ConocoPhillips Layoffs

Topics regarding layoffs at ConocoPhillips

The Next Downturn Assets to Sell???

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 

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Post ID: @12dfXOFu

Permian Basin Conventional Assets are next

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 

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Post ID: @11YYwzSh

Austin Chalk

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 

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Post ID: @11ivLIfi

Is Chevron looking to buy ConocoPhillips?

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

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Post ID: @11r5KT3J

Believe it or not?

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 

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Post ID: @11fcoKiB

The problem is our compensation system

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 

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Post ID: @11dGWf4n

Delays in Alaska?

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 

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Post ID: @119sQNlG

It’s What We Do

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 

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Post ID: @117J55sz

Morale

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?

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Post ID: @10ILTy4v

Exploration Strikes Again!

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?

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Post ID: @10kQcdh7

Whiners

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 

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Post ID: @10wzsTPq

Recent severance/layoff packages

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 

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Post ID: @10PHC5KN

Exploration in Alaska... what could go wrong?

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 

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Post ID: @101kjQJh

Stock Price?

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.

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Post ID: @ZPmOeS6

More trouble on the horizon for COP employees

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 

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Post ID: @ZSB1VsI

A's hire A's, B's hire C's

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 

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Post ID: @ZwqCmQ3

Experience is too expensive for ConocoPhillips

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 

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Post ID: @ZRynHi5

Biggest Disappointments Since The Split

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 

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Post ID: @ZNruqok

CONOCO's Management Spot On

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 

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Post ID: @Zh5Y88C

Response to “CONOCO's Management Spot On”

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 

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Post ID: @ZlOpt9R

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