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DewDiligence

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DewDiligence

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Re: semi_infinite post# 9787

Tuesday, 03/17/2015 4:32:59 PM

Tuesday, March 17, 2015 4:32:59 PM

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COP slashes cap-ex (no surprise):

http://www.wsj.com/articles/conoco-cuts-long-term-capital-spending-plan-1426597503

ConocoPhillips said it plans to curb capital spending through 2017 to reflect expectations that commodities prices will remain volatile. The oil-and-gas company said in a news release ahead of its analyst and investor meeting Tuesday in New York that its three-year investment plan reduces annual capital expenditures to about $11.5 billion, versus the company’s previous plan of approximately $16 billion.

COP probably regrets becoming a pure upstream company.

“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”

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