Barton’s posted an article today noting that the pandemic has eased and stock buybacks are no longer a thing. Oil companies are measured by production. Ours is sagging while Exxons soars. Permian is to blame. We have nothing else in the hopper. Dark days ahead.
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I remember when we merged with Texaco. Ok not really merged. When Chevron bought Texaco it was what 18 billion or some amount around that?
Pinterest is worth 26 billion now. Times have changed. Point is merging again may look like peanuts 20 years from now money wise.
True. And today the new Shell CEO announced they will pivot toward a production boost immediately.
@1kho - tell us more.
A sorry commentary on exploitation if the only way we can grow is by M&A! Layoffs are the only thing certain about M&A activities.
Burton’s says CVX buys BP because they have the best CHRO
There is a deal in the works, possibly by end of H1. It is big.
Wow - I thought the doom days for Permian were like 2027, when production would start to seriously decline as the best acreage was drained. Take a look around, Bakken, EagleFord, Barnett, Marcellus, southern Oklahoma, all have demonstrated useful production lives of about ten years. Notice bigger companies now selling out acreage to smaller (scavanger) companies in these plays as ROI drops below what a major expects. OP is correct, there's nothing in the Chevron MCP pipeline to make up the production decline if Permian fails early. Since Chevron exploration is a paper tiger, expect more M&A activity.
Look at Barton and look at our RM
Listen or Read ro Barton and Lusten or Read to our almighty knows nothing RM
Then you will realize how much trouble we are in at CVX
Is it not the gender as both are women it is the day and night difference between an inelegant person like Barton and very incompetent narrow minded lip service provided who us empty with no substance like our RM
It has nothing to do with the race or gender. It is just pure intelligence like Barton or poor leadership like RM
Barton’s is always right
Sounds like management will be desperate to use the one and only tool they seem to have and like using and thats more cuts and layoffs so we can boost the dividend some more. One trick pony unfortunately. Maybe we have layoffs but only PSG 26 and above.
Another terrible management stumble.