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iPhone Cases The first issue common to any oil company is the size of the long term debt or total debt versus revenue stream and, of course, the second issue is the sustainability of the dividends.Today's news is about these very important issues.II The News.On March 29, 2017, ConocoPhillips agreed to sell to Cenovus Energy (NYSE:CVE) an interest in an oil sands partnership as well as most of its Western Canada Deep Basin gas assets for a combined $13.3 billion, allowing the oil and gas company to reduce its debt.[COP] agreed to sell an interest in an oil sands partnership as well as most of its Western Canada Deep Basin gas assets for a combined $13.3 billion, allowing the oil and gas company to reduce its debt and double its repurchase program to $6 billion.Conoco is selling its 50% non operated interest in the Foster Creek Christina Lake oil sands partnership and the gas assets to Cenovus Energy. In return, the Houston based company will get $10.6 billion in cash and 208 million Cenovus shares valued at $2.7 billion. Conoco will also get contingent payments if Canadian crude prices hit certain levels.With the sale, the company will be able to reduce its debt to $20 billion, providing more leeway to return capital to shareholders.If you want a detail review of the transaction ConocoPhillips released a March 29, 2017 presentation that you can read iPhone Cases..
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