Barclays Energy Conference Takeaways: Key Takeaways from the Americas-based Major Oil Companies (XOM, CVX, COP, HES, MUR)

September 11, 2012 5:17 PM EDT Send to a Friend
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Barclays Energy Conference Takeaways: Key Takeaways from the Americas-based Major Oil Companies

Analyst, Paul Y. Cheng, said, "Super-majors ExxonMobil (NYSE: XOM) and Chevron (NYSE: CVX) offered strategic consistency, downplaying interest in a major acquisition, and a view that current industry trends such as MLP formation and increased mid-continent refining capacity are either unsustainable or insignificant for companies of their size. Similarly, Canada-based SU reaffirmed its focus on consistent oil sands growth despite recent wide and volatile Canadian crude differentials, citing a natural hedge with its downstream segment and secure pipeline capacity beyond 2015. Meanwhile, large cap E&P focused ConocoPhillips (NYSE: COP), Hess (NYSE: HES), and Murphy Oil (NYSE: MUR) remain in transition. Both COP and HES will supplement funding shortfalls with asset sales over the next several years, while the potential separation of MUR's retail segment remains unclear under new CEO Steve Cosse."


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