Were you surprised by the Shell Permian acquisition? Why?
12 replies (most recent on top)
Numerous (happy) Shell employees used to work for ConocoPhillips. We trained them, but could not keep them. They will be reporting about our poisonous PowerPoint problems.
Didn’t Reuters break this story in July? I heard by word of mouth going back to June. Not surprised, no, but definitely concerned. Tier 1 Wolfcamp acreage has been drilled up. Going to take some R&D to unlock any value in other targets, and quick before stewpot targets are drained or watered out.
Clearly, there’s no need for internal exploration people.
RL is so proud of his workforce he should take a reduction in pay and give every employee a big raise.
sounds like he's following the tim leach permian plan. he started out good but it didn't end so well for him.
So we sold the Canadian and North Sea assets a few years ago to get into the Permian?
How exactly is this making us an industry leader and showing innovation?
Oh right…that’s all just BS.
Nothing surprises me any more. The only surprise will be if that 10 year plan Ryan is so proud of actually comes to fruition. I am willing to bet my VCIP for the next 10 years that we’ll come up short.
CoP spends billions on acquisitions, but I am making less than I was in 2017. No mystery where priorities lie, is there?
$20B in a single basin is surprising, yes.
Not surprised, but definitely concerned this could adversely impact our stock buyback strategy.
Of course not. The ELT and Ryan have been on the lookout to buy other companies and assets since realizing we can’t find $% on our own. Layoff more star to save more $$ to keep buying stuff that others already found and sucked dry.
SPIRIT values y’all!
No... because we've been hoarding for a big purchase like this. Oxy has also been a rumor, but doubtful. Nice that RL can spend this kind of money while they squabble over a fraction of a percent of a yearly raise!