on 10/20/20 at 2:54 pm to The Torch
quote:
WTI oil goes back to $65.00 a barrel by the summer of 2021.
From your lips to God’s ears, sir!
Posted on 10/20/20 at 3:05 pm to The Torch
Cop not a good stock symbol. They are trying to defund them.
Posted on 10/20/20 at 3:07 pm to ragincajun03
quote:
WTI oil goes back to $65.00 a barrel by the summer of 2021.
From your lips to God’s ears, sir!
Yes please.
Posted on 10/20/20 at 3:09 pm to Enfuego
quote:
Scott Sheffield
A damn good CEO. Loved working for him for the 7ish years I was with PXD.
Posted on 10/20/20 at 3:14 pm to The Torch
quote:
WTI oil goes back to $65.00 a barrel by the summer of 2021
Just need to get planes back in the air. Then oil industries will rebound. Diesel took a small hit, gasoline took a hit but is rebounding, kerosene (Jet fuel) market is still way down
Posted on 10/20/20 at 3:28 pm to TigerCrude
These companies don't need high crude oil prices. They can't stay disciplined when it's up there.
They just need a stable price in the 50-60 range
They just need a stable price in the 50-60 range
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News