{"Within our portfolio, (deepwater exploration) doesn't look like an opportunity that competes for capital," Chief Financial Officer Jeff Sheets said in an interview.
Conoco would also consider selling the deepwater prospects it is currently appraising, Sheets said.}
Interesting.
Two things. They say deepwater exploration, not appraisal, but secondly they appear to be prepared to sell deepwater prospects it is currently appraising, read Senegal.
What I would like to know, if they can make money in Senegal at $40.- pb, what other oil production is cheaper for them to keep? If they want oil reserves, they will have to keep going. On the other hand, could they be swallowed up by a M & A?
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