What would it take for EM to succeed? Beyond this current bleep of high stock prices? Sustainable business 10, 20, 40 years out? Are we on the right path? Will the LCS business truly position EM to be a successful business in the 2030s and 40s?
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Replace Executives with lower cost BTC.
The Executives think we are overpaid and BTC can do same for cheaper.
We think the Executives are overpaid and BTC can do better for cheaper.
Our new CFO has been compensated more than $100,000 per day for first 10 months. That is over $2 Million per month. $12,500 per hour. $208 per minute. 1 day of her pay could hire a team of BTC accountants for a whole year.
Let the Company be run by hipo @ssl1ckers, Red Sticker slvts and fu--------rs.
Eliminate middle managers. Eradicating the toxic managers. Test sls and see if they really have what it takes to be a sls other than boot licking.
Within the next 5 years, the next CEO will be begging to be nationalized.
If there's WWIII going on, it is highly possible.
Keep the hopes up, OP.
Will the LCS business truly position EM to be a successful business in the 2030s and 40s?
Not likely. Already bloated with PowerPoint Jockeys and brown nosers. Duplicating other existing organizations.
More rainbow flags will do the trick for sure.
“What would it take for EM to succeed?”
It’s over for EM and the industry in general. If they’re not in investing for growth now, they never will.
Anyone with transferable skills and less than ten years in O&G should get out asap.
Sell up and shut it down.
Exxon needs to buy some small companies and operate them completely separately.
Like a Major League Baseball team having minor league teams.
Instead of PIPing employees off the payroll, send them to the minor league company. Best of the best in minor league companies get bumped up to major league.
I don't see integrated oil and gas companies succeeding long-term. With declining fuel demand and year-over-year increases in activist investor pressure to reduce carbon footprints, I anticipate more of our peers to go the route of ConocoPhillips, and split into separate upstream and downstream corporations, or selling off the fuels businesses, so that investors can choose to distance themselves from "big oil" and focus on smaller, profitable businesses. We might even be wise to spin off our Chemicals business as a standalone entity, since that part of the corporation has the strongest value proposition for future growth.
Maybe just buy another company with good exploration track record instead of throwing money away on stock buybacks.
Exploration to find oil and gas.
Hitting that massive thick reservoir in Guyana was an absolute surprise.
We either need better Exploration Management or more of that Guyana luck.