ConocoPhillips unveiled plans to sell an additional $5 billion to $10 billion in non-core assets over the next two years and said it will use the proceeds to fund its share buyback and capital expenditure programs.
The move, announced at the company's analyst meeting in New York, had been expected by some analysts. Chief Executive Jim Mulva told analysts the company plans to sell a total of $12 billion to $17 billion in assets in a three-year period.
Wednesday, March 23, 2011
Investors Only: COP to Sell $5 - $10 Billion in Non-Core Assets. Proceeds For Stock Buyback and CAPEX.
Link here.
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