Looking for a reference on ConcoPhillips, page-9

COP initially had their entire deepwater exploration portfolio up for sale as a package. Looks like they are considering selling of bits and pieces if the price is right, not going to fire sell anything though. From memory CN or GR said that they wanted an early DOC so the could take over operatorship and move Senegal into their development portfolio.

Take a look at their 2016 Operating Plan conference call. Here's a link to the transcript if interested

http://www.conocophillips.com/inves...Operating Plan Deck Transcript-2015-12-10.pdf

In the Q&A at the end they give a little clarity on their deepwater exit. Here is a question that was asked for quick reference.


Blake Fernandez - Scotia Howard Weil - Analyst Folks, good morning. I appreciate the details in the presentation.
First question was on deepwater. I was hoping you could remind us of what if any booked reserves and production you may have there and maybe just an update on the process to potentially exit.

Matt Fox - ConocoPhillips - EVP, Exploration and Production So Blake, we don't have any reserves booked associated with the deepwater assets that we're divesting. These are exploration assets. Some are in appraisal but we don't have reserves booked yet because the projects are not approved.
The process that we're in we're running in basically two phases. We have a phase where we're engaging potential buyers that might be interested in buying the full package and then we anticipate perhaps moving to a second phase where we sell the package as individual elements. So we're really in the early stages of that process just now.


Also, this from their 2016 first quarter earnings call. Might be some truth to the whispers of Total sniffing around.

http://www.conocophillips.com/inves...Documents/COP-Transcript-2016-04-28T16_00.pdf

Scott Hanold - RBC Capital Markets - Analyst Thanks. I just got a couple of clarifications. First, you all obviously talked about the asset sales a little bit but just to clarify and when you say you have seen some softness in the market, is that specifically related to your deepwater package you have out for sale? And if I could add on to that question, Al, you obviously talked about the success in Senegal. Is Senegal, our presence in Senegal, still within the deepwater package of stuff you would look to sell?

Ryan Lance - ConocoPhillips - Chairman and CEO I mean we are seeing softness really across the board, Scott. We have said before we are just not going to fire sell anything and we are prepared to continue to appraise and develop if we need to. We still have some things on the market in Indonesia. We still have our deepwater portfolio in pieces on the market as well. So we are still trying to progress that but again, we know what our hold value is and we know what value it would take to sell the assets.

Al Hirshberg - ConocoPhillips - EVP, Production, Drilling and Projects With regard to Senegal, we have had a lot of success there finding a new play in the area and now we've drilled. We are on our fourth appraisal wells right now so we have drilled three appraisal wells, two drill stem tests now on our fourth appraisal well and we have clearly proved up high-quality reservoirs with good continuity across a large area. And so there has been quite a bit of interest in that asset and we will see what happens there. But we have to continue an appraisal program. It is going to take some more appraisal wells before that one is done but we will continue doing whatever appraisal work we need to do to establish the value of that asset.