https://finance.yahoo.com/news/southwestern-chesapeake-energy-close-merger-202600303.html
9 replies (most recent on top)
The property taxes in Texas are insane. 😂
Tax breaks are better in Texas for corporations, especially for O&G types. No state income tax either. Better hope they decide to move south.
There is no way the HQ stays in Houston. Cost of living and therefore cost of employees is much cheaper in Oklahoma. Plus the tax incentives are far better up there.
Expect the office to be in Houston. Remember Nick is from Houston and he will be going home!!! Guessing with the overlap of people and areas there will be 33-40% in staff reductions globally. Just because someone is in OKC and employed by CHK, I would not assume that you will be automatically offered a position in Houston. There will be trimming on both sides.
Do you really think that CHK will be the winner and the HQ will be in OKC? I’m a director here at swn and, to be honest, I am very worried.
This is the ultimate d-ck measuring contest. But since our CEO doesn’t have a d-ick or ba--s then CHK WINS by default. Go ahead and factor in an 80/20 split for SWN vs CHK losses (AKA) layoffs, terminations. This will all be executed before bonus season, so don’t count on any bonus this year. Fatten the stock so the CEO can fatten his stock. See how this works. You, my friends, are just a number in one cell of an Excel spreadsheet. Mr Way is making this deal for himself and himself only. These type of deals are why he went to fancy business school.
Do not be overly confident either way because both CEOs are only concerned about one thing - how it affects them and not the rank and file.
It’s happening but will take a year or so to complete the deal! Between now and then probably business as usual but with folks leaving both SWN and CHK. In the end, you can expect layoffs for sure as the companies integrate staff. I would hate to be somewhere in middle management with all the overlap that is going to happen so you bettter have a desired skill set and be a contributor! It’s gonna get messy in the end for lots of folks unfortunately. CHK has plenty of avail space at their OK City office but who’s willing to pack up and move will have to be determined. It makes more sense to have a Houston presence but we will have to wait and see what the future holds. Good luck to all it’s been a good but bumpy ride!
Seriously, will the spring office survive? I work there and I am worried. WSJ also reported a deal could be finalized next week.