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ConocoPhillips Message Board

  • oilgas66 oilgas66 May 7, 1998 4:27 PM Flag

    Important Update - Current Issues

    I recently spoke with Phillips about the future
    success of the company. With out compromising any
    confidentiality the following information was

    Stock Buy Back Program:
    Approved $500million by the
    end of 1998. 1st quarter only $85million executed.
    This means only 17% of the allotment was purchased;
    therefore, increasing the remainder before the end of the
    year. Hold your stock. This buying pressure will drive
    the price up.

    Russia with Love:
    Phillips is in negotiations with top oil/gas companies in
    Russia. Interested in the Caspian Sea fields. Hopefully
    optimistic but declined comments on details: dates, %, $,
    amounts, etc� So what does this mean to Phillips, well
    point of reference - ELF (France oil/gas company)
    signed an joint venture partnership with one of Russia�s
    oil/gas companies and ELF�s stock jumped 14% on same day
    speculation. Largest natural reserves in the

    Still interested in partner, but clarified not as
    urgent as before. Laughed when inquired about Williams
    Companies, but declined comment. "Currently the only
    interest we have in WMB is that they keep their pipeline
    on-line. We use them extensively for transportation ".
    Expects good profitability in NGL 98, 99,

    Grew 60% in the last 5 years, and feels that is a good
    start. Will continue with that strategy and would
    consider acquisitions. Declined to offer

    Increase in Efficiency:
    Although Phillips has lower
    revenue, they increased profits by decreased operating
    costs. This

    Norway Production
    Equal to less than 3% of overall company, anticipating
    a 20% increase on the price per barrel. This is
    part of Phillips effort within the Global Oil/Gas
    community to maintain a profitable market price per barrel.

    GO! Phillips!


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    • I agree, this company has good potential, but
      this board is weak.

      I am impressed with your
      input, it offers insight to some current issues. Thanks
      for addressing the WMB rumor. I don�t have much of a
      history with "P" but would like to build some. Look
      forward to following your postings.


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