Another example of COP conservative culture. The Willow reservoir is composed of shoreface, wave-dominated deltaic sands that are discontinuous. Ask any geologist and they’ll tell you there will never be confidence about individual sand layers. This... — read more
Topics regarding layoffs at ConocoPhillips
Saw this and reminded me of what we do... we layoff employees after promising layoffs are done... then we “reduce the size” of our ELT, granting two members 36 month severance... — read more
What a milestone! And we don't even have to thank a hurricane this time!
Why is it threads with comments from Bartlesville about Houston get removed and comments from Houston about Bartlesville don't? Looks like administrators are prejudiced.
My understanding from prior layoff rounds was that COP was offering severance pay equal to 3 weeks salary per year of service. Does this still hold true? Any accounts of HQ/BUs accommodating voluntary severance package request on a case by case... — read more
Remaining value in Prudhoe Bay is a net abandonment liability. Alyeska Pipeline is starved for throughput volumes. Why are we still there? Maybe no where else to go.
It has been some time since the last layoffs. Have most people in your group moved on? What is the morale like on your team? Are people productive, happy, and upbeat about the future?
Conocophillips should close Bartlesville campus and consolidate to Houston. Oil prices are going to go down a lot more while we try to get a fare trade agreement with China. To stay profitable we need to close Bartlesville and eliminate duplicate... — read more
For all the whiners complaining about our management making hard, painful decisions on layoffs, keep in mind that our severance expense process was world class, and much in keeping with our “People”... — read more
Continuing drop in oil prices means it's time to close Bartlesville. ConocoPhillips has disposed of almost all its high cost high risk assets. Closing Bartlesville is the next logical streamlining opportunity. Continued consolidation to to... — read more
Or rather, strikes out again! This time with the public announcement that the Austin Chalk is not living up to the hype they originally made it out to be, though is anyone really surprised?
Let’s see: the BU that gave us a billion dollar plus loss in the Chukchi Sea, from the current BU leader who gave us APLNG, from the same exploration leaders who denigrated unconventionals while they pushed “snuggle” Exploration and multiple billions... — read more
ConocoPhillips has purchased Caelus Energy's Alaska mid-sized Nuna prospect at very attractive price leveraging it's existing infrastructure to make it possible to evaluate and develop at profitable cost. This is anattractive fence line type... — read more
Oil prices keep falling, which can mean only one thing for us - more layoffs. Not looking forward to discovering just how many it'll be this time... Oil prices dip on signs of slowing US demand, economic concerns... — read more
Sadly it is because company doesn't want to keep experienced people. Lay off all the experienced people because they are supposedly too expensive. And then watch all the remaining skilled people become disaffected and walk away. Hire monkeys if you... — read more
Crude has seen a small rally recently and many of our competitors stock have followed. Why do we continue to lag? Seems to be stuck in that $60 range.
I know some of these are old, but here goes. (1) Dividend Cut after promising no dividend cut a month earlier (2) Zero focus on all costs immediately after split. Yes, ancient history, but highlights how naive leadership was when they should have... — read more
I count at least 6 geologists who have left the Permian team in the last 2 years for other opportunities. (And that's not counting the many good Permian geologists they've laid off!) Now there is an external posting for a Permian Geologist. They... — read more
So there is a saying in the business world that "A's hire A's and B's hire C's". Meaning that A level people want to work with other A level people because their focus is on doing the best job, while B level people don't want to work with A or B... — read more
October is comming be ready for more change!
Using our current price forecast to grade our “leadership” is ignorant. Real leaders must think long-term, but also plan for both good and bad times. In this, our leaders have failed us, planning for good times during high prices, and reacting... — read more
Conoco's managements long term oil price prediction and consequential business changes have been very accurate and shrewd and are now beginning to pay off. Management has put the company into an extremely good position. Selling off marginal assets... — read more
ConocoPhillips became an independent E&P company May 1, 2012. Some facts: FACT: MARKET CAP: 2012-2019 7-year CAGR of 0.5 percent per year (essentially dead money) May 1, 2012: $68.6 Billion May 1, 2019: $70.8 Billion FACT: DIVIDEND: Decreased 54... — read more
Alaska is the most important part of COP?
ConocoPhillips became an independent E MARKET CAP: 2012-2019 7-year CAGR of 1.0 percent per year May 1, 2012: $68.6 Billion May 1, 2019: $73.7 Billion (Compound Annual Growth Rate: 1.2 percent, Poor, poor shareholder) DIVIDEND: Decreased 54 percent... — read more
People have been mentioning May as the month when we can expect more layoffs at COP. Has that been confirmed or debunked? Haven't heard much one way or another.
First Chevron and now Oxy... Do I hear 40 billion? Going... Going...
I seen a BR truck in Lysite today. Any rumors on the Moneta Divide project???
If you had a son or daughter about to go to college, would you encourage, or discourage them in planning for a career in the oil industry? I may not recommend against engineering or geoscience, but think I’d push them away from focusing in petro... — read more
How much “value” or savings have our repeated RIFs generated? What are the hidden costs? In our case with multiple rounds the hidden costs are even larger IMHO. https://www.cbsnews.com/news/the-hidden-costs-of-layoffs/ — read more
Share Price (closing price): May 1, 2012: $56.51 per share (market closing price) April 15, 2018: $66.34 per share (2.3 percent calculated average annualized growth rate) Production (MBOEPD): 2012 Average: 1527 MBOEPD 1st-Half 2018 Average: 1,216... — read more
So market rumor was OXY (a smaller company than COP) was able to offer a deal to buy $33 billion company. It took me 3 days to digest this information. How is that COP a bigger company selling assets and a smaller company able to offer to buy an... — read more