Thread regarding Noble Energy Inc. layoffs

That’s all folks

From low 20s to selling out at low 10s all in one year. Execs will make their millions while others are left wondering what’s next. Lloyd turned over this morning.

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Post ID: @OP+162dP2yr

26 replies (most recent on top)

No deal is good if oil isnt even needed by 2030

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Post ID: @1qic+162dP2yr

Noble always did know how to buy high and sell low. They proved it again.

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Post ID: @rif+162dP2yr

Ha! +1 for being rid of current HOU management. I’ve had 3 supervisors and 7 managers in the last year. Let that sink in. All of it driven through HOU grand vision. It’s been the height of dysfunctional.

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Post ID: @itt+162dP2yr

The majority of problems I’ve encountered in the DJ were due to constant/haphazard reorgs and half assed implementation of “visions” from Houston. The level of ignorance and incompetence from management has been stunning. Good riddance.

There is a reason why all manner of efficiencies improve the further you you are from TX.

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Post ID: @awu+162dP2yr

Still has to be approved by regulatory and also by the shareholders. Shareholders will reject this current offer I suspect...

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Post ID: @usr+162dP2yr

To those who make it over to CVX it will be a great opportunity. A much larger company with more quality assets. Good luck to all. I will be happy owning CVX stock.

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Post ID: @gfb+162dP2yr

Time to chill. Next STIP and LTIP will be decided by Chevron

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Post ID: @ine+162dP2yr

To the DJ employee that commented previously:

It is wishful thinking to place the blame of your problems on the Houston office.

Good luck

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Post ID: @ust+162dP2yr

DS, BS, JL, and KF taking this to the bank and retirement. All other VPs will get a 2 year payout and the boot. Chevron don’t want our management team.

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Post ID: @zzk+162dP2yr

No way that Israel forces sale of Leviathan or Tamar. Delek doesn’t have the pockets. Can’t have the government run it so Chevron will have control of the destiny. I think they will get the deals done with Egypt and other Countries for LNG. Their market reach is way better than old Samedan ran buy old BP management that was ousted.

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Post ID: @eyy+162dP2yr

Asked a friend that worked for Noble in the Marcellus and is currently with Chevron her opinion. She said Chevron has great benefits (better than Noble)., and great culture. She said everything positive until chevron sold Appalachia assets.

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Post ID: @rci+162dP2yr

Referring to the Houston office on highway 249

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Post ID: @hmt+162dP2yr

Appreciate the Chevron comments. But whats the 249 office? Sorry for the dumb question from the Colorado field office. I for one am happy to work for Chevron!

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Post ID: @uih+162dP2yr

One of the really interesting questions is whether or not Israel will allow CVX to take over Noble's share of Tamar and Leviathan. The Israelis have been looking to turf Noble out and may use this as an excuse for a forced sale, possibly to Delek.

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Post ID: @ruv+162dP2yr

Chevron really wants to to divest the most profitable US asset?

All I know is as an employee in the DJ, I couldn’t be more thrilled with this development. Houston’s incompetence and meddling was the single biggest hurdle here.

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Post ID: @wks+162dP2yr

Chevron here. 249 office is done. We will have a lot of empty seats downtown after our layoffs. Expect at least half the people working in that office to be gone as well. Make sure you are good at the arts and charts. Managers love it over here. The field based people will be safe for awhile. Colorado is a goner when we find a buyer.

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Post ID: @ucj+162dP2yr

What about the office on 249? Will it be shutdown?

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Post ID: @epg+162dP2yr

As a CVX Retiree, I can say this ... this was inevitable. CVX needs to grow, but not through drill bit. This is a good play but not sure if best time to pull the chord... time will tell. As for working at CVX, expect significant layoffs. CVX is going through significant upheaval this year: layoffs that ar projected to be 15 to 20%, across the board; culture change called “Functional Transformation”, code word by Management Consultants BCG as, new name same idea give me money; Uncertainty by the ranks how all this plays out. Layoffs are expected to be complete by end October, but with this acquisition, I expect that to be pushed back to mid 2021. CVX has few projects in the works because Gorgon, Wheatstone, EGTL and TCO has s—ed the money out due to poor management and leadership, resulting in cost overruns (significant) and significant schedule busts. If you arr a FE then dont expect anything. If you are a geologists or geophysicists, start looking. If you are in ops then you maybe ok. If you are a woman you got a job for life (hint: part of the Functional Transformation). Current package is 3 weeks every year, one month severance notice and if lucky management asks you to stay a few more months. Good luck. CVX is a good company to work for and retire, but dont expect much recognition ... they have the “poppy syndrome”.

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Post ID: @tsf+162dP2yr

There is a fate worse than working for Chevron, that is, working for Oxy.

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Post ID: @mbr+162dP2yr

Per @mr_skilling on Twitter, DS is due a $28.9 million payday due to change of control. A tale as old as time.

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Post ID: @plc+162dP2yr

10 bucks a share. How pathetic is that.

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Post ID: @xbl+162dP2yr

I am a IT contractor who was hired by Noble to help with some "systems migration work" over the next few years but they never told me where or why.....now i get it.

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Post ID: @rqc+162dP2yr

Would rather work at Uber during a COVID pandemic then become a Chevroid, no offsense.
Any deats on what a Chevron buyout package looks like?

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Post ID: @fyk+162dP2yr

A Chevron deal for all of Noble has been announced for anyone in the dark Or just waking up.

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Post ID: @maz+162dP2yr

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