COP made an across the board decision in 2016 to exit from all deep water interests worldwide to concentrate on cheaper easy access Permian type plays.
Desperate?
Yes Kimbo , very desperate. COP had debt of 28 Billion dollars and an oil price that was no where it needed to be to service that debt . Hence the sell off . I imagine that if they could of sold their tar sands project first for 13 Billion dollars, they may well of kept SNE .
COP was in trouble financially and every dollar they could get, helped stave of the banks.
Its all history and hopefully we can all move forward after the PE decision is made, whichever way it may go.
FAR Price at posting:
3.8¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)