COP are Exiting Deep-water exploration, they state the cost of supply is too high in the current environment, for them to turn around and takeover one of the JV partners is fanciful stuff, oil is low 30's, world growth is low and going lower? And your talking takeovers?
COP are sellers of assets, $2.3 billion worth this year alone. Not buyers. They will prove up what they can and market it to Tier 1 companies, but guess what? There isn't much interest in their deep water assets at the moment, well not at prices they want.
I laugh so hard when you talk about takeovers @80-90 dollar oil prices.When are we going to see those levels again? No one is paying any where near that for assets. Keep these discussions real people.
Takeover target, page-52
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