Noble here...got word today that our DJ assets will be part of a new Rocky Mountain BU. Seems like they ya’ll are more interested in the Rockies than most thought...
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ABU is the unit in the best location, hands down, but they don’t need expats. And they are not for sale.
@1jtx+16JQGSCY This reply is the single most accurate thing I have ever seen posted on this website. - former Atlas employee
Why is it that every BU that is in a nice place to live gets sold?
Wow, that was oddly specific.
Is that Joe Geagea guy Type A or just Type A$$hole?
Noble is being treated just like Atlas. Next they’ll send 3-5 Type A personalities from each department to attempt to assimilate. Noblites will be taught the Chevron Way, the tenets, and the vision statement. Chevron will put safety personnel on each rig and in the office to make sure people use the “trailing hand technique.” Noblites will think it’s strange at first, but they’ll adapt. For some reason, costs will go up and performance will deteriorate. In earnings calls, executives will say that the acquisition and integration of Noble is going “well” but nothing more. The resources will look good on Chevron’s reserve estimates, so executives will pat themselves on the back (and pay themselves) for buying low. RMBU performance will continue to deteriorate, so Chevron will send a high-pot VP to turn the RMBU ship around. He/she will introduce the cost-saving-flavor-of-the-month (Lean, Six Sigma, Factory, PI, etc.). A round of layoffs will send the hi-pot Chevroids back to Houston or to exotic international BUs. Noblites will remember the good old days. They’ll reminisce about how they could get more work done without a program on their computer telling them to stretch their face and blink. Noblites will still feel accomplished that they adapted to a completely different culture, but it was a lot of work. They can’t do that again. Rumors will circulate that the BU will go up for sale. But those are just rumors. Chevron wouldn’t do this to the employees they care so much about! Rumors will circulate that Chevron, still heavy with cash, is considering another acquisition. That makes more sense to optimistic RMBU employees. RMBU employees will be excited that they could be the ones to assimilate the acquisition. They fantasize about teaching Chevron process and shepherding the acquisition into a new level of D&I that no other oil company can boast. New VP, warm and friendly. Is this the 5th one in 10 years? Where did time go?
It’s a random Thursday in December. The holiday party last week was the best ever. Snow falls outside onto the Christmas decorations. You’re sitting down, eating dinner with your family. An email from the VP pops up on your phone. RMBU is up for sale.
I'll believe it when I see it, but hoping this is true, and that they hold onto and further develop the asset.
Not very sophisticated train of thought. The existing Noble Rocky Mountain DJ group just becomes a named BU in the company and not folded into something else. Plug-and-play. Does not mean you won't be rationalized. Chevron sold off its assets in what they called their Rocky group two years ago. Chevron will be determining if what you have is any better than what they previously owned.
NBL, what eas the severance package you all recieved?
Put SJV heads on the firing line, as an asset DJ is valuable extension to CVX MCBU. More economic scale, then SJV offered as federated BU from MCBU. Neither played well together in same family.
Sounds like we got the same email at Chevron that "NBL here" did stating only NBL will be in the managed staff reductions since we just will be just finishing our substantial layoffs. I thought the RK Mt BU was to spin it off...could be wrong.
You won't interview, you will lineup for a firing squad like the rest of us are doing. Just be sure to duck!!
NBL here. We had a round of furloughs when stuff went south, and then a re-org with layoffs just before the acquisition announcement. Today’s email stated most of us would be coming over at first, and then decisions on jobs would be made by the end of Oct. I assume we’ll be interviewing for our positions similar to you.
The sale theory doesn’t make much sense. Who is buying anything in the next few years that isn’t a fire sale? So many bargains out there, and not many buyers. Who is buying DJ assets? All the regional players are severely hurting. Also From what I’ve seen, NBL returns in the DJ are solid, even at low prices.
Could go either way. Chevron might be thinking there is overlooked unconditional potential in the Rockies or it might be an isolated BU for sale after the merger. I would guess that latter, but lord knows I have been wrong before.
@dpd is right. They want to sell it once they get a great price. Now it's sh– market so no point and don't want to scare Noble people or spook any buyers. Easy production boost and no capex.
Jay Johnson's says if we can't do it on scale, we don't want that sh–. So no movement on it until we get someone on the hook. Then we sell you off. Tata b!tches. Get it?
Hi Noble, did u all have some layoffs already, if so, how big were they?
I’m hearing certain expiration projects around the Rockies are still full go...
Mike Wirth is from Colorado. Anadarko was there. Nobel is. Nuf said. RMBU will probably be merged with SJV towards SJV's end of life in 10 years.
It’s certainly got more potential than some of our existing BUs...
Keeping it separated makes it easier to transition y’all over and then to sell without disrupting other BU’s.