In your opinion based on your position / experience?
Topics regarding layoffs at ConocoPhillips
More importantly, Permian.
Incompetent managers, supervisors, and employees. No wonder Armstrong Oil had to find the new fields within and outside COP's long held Alaskan acreage for them. Such an embarrassment. A 5 person company continually whipping the a– of an... — read more
At Burlington Resources we had something (crudely) like this before we were acquired (and it was dropped by ConocoPhillips). Can you imagine how transformational this might have been for us if pursued? Maybe we would not have wasted $10B in... — read more
What a sham this company of ours is! Every data point is altered to present the best picture possible. Investor presentations, for instance, are totally unreliable but reinforce that everything we are doing is right. We are a self-licking ice cream... — read more
Get ready.... Poor rate of return wells.
ConocoPhillips have done the following amount in asset sales since 2016: 2016 Sold $1.3 Billion of Assets 2017 Sold $13.9 Billion of Assets 2018 Sold $1 Billion of Assets 2019 YTD Sold $2.9 Billon of Assets (not including Australia... — read more
Layoffs coming soon!
Share any updates you may have about ConocoPhillips Layoffs 2020? Any news or rumors?
Any truth to rumour ABU east might follow the west and sell up.
The long list of assets sold in the last few years will get longer. In a move that is long overdue, all of the neglected conventional assets in the Permian Basin will be sold. It has been clear that this is the path we've been on as there has not... — read more
The great sell off continues.
We recently announced we are switching to Fidelity from Vanguard and now we are switching from Aetna to Blue Cross and Blue Shield. Both those are used by Chevron. Are we switching to match them or is this just a coincidence..... Hmmmmm
I know this is two years old, but, on the other hand, it doesn’t get old. https://www.houstonchronicle.com/business/article/Conoco-investors-reject-exec-pay-in-advisory-vote-11151120.php
How is the Austin Chalk play in LA working out. I heard it was COPs next “big thing”. Or will they drill a few wells, be indecisive and take forever to decide what to do, over spend, and sell at a loss so some small independent can go figure it out?... — read more
This is an exact quote from current COP job listings: “Employees across the globe focus on fulfilling our core SPIRIT Values of safety, people, integrity, responsibility, innovation and teamwork. And we apply the characteristics that define... — read more
The problem is our compensation system: we reward results rather than long-term value creation; we reward smooth talkers and great Power-Pointers rather than folks with insight; We skip Post-audits to identify root causes of failures and penalize... — read more
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
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