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ConocoPhillips (COP) agrees to sell its Algerian business unit to Indonesia's Pertamina for...

ConocoPhillips (COP) agrees to sell its Algerian business unit to Indonesia's Pertamina for $1.75B. COP holds interests in three major onshore oil fields; 2012 net production from the fields averaged 11K boe/day through October. COP's 2012-13 asset disposition program so far has yielded proceeds of $2.1B. COP +0.8% premarket.
Comments (2)
  • rjj1960
    , contributor
    Comments (1361) | Send Message
     
    I wonder what COP will do with all the asset sale proceeds that have taken place over the last 2 years? They can't be raising the dividend again? What about an acquisition? Maybe WLL,KOG,OAS could be in the cards?
    18 Dec 2012, 08:51 AM Reply Like
  • swampfox1
    , contributor
    Comments (46) | Send Message
     
    My $ is on KOG.
    18 Dec 2012, 12:19 PM Reply Like
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