- ConocoPhillips is in the cat-bird seat when it comes to benefiting from the current broken global oil & gas supply chain as a result of Putin's horrific war-of-choice in Ukraine.
- COP's big Permian acquisitions (Concho & Shell's assets) at the bottom of the cycle due to covid-19 boosted its low-cost short-cycle shale reserves.
- Meantime, COP picked up an additional 10% working interest in its Australian LNG assets while the global demand for LNG is booming.
- Given the current dynamics of reduced Russian exports, Brent crude could easily reach $140-$150 before the current crisis is over. And COP's stock could reach the same level.
For further details see:
ConocoPhillips: A Lot To Like