ConocoPhillips (COP) sells its Cedar Creek Anticline properties to Denbury Resources (DNR) for...

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Veritas1010 Comments (673)
 
What is COP going to do with all the asset sales besides pay high dividends???

Does anyone know why COP might be divesting domestic properties when its E&P focus is now more squarely on the US/NA marketplace?

Just curious folks with conference/earning call coming...

disc.: long COP
15 Jan, 08:41 AM Reply Like

Daniel Niño Comments (13)
 
They are using the cash to invest in their most profitable/high grow potential assets (they will also use it to pay out dividends of course), which are the US shale plays.

The company states it on their website:

“This disposition represents further optimization of our portfolio. The transaction will allow us to focus our investments in North Dakota and Montana on our significant Bakken unconventional position,”

http://bit.ly/SElHFw
15 Jan, 11:20 AM Reply Like

Veritas1010 Comments (673)
 
Thank you Daniel.
16 Jan, 05:10 PM Reply Like