If you are legitimate Software Engineer or Data Scientist, Chevron might keep you. Those are strategic focus areas for us and we don’t have enough talent internally.
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Good comments except that outside of the Eastern Med, there isn't any significant value in International. Noble's West Africa acreage, outside of the Bioko Island methanol plant, is a marginal area without significant exploration upside and modest production. I would doubt it would rank very high in Chevron's seriatum. Colombia is a large dose of wishful thinking right now. Eastern Canada is likely the same.
If travel is safe, I will be hiking in South America. If travel is not safe, you can find me skiing in Utah. Chevron does not want me and I dont want them & that's ok.
All I know is this was a mercy k–ling. If you ever looked under the hood at our debt obligations vs revenue, it was pretty obvious that then next couple years we’re gonna be a struggle, and future debt obligations due were gonna bankrupt us. There was no way out of the Permian flopping.
In six months Chevron will take control of Noble assets. A small contingent of Noble U.S. onshore staff will be kept by Chevron to ensure a smooth enough transition. A larger contingent of Noble international staff will be kept to keep everything running, because international is where all of the value is. After about a year or so of working for Chevron they will decide who fits in and who does not, and who adds value and who does not. Then they will quietly lay off those they don't want.
If you want to know why this happened it is because upper management was risk adverse and was sold on the idea that the unconventional resource plays had a high "risk-free" ROR. Just put your money down and you get back all your money, plus a nice return. This "risk-free" investment philosophy ended the life of a 100 year old company. Please remember that there is no such thing as a free lunch. There are risks in all investments and you need to understand them and mitigate as much as possible before investing.
Executives just flipped a bird at everyone below the VP level. We're throwing in the towel, boys!
Welcome to the jungle.
Disgruntling all employees carrying out a re-org just to have 80% of those folks severed and do it again.
pulling the plug on Oracle and running SAP on Azure Cloud. Or maybe skiing.
I’ll be in the grand caymans
I'll be here: