RE:Free Cash
That is what led to the decline of COS. Ran well unitl management outsourced to an Exxon affiliate! A minor side operation of a major oil conglomerate does not get much management attention and gets charged for the huge operations overhead. None of the oil majors have a clue about running an oil sands unit. Best off when run locally by people who learned from experience. Nothing Exxon does gives them any expertise in this. COS is a MINING operation and a specialized complex processing plant operating in extremely cold winter conditions. It has neither oil wells nor refineries (though some similarity in upgrader processing plant to refineries). Adding any operation to a large conglomerate does not improve it.