Planning has begun for the next ROM, version Beta 2016...
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The only plan in place is hoping oil price goes up soon. Continuing to re-organize, has become counterproductive and burns resources that could be used to prepare for the the price recovery. Gorgon and the false belief that $100 oil was here to stay feflect both the greed and the ignorance of our leadership. If only investors knew what is really transpiring.
Note that CNAEP Jeff S's letter and subsequent info refers to the ESP as the "First Half 2016" ESP. This employs it is only the next phase. With current price point, negative cashflow pushes us to a severe accounting condition on the P&L side. Balance sheet OK and that is why our stock price hasnt collapsed precipitously. But if we are unable to divest assets on the balance sheet, that raises several interesting questions that convey varying levels of pain for leadership, investors and employees.
MCBU is going to get slammed. Major asset sales about to close:
I am ready to bounce out of this bitch. I hate this company with a passion. F--- you chevron management, you are the pinnacle of incompetence and arrogance.
Troll thread. Geaux Clemson beat Bama!
Global Upstream, expats
An upcoming Beta ROM is not surprising, as everyone knows to expect more layoffs in 2016, possibly this 1Q. What would be news to us is the timing, which Business Units and workgroups are affected and the number of employees to get laid off.