Thread regarding ExxonMobil Corp. layoffs

Listen to Imperial quarterly reports. Breakeven costs at Kearl have been reduced, so breakevens are better than in 2016. Imperial may be required to debook Kearl depending on how oil prices play out for remainder of year. But I can add those reserves back faster than once prices respond higher. The big issue will be spreads and transportation

https://www.bloombergquint.com/markets/exxon-20-of-its-oil-gas-reserves-threatened-by-low-prices

You of course understand that it is not these people that "don't comprehend oil economics" that decided to continue putting resources in a w_t dream that is called Kearl, right?
You of course understand that it was not these people that bought XTO and it was not these people sitting in the same meetings with the mega a_hole that thought he knew enough to save the State Department that did not say anything about the impeding stupidity?
You of course understand that it was not these people that were approving the masterpiece of a Chemicals growth plan based on supermarket plastic bags, to be then rewarded with a contact exec sit right?

@1fdj+16iT6wLH It's everything. If oil in a field costs $60 a barrel to produce that you can't shut down because it took 8 years to bring to production, plug in costs are untenable with no guarantee that you could ever bring it back online, and oil now costs $40 a barrel, and it's a 10 billion barrel oil field, you're worth $40B less than if oil were $80 a barrel. That isn't accounting tricks, that's layoffs and no 401k for you, plus a whole lot of whining by people who don't comprehend oil economics or the oil industry.

Lol. This is an accounting game with very little impact. Who cares?

Kearl (about 4 billion barrels) has been in proved and out of proved reserves several times based on an annual calculation. It was removed in 2016 and added back a couple years later. Now it may be removed again for 2020 but probably added back by 2022.