Spent 7 years at Concho in NM, best job I ever had In Terms of pay and benefits. Made it to cop but after a bit had a chance at a smaller private company and took it.
Where did it all go wrong for us?
My opinion the buyout of RSP, paid high premium for them and not sure we got the return from that and the failure of the dominator project doomed us. I think leach plan was to consolidate the Permian and be the leading company but a bad deal and a disaster in the dominator, the name alone seems arrogant. We got big and d-mb, those projects have been done before and the results were not good why we did it I have no idea it was a huge risk. Then lower oil prices our fate was sealed, leach had to sell and seems he’s running his plan with ConocoPhillips but little smarter buying up the Permian for cheaper prices now.
We lost a good company in concho though in the process, we lost benefits, we lost pto, we lost stock, had to pay insurance premiums.
I guess I’m still bitter about it, I enjoyed working there and didn’t want to work for someone else. We were such a smart and prideful company, how we blew it that bad boggles my mind.
Curious what some others have to say about it, surely leach didn’t want to go out the way it did. Hope we’ve all landed on our feet somewhere even if it’s cop, which seems like a decent outfit, but it will never be concho in its prime or anywhere close I feel.