Thread regarding Noble Energy Inc. layoffs

Crude Oil is Over $120/BBL

What can you say about such a lost opportunity? Chevron acquired Noble in October 2020. The price of crude oil was $40/BBL. It has only been a year and a half and the price of oil has gone up 300%. Since the close date the price of oil has increased relentlessly. Selling Noble at the absolute bottom has to go down in history as one of the worst decisions by a CEO.

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Post ID: @OP+1fD3JoFu

6 replies (most recent on top)

I unloaded all stock and options when price was still above $90, otherwise I would have jumped out a window because of these clowns

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Post ID: @1Zvyv+1fD3JoFu

They were too busy drinking each other’s koolaid. Yes men congratulating each other in a circle. When everyone thinks and acts the same this is what you get!

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Post ID: @7vzs+1fD3JoFu

No doubt that ds was a horrible CEO but the board should have recognized the continued hiring of senior people from BP.

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Post ID: @7nez+1fD3JoFu

Not everyone in the corporate suite was complicit. Arnie was too busy checking out the babes to be complicit.

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Post ID: @2fas+1fD3JoFu

Don’t forget it wasn’t just DS. The entire c-suite was complicit and the BOD was sold a story they went along with and approved. DS was done, wanted a big pay day and this was his opportunity. BS, JL, and KF also. Pay the top and bail. That was the plan. Gutless.

Acquire & sell Marcellus, pay too much for the Eagle Ford then the Permian, then say F it and sell the entire company at the absolute bottom.

One of the biggest stories in the history of O&G when talking destruction of shareholder value.

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Post ID: @1hxt+1fD3JoFu

No doubt you'll recall Dave was responsible for the Marcellus buy-in too. Paid a big price, then watched as the market crashed and bailed with a big loss. He certainly had a great track record of screwing up. Lots of people lost their jobs in the process. Still, he got paid $millions. Ain't America great?!

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Post ID: @1nti+1fD3JoFu

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