Anyone hearing any news from the wells R4 selection event that's in progress? What jobs are they discussing so far? Are 25s pushing down 24s and so on?
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We fell a– backwards into the Permian and that is what saved this company. Nothing that all the geo-types did.
I can say the same for geo-types. How many were at ETC? How many PSG 26+? Can’t imagine the monstrous payroll they ran.
And all for what? The great exploration sucesses that the company has had? When was the last time we found something useful?
Chevron (courtesy of DP) built a monstrous Drilling Department at the expense of engineers and geo-types, which is now (and for the foreseeable future) largely unneeded. Plus we're picking up experienced drilling engineers from Noble. Expect substantial cuts and demotions, like what's happened to the geo-type population the last few years. Chevron, quietly giving up on the notion of 'most admired' in a declining industry, is transforming into a sustained (Permian-Australia-Tengiz) production company, not a growth company, so unless oil goes to $100, don't expect any significant hiring in the next decade. People best positioned for this are the production engineers.
I don’t know about wells but there are leaks elsewhere in the system. People are getting placed in lower level jobs where they have no business being.