Thread regarding Apache Corp. layoffs

What the hell is going on?

Something's up. Everyone I speak to seems to feel it. Closed doors, distant and directionless management whose plans shift day to day. All of which, historically, has been an ill omen for all involved.

Nothing is working, activity is low, direction seems gone. Feels like we have a much bigger fundamental corporate problem than is being or has been addressed to date, and the solving of that problem will involve some extraordinarily painful medicine, which many feel we are about to take.

Anyone have any insight?

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Post ID: @OP+16Z5s8VD

11 replies (most recent on top)

Greed- it's a k–ler! There is no more integrity to this company.

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Post ID: @tfdp+16Z5s8VD

If you are banking on Suriname all you need are an OBO reservoir, production, and drilling engineer (possibly). You could keep North Sea and Egyptian Assets and eliminate much of the overhead in Houston. If possible I would sell North Sea (Liability & Exposure) and Focus my effort on Egypt which is the best of the North Sea, Permian, and Egyptian Assets. Harder to get money out. They are trapped with VPs busy micromanaging rod/tubing economics and schedules along with their overstaffed planning groups. Management needs to be looking for the next big opportunity and leaving field level work to those that know best what needs to be done!

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Post ID: @9olc+16Z5s8VD

JC and SR are milking this company, shades of Enron! Why is our stock down 30% in the last few days while the sector is barely down 10%? Something's coming folks. Hide and watch. I'm bailing

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Post ID: @8lfe+16Z5s8VD

It'll be from anywhere as minor as getting out of unconventional Permian, to fire-selling all U.S. assets. The big focus in Suriname, and that's years away at minimum. Costs need to come down further, because this current demand environment will likely persist a while. So Egypt and North Sea will be leaned on aggressively for their revenue to carry us until Suriname comes online. Apache might be saying goodbye to the Permian altogether.

But that's just my wild guess.

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Post ID: @7sqk+16Z5s8VD

I agree, something needs to happen quickly. Apache went from being a top, well-respected company to an industry laughing stock in 10 years. Apache is consistently one step behind the times and mindlessly chases the latest trends. Unfortunately, the stock price and poor shareholders are suffering. I hope someone scoops in a writes a check for the company but I am afraid there isn't enough quality to offset all of the junk the company is holding. They need to package the legacy holdings and sell them to someone that can actually make money on them first and, hopefully, that is the plan.

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Post ID: @6fus+16Z5s8VD

Whatever it is, I hope it happens sooner rather than later.

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Post ID: @5uas+16Z5s8VD

Permian sale or something similarly large feels right. I'm not certain what the answer is, but its not onshore US, as far as management's actions seem to indicate.

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Post ID: @3zwj+16Z5s8VD

I tell you the truth but you cant handle the truth. The truth is........

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Post ID: @3cav+16Z5s8VD

Working from home so idk about closed doors, but I think they're working on more small divestitures

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Post ID: @1vvk+16Z5s8VD

Closed doors? Dude feed us, we need something. It's been f—ing boring lately.

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Post ID: @jxb+16Z5s8VD

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