So last of the shelf is being sold, nvr mind all our efferts. Wonder how much they got for selling us out to Cox and Arena. How can they make money and we cant? M-F-ers
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Understood parts of the Bay were sold, however that was know a little while back
"no nuthin suits" .. Wow, that's classic. Classic display of Illiteracy!!! ROTFLMMFAOBOAY!!!
Nothing decided on the Tier 1s. Good production there despite how a couple of the posts paint it, money to be made on P&A work and production in fields with decent reserves. This one won't be a giveaway.
Chevron was only producing about 80k bopd from the 800 platforms on the whole GOM shelf. That is only about 100 bopd form each platform on average. Chevron was not making much from it, Just JSM produces that in half a day. GOM shelf use to be a cash cow to pay the dividend while growth would come from overseas. But that ended awhile ago.
Anything is a good deal for the old fields if the liability for decommissioning the wells, platforms and fields goes with it. I agree the Covington office will have little to do when these sales are completed.
I heard we got $50Mil from Cox for the Tier2&3 assets...anothr great deal executed by no nothin suits...
Hold up. .. mp and the bay sold?? When and to who?
They can make money because they are busy drilling wells and producing oil and gas. They don't waste time on CSOC / CHESM / BS like that.
So with GOM assets being sold off what is happening with the shore bases?
Yes, you are correct they are long due for some clean-up in Houston with all the nut-jobs and bigots. There is a good chance that they will eventually close the Covington office as well but that is the nicest and most normal Chevron office that I have been to with the nicest, most interesting and hospitable people. Yet I could see how a bottom-feeder would dislike them because of their strong work ethic and traditional moral character, if you know what I'm saying - LOL!. Houston, not so much. They could shutter up all of the Houston offices and no one would know the difference. They are all clones and nothing buildings.
Lots of crack addicts sell their grandmother's wedding bands for their next fix. The dividend is Watson's crack, so this makes sense.
Gombu made the company. No if's and's but's about it. Call gombu what you want. Label it how you will. Without gombu's revenue chevron is nothing, and i mean nothing. Chevron is an 11-3/4" speck without gombu. If you don't understand that, you don't matter. Selling gombu is like selling your grandma's wedding band.
Selling out? You folks continue to forget Chevron is not a charity nor is any other wise Company. They don't hold on to depleting assets for the sake of keeping others employed. Yes some good assets were sold but in the grand scheme of things they are consistent with what other majors have done. Time to let the smaller Company's take over.
Thank God. Now get DWEP over to Houston and we can pull out of that filth of a bigoted excrement hole that is South East Louisiana. So many people I have met/worked with in CVX have never wanted to set foot in that place again.
-ioc got it in a nutshell. Difference between a oiltanker and a speedboat in directional flexibility.
"They" don't have massive overhead by having HQ in California and excessive processes to follow that cause slowness and greater cost. No massive ETC organization to slow down execution and increase cost. No massive IT organization with multiple layers of management looking for something to do to justify their existence. You get the idea...