COP Looking To Exit The Gulf Of Mexico -- July 20, 2022

Reuters:

• COP looking to sell its stake in the Ursa platform and Princess subsea well in the Gulf of Mexico;
• it would mark COP's exit from deepwater energy production off the US Gulf coast.

It will be interesting to "see" the rest of the story.  

A year ago:

From the linked about one year ago: 

ConocoPhillips is set to become the second-largest oil and gas producer in the contiguous U.S. following its $9.5 billion purchase of Royal Dutch Shell PLC’s assets in the Permian Basin.

The company’s acquisition of 225,000 net acres in West Texas is a big bet that drilling in the busiest American oil field will underpin returns for a decade. It is also the latest example of how competition to consolidate is reshuffling the pecking order among top U.S. shale drillers.

ConocoPhillips has been among the biggest spenders in the recent consolidation wave. It closed a $9.7 billion purchase of Permian oil producer Concho Resources Inc. in January, before disclosing its plans to buy Shell assets.

From April 26, 2022, oilprice, Goldman Sachs: top five shale plays for 2022, remember, GS still rules Wall Street:

• Hess
• EOG
• Pioneer
• COP
• Kosmos Energy