I agree about gutting the empire, but the new PM is a worthless toad surrounded by knee-pad wearing idiots. Whoever thought that the COP Major Capital Projects rejects could figure out Unconventional are idiots..but Mabee they can survive another round huddled together in a fetal ball!
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I left Conoco and work in the Permian. Running 3 rigs and these guys are tickled for $30 oil. Get rid of all the extra sh-- cop shouldn't be paying for and stop using vendors that throw in kickbacks and you can cut ton of cost
Incedible, there are many startups focusing on the Permian that can make a go of it and all thise folks at ConocoPhillips can't make the case for one drilling rig. Just sayin ...
Every group in L48 is grossly overstaffed, especially the Eagleford empire with all of its fiefdomes. First they need to chop the management heads that let these groups get so out of whack even for $100 oil...but that probably won't happen because blame goes all the way to the top.
The empire built up by OV in the Permian (before he was dethroned) should be ripe for layoffs. Too many people with nothing to do.
Limited funded = less people! Simple economics! Should have made the right cuts last October!
They still seem over-staffed especially the Permian since it won't have any drilling rigs next year.