I like atomics optimism , but at the same time Freeport are exiting some big oil positions (oil exploration has been cut to the bone globally) and as has been stated, there will be some bargain assets to be had now and going forward. But who is PVD going to farm in to drill these bargains, the real dilemma as I see it is what will management do with the money that is coming.
PVD had a lot riding on Mazagan and high confidence in a good outcome (in what was a good deal for PVD with Freeport), it didn't work out and then the oil crunch happened. Damon has his work cut out to find a good outcome here, he will be a legend IMO if he can.
GLTAH
Freeport sells O&G assets, page-6
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