RE:Anybody Expecting A COP Counteroffer For Surmont ?MrZtranformers173......think about it for a second and you'll get your answer. Do you really think that Suncor would have left that little loophole wideopen & out there AFTER announcing their deal with Total AND after what Teck did with their remaining interest in FH? No....i think not. Suncor won't have the wool pulled over their heads (if it was ever pulled in the first place!) and be blindsided a second time. You can fully confident & bet the farm that Suncor has ALREADY consulted ConocoP mgmt with regards to their intentions & right of R for Surmont PRIOR to announcing their deal with Total.
With that said, this could go one of two ways. One, the deal between Total & SU goes through as normal with no hitch and no interference from COP. And two, AND i'm assuming many things here, that COP's non interference in Surmont will come at a price for Suncor. An understanding that Suncor, at some later date in the not to distant future, buys out ConocoP's interest as well at a more than "FAIR" market price. Because as with all the other great Amercian energy giants, they also want out, while saving face & a few bucks, out of the dirty Canadian oil sands business completely.
So imho, the odds are 0% COP excercises that right......AND if by some chance they do, it will end up in the same exact situation as when Total excercised their rights on FH.
GLTA