Sunday, October 25, 2009

Investing: BR (COP)


Facts about the COP spin-off of PSX, April 30, 2012. First day of trading for PSX, May 1, 2012.

July 30, 2015: 2Q15 earnings call, one mention of the Bakken -- We're now running 13 rigs, with six in the Eagle Ford, four in the Bakken (agrees with this post) and three in the Permian. That's down from 32 rigs at the end of 2014 and we believe this is the right pace of activity in this environment. We'll reassess these levels later in the year, taking into consideration market conditions, pilot test information and the price outlook.

April 8, 2015: An excerpt from COP's analysts' day transcript regarding the Bakken was posted here.

June 11, 2014: analyst raises guidance, target moved from $82 to $90/share

January 14, 2014: Five reasons to hold COP for the long haul.

July 23, 2013: PSX IPO -- raging success: hugely bullish for PSX shareholders (read "Disclaimer" here). At SeekingAlpha:
Phillips 66 Partners (PSXP) began trading today on the NYSE and by all indications the IPO was a rousing success. The MLP opened at $28.98, well above the initial pricing of $23. An AP report this morning said PSXP raised $377.8 million from its initial public offering of stock. These proceeds were above expectations and is bullish for Phillips 66 (PSX).
July 12, 2013: for investors only -- Motley Fool asks the question: which major oil company returns the most cash to shareholders? Worth a read. Spoiler: XOM. Along that line there is a nice article on SeekingAlpha on COP's dividend: this has been quite a story for long-term COP investors.

June 17, 2013: folks are starting to get bullish on COP. A talking head on CNBC made COP his one stock pick of the day. Motley Fool provides three reasons to consider COP a) natural gas; b) dividend/stock buyback; and, c) stateside expansion.

April 1, 2013: how PSX shareholders will benefit from MLP, SeekingAlpha.

November 25, 2012: COP to sells its minority interest in the Caspian Sea.

May 8, 2012: COP announces it will sell all Nigerian (all African?) assets

April 24, 2012: Facts about the COP spin-off of PSX, April 30, 2012. First day of trading for PSX, May 1, 2012.

April 9, 2012: COP issues interim 1Q12 update.

April 4, 2012: COP - PSX spin-off effective April 16, 2012; one share PSX for every two shares COP.

March 6, 2012: parent company (COP) to sell $10 billion in assets in 2012. The company's spin-off, Phillips 66, the downstream component, will begin trading "when-issued on April 12, 2012.

October 7, 2011: COP to split into two companies

April 19, 2011: Investopedia on COP.
Conoco Phillips is making a large bet on the development of various oil sands projects in Canada over the next decade as the company looks to grow production. The company estimates that production from these projects will quadruple by the end of this decade.

Conoco Phillips has approximately one million acres of properties in Alberta with bitumen deposits and has interests in many different oil sands projects. The company reported just over 50,000 barrels of oil equivalent (BOE) per day of production in 2010. 

COP spun off PSX on May 1, 2012. 

BR is a subsidiary of COP.

The company history of BR.
Meridian Oil Company, who is credited with pioneering horizontal drilling, was a subsidiary of Burlington Resources at the time.

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