Gas prices are better, but not by much. Production is falling. A lot of people still sitting around with not a lot of meaningful work to be done. Will there be another round of workers let go by the end of 2016?
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Any truth to this, or just bs with no facts behind it?
Prices below cash flow projections and while production is declining less than self defined goals it's still declining . Really the proverbial death spiral.
I have heard another 15-20% reduction ... Probably August . Let those who only funraise for charities get back from Africa ... Then lay them off.
I have also heard of a number of entities public/ private circling to pick up pieces of carcus .. As Swn sells off more to go ... Swn owes about 3x what its property value is worth ; just no way out with no drilling
Rumor is next round of layoffs soon. Perhaps they will get rid of some management during this round. Too many ppl for no operations.
Maybe Chesapeake will buy SWN.
If gas price stays at current level toward the end of the year, another round of cut is inevitable.
Are there any "workers" left? Seems like it's only mid- and upper-level managers, VPs, etc. still drawing a paycheck.