Have worked there for 14 years and was told at my bosses daughters HS grad party I have 50/50 chance. He is announcing his retirement first week in August. Ugh, we all knew this was coming, but having your boss tell you it actually makes it undeniable. He would not give a number but said it will be the biggest reduction in force by percentage and number of employees since we started this as a company.
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@1Bkba, it's not October yet. Wait to see the results of the so-called Fall PDC.
Well, it's September and not a sniff of DWEP layoffs. Looks like everyone's go to info source is wrong again... imagine that.
Wow, it sure looks like someone can dish it out but cannot take it.. LOL!!! It must be the "Always someone else's fault" Childish liberal dweeb Shillary Supporter.
@eurf is a childish dweeb who is trolling the threads all over this site.
@dysk is a childish dweeb who is trolling the threads all over this site.
@djej is a childish dweeb who is trolling the threads all over this site.
@dvky is a childish dweeb who is trolling the threads all over this site.
Wow you guys sure like to throw mud in your own faces and look in the mirror and call yourselves incompetent. I've never seen such self pity. Oh, wait. Lemme guess. How much you wanna bet................. wait. Five, four, three, two, one -- SOMEONE ELSE'S FAULT!!!!! They should title this the "liberal" Chevron workers forum. The ones who blame everything on someone else - LOL!
Correct that Chevron is not the preferred partner. This is what is causing the delay on a few contracts actually. CVX is a pain in the ass Chevron is also asking more than other super majors. It makes it a so so investment and in this climate it has to turn some heads for a Pioneer or Range to invest. And Chevron has a bad reputation of incompetence. These independents are baffled at Chevrons exorbitant costs and low production.
Pipeline company layoffs in September. 60-day notices go out September 1. Exit date October 31. Close to 25% to be terminated.
The problem with NOJV strategy is it implies another company wants Chevron as partner. Even when Chevron is non operator, it's bureaucracy imposes costs and delays on the operator. CHevron is simply not the preferred partner. Major IOC are avoiding Chevron like the plague.
That production math is actually a total of 900000/day for Chevron to achieve 360000/day by 2020 if 100% was nojv. This is based on the 40/60 ratio from an earlier post.
Chevron wants to keep things secret until they are ready to share it with everybody. That is why we have to come to this layoff website to find out the truth of more cuts or maybe this is chevron way of spreading the news to everyone without officially saying it so all the employees are prepared when they announce another layoff round in a town hall, email or at a quarterly call.
@awbc, I think it's as simply as 99% of the employees only care about their jobs during working hours only. They think it's management's job to know those things outside their scope of work. Their job is only to do their job. They are not interested in anything else. That simple.
99% of Chevron has no clue that we had 16 NOJV rigs running in Permian basin. I never worked at a place where nothing is ever shared. We have to wait for the quarterly call like the rest. I am not sure if Chevron wants to keep things secret or that we are so dysfunctional that we fundamentally can't communicate.
I did the math for 60/40 and total daily production would need to be 540k for Chevron to get 360k. This is assuming 100% nojv, which is actually supposed to be 85% according to a previous post.
axdm terms are all different but 60/40 is a good rule of thumb. The wells at wolf cam that we have NOJV'd have been stellar. Hard to believe that the other independents are doubling our production per well, but they are. We are just to slow to respond to an industry (unconventionals) that needs quick solid decisions. One part slows down it backs up entire process. Chevron has great lease holds. Delaware purchase was solid. But we were just unable to produce cost effectively. Cost and low output per well is horrible for company wells.
How much of the oil production does Chevron receive from a NOJV'D well? If total production is to triple by 2020 and 85% of Wells are NOJV'D, then what would be the actual total production? I need some education on how this works.
It seems that Chevron has always been behind the curve with layoffs. A big part of that is the crazy long time frame from the beginning to end of a layoff round, plus the process of having people bid on 3 positions, including their current position and others that have no relevance to their background, plus having BCG involved. This results in huge misalocation of people to assigned job roles and actually lowers efficiency and productiviy. $60 oil will not save this company or industry. I can easily see additional job cuts announced this Fall for most or all BU's. When will Gorgon, and Wheat Stone be fully operational? Big Foot is delayed until 2018.
Are the other business units going to participate in this layoff as well? I can only see a big DWEP cut if Chevron decides to walk away from their appraisal prospects. Have they already decided??
Great thread. Very informative and I can vouch that the facts I know all match up to what's on this thread.
The 16 NOJV rigs vs. The 6 company rigs has changed. Chevron goals is to outsource 85% of all work.....16 vs 6 is 37.5%. Today it's 19 vs 5 which is 26%. Chevron cant make the move all at one inly trend mainly for contractual agreements. Chevron will always keep a few company rigs both for OC and press no matter how bad our costs are. Not good to outsource your entire core buisness. Chevron's non conventional costs are so ignorantly out of whack. In AMBU the independents are all below 4 million. Chevron likes to only use direct costs, they don't factor in salaries, rent, taxes, interest, depreciation.....of course all the independents do. So the reported costs are true on a very deceiving level. When total cost (budget spent vs. Wells completed) chevron is running 11 million. Close to triple the cost. Adding insult to injury, Chevron drilled wells, are producing much less than half of the independents production. Permian is the same costs is percent and output (I don't know exactly numbers). I know that AMBU costs, as I have seen the buisness case for NOJVing the BU, and moving that money to Texas.
