ConocoPhillips was integrated before they spun off the downstream to create Phillips66 a few years back to become a pure play E&P,
Really not a smart move in my opinion unless the price of oil stabilizes above $60 a barrel, then their printing dollars. Not being as diversified has hurt them with the collapse of oil prices,
This should be a boost to the stock price to the mid $50s.
They have excellent shale acreages in numerous locations in North America if they can only pay down their debt,
Well positioned for a recovery if it should come in 2017,
the problem is that later this year break even for fracking is headed to about $40@barrel so volumes are going up pressuring prices down. second after 2020—the volumes on electric cars go up by millions of cars annually. by the early 2023 or so when conoco phillips wants to bring their new wells online in alaska—the price of oil will likely not justify production—unless they can be profitable at $35@barrel or so.