Interesting comment under an original post from a few days ago about Schlum Northeast. Looks like adios Appalachian!
9 replies (most recent on top)
Yes they tell us nothing .. Management doesn't know how to run a company and ask HR, they are a useless. All I know is that everyone here is sitting around doing nothing. I hate not having something to do. When I ask my manager he says just look busy. Hey you want to pay me to do nothing ok. I am making over 90K and where else are going to make that money doing nothing. No Where except Chevron. Thanks you ....
They are probably drilling under a JV? Chevron does not communicate anything. I don't know anyone there, but find it hard to believe 500 people would still be there with no rigs running???
Its pretty obvious, they have over 500 employees still and doing nothing but sitting still. Employees have no work, but are not being laid off. All of the other smaller operators are laying off so they can continue to drill actively. Range, Anterio, Chef and Rice are all actively drilling , Chevron is only pumping water in the basin. Poor management.
Leasing and permits in the Northeast are completely different. Even PA, which is pretty industry friendly, is a lot more difficult than TX or OK. If you so much as piss in a bush, some tree hugger is calling for your death. Revenues can be decent, but profit margin is low due to all the regulations that Yankees love. They wrap themselves in red tape to keep warm in the winter.
you know you can link to the original posts?
https://www.thelayoff.com/t/G6bIjBL
Ouch. This is why you have to be transparent. As the contractors always find out the truth. No drilling at all in the Marcellus? Leasing is much different up there than west Texas. You have leasing terms that require drilling there. With Chevron having some much acerage there they have to have loss of lease holds if they are not drilling. Also that BU has to see the end game. Chevron and in particular Watson has said no investment there because of commodity price. That means no drilling. That would be like the Houston Rockets never playing a game just drawing up plays. No way the vast majority does not see the writing.
Chevron is only fracing to use produced water. 4-5 hours a day. No rigs running and closing the Appalachian Buisness unit headquartered in Pittsburgh. Yes it's that bad. Crazy times. Chevron was open with us on no D&C work minimum 2 years. Yet they have not told there own employees. We had emergency meeting telling everyone to not relay closure info to Chevron employees.
the schlumb guys say that the office will be closed, no Chevron drilling activity and they were told not to say anything. It supposedly will be given (not sure if sold, farmed out, JVd or what) to other operators to develop. Anyways, I am curious but still no specific timeframes, people impacts, etc mentioned. I worry for the people in AMBU and hope they are just JVing it to a smaller operator and keep an NOJV team to manage those assets they give to the other operators. Also, nowhere have I seen that the entire business unit will be gone. Just speculation that all of it will be gone. Im not doubting it, I just havent seen anything concrete.
Could you be more specific? What exactly does the post say and where exactly is it? Can you post a link?