Or happy days will be here again? Chevron stock steaming ahead contrary to all the gloom and doom. So may be we are good?
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3wcl.
Profound dude 😎😎. People still leaving .......
@-3wcl, Unless you are a babbling butthurt piece of deadwood then you will be out on the street shortly. Watch yourself.
Layoffs and a ROM are not exactly equivalent... the latter process lead to the former, but the former can occur without the latter.
Covington will be downsized; many cuts and vs relo to Houston. Shell doing the same
When did CVX stop the ROM? They're still laying off people just not in mass; bad PR.
"But the oil prices are still low" ... that's why it's called the bottom. Chevron cut until it stopped bleeding money. If it is up from here, then it would be false economics to cut now and have to hire later. If it is really going to stay at the bottom long term, then I guess Chevron will ROM again and start selling desks and chairs to pay the next dividend.
But the oil prices are still low. 40s have become the steady state. Have they been adding rigs in this price environment?
Well in Cymric they're filling in the spots of operators who've been laid off with contractors. Not only are the contractors doing the former operators job but...they're also filling out work permits too. Cymric has a weak union though.
I think we are close to the bottom, so I suspect no one has the appetite for another ROM. There may be a few more layoffs were assets are sold or other types of reorgs, but my guess is those wacks will come from a hand above, rather than an organized ROM (except if the reorg is a Chevron takeover of someone, then anyone in close vacinity should worry.
I sense a smaller ROM on the horizon. Oil is still too low and the 1 penny increase in the dividend is just additional burden.
There's bound to be more ROMs
2017 looks bullish