The company is up to something and it won’t end well for employees. They are taking a very hard line on OPEX right now. Likely contractors are going to be cut again. I’m predicting downward pressure on most all assessments. It is going to be a bloodbath again.
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Cutting Opex to the point that Safety and profit are impacted is a display of ignorance by DW.
DW and Kamala have a lot in common.
We are reducing OPEX in 2023 so that we have additional cash to purchase Pioneer.
https://finance.yahoo.com/news/1-exxon-eyes-potential-purchase-192231384.html
UPDATE 2-Exxon eyes potential purchase of shale driller Pioneer -WSJ
April 7 (Reuters) - Exxon Mobil Corp has held preliminary talks with Pioneer Natural Resources Co about a possible acquisition of the U.S. shale oil producer, the Wall Street Journal reported on Friday, citing people familiar with the matter.
Discussions between the two companies about a potential deal have been informal, the newspaper said, adding that Exxon executives have discussed a potential tie-up with at least one other company.
Exxon and Pioneer declined to comment on the report.
Exxon views Pioneer as a top target to put its "windfall profits to use," the report said, adding that the talks may not lead to formal negotiations and Exxon may target another company.
Exxon last year earned a record $55.7 billion on sky high oil and gas prices and ended the year with $29.6 billion in cash and equivalents.
The largest U.S. oil producer this week signaled that its first-quarter operating profits dropped about 25% from the fourth quarter of last year, as oil and gas prices eased and refinery maintenance costs rose. Results for the quarter that ended on March 31 are expected to be reported on April 28.
Pioneer, the third-largest producer of oil after Chevron Corp and ConocoPhillips in the top U.S. shale basin, denied a media report six weeks ago that it was considering an acquisition of smaller rival Range Resources Corp .
It said at the time that it was "not contemplating a significant business combination or other acquisition transaction."
(Reporting by Shivani Tanna and Jaiveer Shekhawat in Bengaluru; Additional reporting by Sabrina Valle in Houston and Liz Hampton in Denver; Editing by Rosalba O'Brien and Bill Berkrot)
Just fire me now and get it over and done. F this place.
OP, no mystery what DW is up to. His past OPEX cuts were well received by investors….so he is planning to do more of it. Only, there is much less fat to cut. He is now cutting profitability….even if he doesn’t realize it yet.
Classic example of the refinery manager who defers maintenance until the refinery breaks down. (And he’ll be long gone by the time the full repercussions are felt.)
Polish up your resumes everyone. Sucks now because tech is no longer hiring.