Below is the quote. This was for Q4 2015. It has changed and the plan was always 80% NOJV and 20% Chevron. The 20% is so Chevron can have some sort of physical presence. But it will shrink to 10% next year if cost, process, safety do not dramatically improve. From what I see Chevron is really trying. They have moved some of the brightest frac and drilling supers from other BU's to get a tipping point to the positive on those 3 variables. I am still not sold on the actual outcome as Chevrons past behaviors is to ignore SME's as they get a few wins.(Ignore the people who turned it around) Plus our processes just don't support fast cycle shale oil. Plus we have pulled some great OC for Permian but we don't have enough in Chevron to truly get to that tipping point of safe, cost effectiveness, RELIABLE production. This board did make me pull(gave me the idea) several key managers in charge of Permian production and ask them in a nice way to point out a power/fluid end........all blank stares....no clue. But make no mistake about it, Chevron is betting the house on it's success in the Permian......all chips are bet.
•"Our view is not that prices are going to stay at the low range they are today, but part of living within your means is limiting just how many rigs you deploy. We've got 6 operated rigs today. We've got 14 NOJV rigs that are operating today and we think that's about the right balance."
Chevron employees are going to get slaughtered. Oil prices will not rise to the needed levels soon enough, therefore Chevron is going to continue the layoffs. This company can easily become half the size it was not long ago.
Yes 8tpy it is there. In that quarterly call. This is no secret to the shareholders. They just keep it secret to the workforce
In quarterly call Watson gives that figure in rig count. Chevron vs. NOJV'D am to lazy to look it up but it's there in black and white.
If 3/4 of current Permian basin production is NOJV'd, then does that explain why MCBU had a significant layoff of 30%-50% in many departments in early April of this year? The magnitude of the staff reduction did not make sense with all of the hype from corporate about the aggressive production plans for the Permian. Something here does not add up.
It's possible to triple. Chevron will NOJV the work. Pioneer is the prime target. 3/4 of all production is already NOJV'd. As was stated Chevron just does not have the horses to see a major initiative to completion. Pittsburgh is done for 5 years. No investment in the Marcellus and CBU budget was cut by 85%. All work will be NOJV'D. Chevron will act as a management company. Supplying capital ando counting money. They still have issues even trying to pull off this, they can't get many of the independents to partner with them as the terms are unreasonable.
It is Projects and not Production for the "P". This is because deepwater production is handled out of GOMBU. Perhaps that will change with the reorg.
Really? I thought DWEP meant Deepwater Exploration and (Production) business unit.
DWEP is Deepwater Exploration and Projects business unit.
What is DWEP?
So we've heard and told Wall Street that the Permian is the silver bullet to low commodity prices, dividend payments, and strengthening the balance sheet. Yea!!! Plan in place, problem solved, analysts happy!!!! Whoopie!!!!
Now reality... CVX has never ramped up a campaign like this in its history. Do we have a que of wells planned for a ramp up? Do we have the procurement of materials, rigs, production operations, facilities, pipeline capacity for this ramp up? Are these wells and rigs WellSafe certified? The rigs have been stacked for almost 2 years, the crews have moved on. Service companies are cut to the bone and have pricing contracts with us that make it uneconomical for them to do business with us. They have shareholders too. Brent Crude was $52 (the magic price) for about 2 days since the analyst meeting in NY,NY. I'm sorry to say that the story/ plan is not holding up to the facts/ reality. It's impossible to "cut" your way to positive free cash flow if the product you are selling is costing you the same as what the buyer ("market") is willing to pay for it.
Are you one of the Butthurt pieces of deadwood that they speak of?
@HRcFtUL-8ntd, No, YOU do that, coward Douche-Bag with no Balls. Then YOU post it. What, no nuts?
@8xhj, sign the confidentiality agreement, but bring a small digital recorder to the BCG interview. Then post the whole thing on YouTube for everyone to hear. Post the link on this forum.
@8pix, the year 2020 is a long way off. Tripling production by that time is either a deliberate mistake or more Chevron propaganda (or a pipe dream, like you suggested).
This reply for 4utg. If that is true, then I would like your comment on the Permian basin info from the Chevron website. It states that by 2020 the production will triple from current levels. Is this even possible, or just a pipe dream? Just want to know your thoughts on this.
Wow glad to see the BCG mentioned. They are now making you sign a confidentiality agreement. I signed one last Thursday. It explicitly talks about "posting sensitive information on internet posting forums" and legal consequences. I asked my co worker who also signed the agreement, wtf is the internet chat posting forums? He showed me this site. I about sh-- myself.....lots of facts that only a select few should know are posted front and center...........alson on leadership.........Watson boldly saying $100 oil is the norm, started the spending spree. And not one project came on line in the past 5 years. All poor leadership.
Just curious, how much time would it take for you to understand, that ALL !!! Chevron employees are going to be "mapped to unemployment" very quickly. Come back to reality! There is no more oil @ gas for you in this world. Dont you understand that there is no need in you in this world? Where is hatred and trolling here, my poor children friends? Wake up!