Other S&T business units are all growing their rig counts and development plans and Canada is staying at one rig flat. Poised to be sold and be next round of layoffs?
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@3xcx, "...RM have more HR people there than geophysicists..." Makes sense: 1) other than maybe some NOJV, there's not G&G work going on in CBU anyways; 2) Calgary is a good perk for up-and-coming HR folk.
RM have more HR people there than geophysicists… it will be a smart move to exit while prices are high. New buyer to take the whole useless staff and CVX to avoid paying severance. The high number of HR and sending all High Pots abroad is a clear indication that the whole BU is on the chopping block
TR keep downgrading the CBU MD pay grade as the business collapses. Last I heard it was barely a 27.
CBU is marching down the same trail as Aberdeen did. No future.
I should transfer there. That would guarantee it gets sold within a year.
CBU is not really a S&T business. More of a NOJV offshore biz.
We got the The Space thought baby, Lattes for everyone
One rig is pretty busy for CBU - I remember many years they went without any meaningful drilling. Their Wells dept ate well and polished their documentation.
Poised to be sold. For too many years CBU has been a cash sink with nothing delivered. East coast has never found a drop of oil. West coast is either geriatric fields or PR-negative reserves. Nice cushy assignment for high pot future managers, though.