Because this is ridiculous.
We might as well change our name to Clampett Family Oil and Gas.
It would be a far more accurate representation of what goes on here.
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here we goes folks....in the next few days people will start getting their "bad reviews" and the layoffs will begin. This is what they've done ever since 2015. Look out for yourselves.
Cutting CAPEX is step one. I can't believe we are still hiring...especially an EOR engineer. That's a funny. We will never do EOR in the Wolfcamp / LSS. Waste of time and money...like so many of the "technical advisors" we have.
And now we have a job opening on LinkedIn for a Sr or Staff Res. Engr for WAT. That's a joke. There are plenty of people here who can do that job.
they have quiet layoffs every year....except they tell people all of a sudden they have poor performance and if they don't take the severance offer then at the end of their performance improvement period, the offer will be off the table. they also convince you that you won't be able to meet the requirements. it's a shady way of doing business, but it's how they avoid having to tell the texas workforce commission and the investment community what they're doing and that they are actually struggling financially. current hedges and 2018 hedges won't sustain the company. they will have to sell a sizeable portion of the eagleford or layoff a bunch of folks next year if oil stays in this 45-50 range.