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ConocoPhillips Message Board

  • rouge1warrior rouge1warrior May 7, 2012 1:11 PM Flag

    Talk of CVX / COP merger

    There is talk of CVX & COP merger on CVX's board...heard anything here?

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    • cumbarse, you do know that MORE water is used in watering golf courses than is used in frac'ing don't you? Or did "Texas Monthly" or the New York Times not tell you about the REAL TRUTH?

    • loser. do some scientific research instead of reading crappola newspaper articles and watching that hack job movie gasland

    • COP has $28.4 Billion in debt... CVX has less than $10 Billion, for which in this market, nooo one wants to gain that much debt... not even the Chinese, PTR and SNP both have over $20 Billion in debt... Shell is trying to consumate the marriage between RDS.A and RDS.B, thus they're not interested either... BP has enough problems... TOT would be a good fit, to buy COP, yet with Europe's demise, lowering TOT's valuation, that marriage won't happen... who else is left?... ExxonMobil?... XOM has their sights on another company... have a nice day...

    • Fracking earthquakes might be real. But we are taliking tremors of 1 to 2 (maybe slightly more) on the richtor scale. Those are not causing issues.

      There have been ZERO proven incidents of drinking water pollution due to fracking. Even recent gov't study found the problem universally was well completion issues COMPLETELY unrelated to fracking.

      Most of the water in fracking is recycled.

      And noone anywhere in any study has ever found evidence of leakage thu fracturing.

      You might think that you know what happens when fracking comes to town. But do you even know how long fracking has been used? Can you cite one proven (not claimed) case where fracking polluted drinking water? Do you know how far "way below" the water table is? (Hint, if you want to keep the number something you can count just on your fingers and toes the unit needs to be miles or kilometers not feet or yards or even leagues.

      So I won't worry about sparing you, please spare me from your ignorant assumptions and guesses.

    • I think if you talked to the decision makers of both COP and XOM (and got the real scoop) both would admit the timing and price of their purchases were wrong. Both could have waited longer and did better. (I am not saying COP did their deal based on nat gas of $15 per million).

      But that is hindsight being 20:20. Also it assumes that those assets would have still been there at natgas of $2.

      I don't think many people 3+ years ago saw natgas going as low as it has. But then again, that doesn't make those deals bad, only less good than theoretically possible.

    • Yep, there's no problem with Rick Perry robbing the agriculture and community of water for his buddies in fracking during a massive draught! To say Texas is the model for any other state is tantamount to ignorance.

    • Fracking has been around for a long time and it will be around a long time from now. New report out today that fracking in South Texas (Eagle Ford) added $25 billion to the local economy. South Texas is in a "drilling boom." No problems from fracking there.

    • If shale gas earthquakes, water pollution, draining water supplies from cities, leakage thru fractures, etc leads to bans on fracking, does that not make COP conventional ng wells (that they overpaid for) valuable? Or are they old fields? Personally, I think the public is being railroaded by fracking lobby, and the citizens know what's happening to their wells wherever there "fracking comes to town" within 2 miles, their wells are polluted, this has yet to play out in favor of the Fracking Mafia, imo. I've heard the argument of it's way below the water table, so spare me it again.

    • Everyone laughed at XOM as well for their 2009 acquisition of (I believe either EOG or XTO) for their significant domestic natgas assets.

      XOM did this when the price of natgas had already fallen.

      XOM doesn't usually make major mistakes and was making a play on the future, just as I believe COP did.

      Chief

    • Few people understood the Burlinton Resourse acquisition by COP. The common thought was that COP overpaid because the SPOT price of NG was in the $15 range. The economics of the purchase was based on a number less than one third that price. The value of the purchase is yet to be realized, but it will be in the near future. It will turn out to be THE legacy project of COP. The vast prime tracts of acreages that came with the deal is just now being developed (oil & gas). I know about this acquisition because I was there.

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