COP: Re-Allocating Gulf of Mexico CAPEX to Best Shale Plays

This is from COP's current corporate presentation. Because Burlington Resources is "buried" in COP, it is difficult to find the net acreage that BR/COP has in the Bakken. It is extensive; BR has been there "forever" and it must have significant legacy holdings.

If you go to slide 16 of COP's Credit Suisse Vertical Tour 2010, you will see that COP is re-allocating its Gulf of Mexico exploration capital to the "best shale plays": Eagle Ford (Texas), North Barnett (Texas), and Bakken (ND).

2010 exploration capital was $1.3 billion.

Sometime ago I opined that companies operating in the gulf would move their attention to the Bakken. 

One other thought: in light of MRO's splitting off refinery operations from E&P, I wonder if COP, XOM, CVX could do the same?

• COP: huge refiner.
• XOM: huge in chemicals from oil.
• CVX: large NG exposure (I don't understand why it bought into the Marcellus last year)

Just saying.