Davy Boy The data below might explain why COP were so desperate...

Davy Boy

The data below might explain why COP were so desperate to sell SNE. Since the sale of SNE which COP needed to declare in the December 2016 Annual Report, they have sold their Canadian tar sand asset for if I remember properly $13.3B, so in my opinion COP have achieved what they needed to do which is get their company financial situation in order (reduce debt to satisfy their bankers), and not go bankrupt. In my opinion having achieved that essential requirement, they now have to clean up the mess with FAR, or squash the life out of FAR.

The Shale Oil Industry hasn’t really made money even at $100 a barrel oil prices. The chart below shows the FREE CASH FLOW of the top U.S. Shale Oil & Gas producers. You will notice that their combined FREE CASH FLOW, which is Operating Cash minus Capital Expenditures has been in the RED since 2009: