Thread regarding Noble Energy Inc. layoffs

Why Noble Energy failed. Please provide your thoughts

My thoughts:

Starts at the top, a very weak board of directors that

1- Allowed too many former major oil company senior leaders to be hired. This changed the culture into a majorly inefficient oil company.
2- Approved the over valuing of too many onshore resource acquisitions.
3- Kept senior leaders too long when the performance of the company faltered.

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Post ID: @OP+1iyCqLrc

9 replies (most recent on top)

That is a pretty good list of ten reasons. I have to agree with most of them.

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Post ID: @1hbhx+1iyCqLrc

The reasons are many, some are:

  1. Too many BP exec's that tried to create a large company culture out of a medium independent.
  2. Exec's that were not remotely in touch with the technical staff. The exec's only listened to upper and middle managers that were also not in touch with the technical staff. Bad decisions were constantly made. Apparently, no accurate or correct information was passed on to either management group.
  3. Hiring too many people, many unqualified or difficult individuals, to attempt to perform redundant duties.
  4. Making too many inexperienced young people managers.
  5. Having too many people like HP in positions that didn't add value yet drained resources.
  6. Thinking the Nautilus training program was adequate and keeping HP on board to spearhead this.
  7. Entirely too many layers of managers.
  8. Lack of strong management.
  9. Not understanding how to evaluate a prospect, play, project or most scientific data.
  10. Assigning any responsibility to DS.
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Post ID: @Lcvv+1iyCqLrc

Noble didn’t fail. On the contrary, Noble was wildly successful and DS planned to sell to the highest bidder. Everything is for sale for an attractive price.

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Post ID: @Hfcz+1iyCqLrc

CVX did not outwit Noble. DS was in the driver's seat and sold out Noble to feather his retirement nest. DS knew exactly what he was doing. It was a great deal for DS and CVX. The people that suffered were the stockholders and employees who had little or no say in the acquisition. When push comes to shove, management clearly could care less about the stockholders or the employees. If Noble had not been sold out, it would still be a thriving oil and gas company today.

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Post ID: @mskf+1iyCqLrc

I can't believe they failed! I guess not enough mo--ns at the GAP International seminars!

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Post ID: @hjkr+1iyCqLrc

Nobel consistently did the wrong thing. You could count on it!

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Post ID: @hhui+1iyCqLrc

Panic sale that looked bad at the time and looks even worse now. People openly laugh it when the deal comes up. NBL was clearly outwitted by CVX.

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Post ID: @hvzd+1iyCqLrc

What about all that break through thinking?!

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Post ID: @frhz+1iyCqLrc

Noble did not fail. It was sold out.

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Post ID: @7dvn+1iyCqLrc

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