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DewDiligence

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DewDiligence

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Re: DewDiligence post# 9840

Friday, 10/30/2015 8:58:10 PM

Friday, October 30, 2015 8:58:10 PM

Post# of 29408
COP exiting deepwater business:

http://finance.yahoo.com/news/conocophillips-posts-quarterly-loss-crude-111247649.html

On a conference call with analysts, executives said Conoco planned to exit all deepwater exploration by 2017 as other projects win out in the budgeting process. Currently, it has deepwater operations in the Gulf of Mexico and offshore Senegal, Angola and Canada. Conoco would also consider selling the deepwater prospects it is appraising…

…Conoco said it would further cut its 2015 capital budget, to $10.2 billion from $11.0 billion.

This is the second cut to 2015 cap-ex; the original plan called for $16B (#msg-111833052).

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

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