Thread regarding Devon Energy Corp. layoffs

Devon deserves exactly what it is getting

having done business with CHK AND DEVON for decades and having been a long time oil producer in 8 states, my view is Devon has followed a similar path in operation style to CHK. Wasting money at every juncture, horrible high cost operations in the field, right hand doesn't know what left hand is doing, or care, engineers (many with little experience) in charge of fields and regions that not only don't have access to profit and loss reports, but could not understand them if they did have access. this is first hand reporting. Devon deserves exactly what it is getting. Many of your own co-workers agree, sadly. Look into the future. Do any of you really see a Devon Energy alive and well in say...5 years?

Originally posted by @11YSwwpJ-1qys.

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Post ID: @OP+11ZLAVuw

5 replies (most recent on top)

But, but, but, at least we aren't Chesapeake. 67 cents a share.

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Post ID: @1kll+11ZLAVuw

The original poster must have felt the need to repeat the same message from another thread- which seems to miss the mark. Also- looks like there's a clear lack of understanding of debt maturities and debt ratios within Devon and the sector. If you look at the published plans for debt repayments, this is a company that clearly has a healthy balance sheet. This company clearly has a bad track record - without a doubt. However, depending on how the year ends, it also doesn't look like a company struggling to execute.

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Post ID: @1onl+11ZLAVuw

"What exactly is Devon getting?? Not sure if any of these posters are following the market or the company closely. The only thing lagging is stock price- which, by the way, is a mirror image of several similar competitors. Releases have been good lately and if the company follows through on what they've told Wall Street it'll continue to be more attractive." Original post by @11YSwwpJ-1hug

The only thing lagging is the stock price? Are you kidding me? This is a problem - MBA grads running around thinking they understand markets. Devon has massive debt and years of extravagant spending. Devon has piss poor management. Devon is divesting and laying off. We are not growing, we are literally dying a slow death. Investors are not going to buy DVN because we are not growing. Investors can earn a much higher return with less volatility in many other companies. The silver fox said it himself, more money is leaving O&G then ever before. Yes, Devon deserves exactly what it is getting.

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Post ID: @1hwp+11ZLAVuw

Watched Devon for several years deflect questions in their quarterly Q&A about entry into the Mississippi Lime in northern OK. Then, all of a sudden, we’re in and so excited, bending to the whims of the analysts’ hype. We received all D&C information (including costs) and production data. The area was (and is) an abject failure, which was evident very early in the process. Quarterly Q&A’s addressed the area as excellent and even added the Woodford as window dressing. Fast forward a few years and the area is not even addressed. The area is sold ($200M) including all leasehold, wells and infrastructure, equating to a massive loss (even factoring in the Chinese slaughter). Not a peep (or question) about success or failure: just swept under the carpet. Then they spend $2B to buy into an area where costs are much higher and spew the same mantra. So yes, objectively Devon is pathetically managed and panders to the market instead of pursuing profitable Oil and Gas, assuming they have that capacity. Your assessment is spot on.

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Post ID: @xdq+11ZLAVuw

Some may agree with that statement, but five years ago I didn’t think Devon would last another five years, so.............guess what? We both might be wrong.

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Post ID: @dpl+11ZLAVuw

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