Thread regarding ConocoPhillips layoffs

Cheer up.. Downsizing has been occurring for the last 8 years. Energy is just late to the dance. I don't know if you have been paying attention, but these boom/bust cycles are brought to you by the political/business elites as a way to cull the herd, as well as deny the real creators of wealth, the working man, their fair share of the pie. All in the pursuit of profit for high level execs/shareholders. Just double your efficiency/output, take a haircut, and you'll be okay.

... petroleum engineer working on my level 2 CFA when not consulting on unconventional deals.

No, not Cam - just a clever guy that keeps his eyes open. FYI, twelve months at $30 is really serious with respect to debt covenants and collateral: $39Bn market cap and $25Bn debt with the twelve month trailing realised price falling from $44 to around $30. VERY SERIOUS!

Is that you Cam?

Jeffrey Currie (Goldman Sachs) - trendless bottom for six to nine months with oil price spiking down to cash cost which may be in the teens. Likely more nine than six months. Upward bound $40 back to fundamentals. That would give us four quarters of $20 to $40 oil, or what we have now.

Interesting. Our employees have to get the perspective of outside traders (Vitol). Where the F(K are the traders in our company. A bunch of clowns marching to Tom M. and his miny mouse side kick Tom Cornell. What a bunch of wanna bees. These guys should be f(King fired on the spot. As well as that fat whore running power. Seriously, why didn't the "bad ass" traders stand up to porky pig MULVA. The guy bought Burlington when natural gas futures were trading 8.25. Real nice Jim. How many of your red neck buddies you hook up on that bullshit buy. Prison is where you belong old fart, right next to Madoff. And then look at Head of Power. This gal is a real apple pie I tell you. Never closed a deal in her life. She sells the only damn power asset we ever had at the absolute bottom. She must of been in Mulvas office often. Taking the notes.....or something else. Regardless, she convinced leadership to pay Exxon to take the unit of COP hands. Shortly there after, and it wasn't no surprise, where the asset resided was about to be added to the new MISO SOUTH foot print. Sure enough the unit is now worth hundreds of millions. She learned a lot from her daddy and was promoted to Head of Power for giving a 400 million dollar asset to Exxon for free and cutting a check for 5 million. CLOWN. PERIOD. Folks its no wonder we are all on the ropes. Decisions like this have been happening for the last 20 years. Leadership has to go. Sure, oil prices reduce opportunities in the market place, but its the culmination of all the F*ck tard leaders that have gotten us where we are today. Time for me to move on....new chapter ahead. Its been fun....

To FQUMzTT-

That was P-66, they knew how to squeeze a dime, COP steps over thousands to pick up a penny! Most employees do not understand an austerity plan. This goes without saying for the youngster and even many of the experienced employees! We will see if COP is around in two years!

If you back to 1986 P66 shrank for 5 to 6 years before they stabilized. Then they were marginally profitable for the next 6 to 7 years. there was also a lot of consolidation. However as P66 shows a company can barely get by and still survive if it has the will.

Here is what the trader Vitol predicts: http://www.businessinsider.com/vitol-ceo-predicts-oil-may-never-be-more-than-100-per-barrel-2016-2

• Oil trading in a band of $40-60 for the next five to ten years.

How will ConocoPhillips assets do in this price environment:

• $58 (Q22015) CFO = $2.0 CFI ($2.5) adjust for lower dividend $0.6 - net CFO-CFI $0.1

• $46 (Q32015) CFO = $1.9 CFI ($2.2) adjust for lower dividend $0.6 - net CFO-CFI $0.3

• $40 (Q42015) CFO = $1.6 CFI ($2.2) adjust for lower dividend $0.6 - net CFO-CFI $0.0

Bottom line - with no debt repayments or interest ConocoPhillips barely makes money on their existing assets. 2015 relied on prior year capital investment in major capital projects to grow production, we can expect the company to slowly shrink.