We are behind and falling further behind everyday. Obviously the right hand doesn't know what the left hand is doing. And in this case, even the left hand doesn't know what it's doing!
Downsizing and simplification is what will succeed in this current market. Or we keep our 30-40% overstaffed workforce doing the same thing while expecting different results.
Insanity.
Drilling execution is the main reason we are so far behind. It has become so bad that entire management tree should be in question, mainly the VP. We habitually sidetrack wells which can be attributed to lack of attention,knowledge and detail from the same people time and time again. Does anyone question why offset operators out preform us? Does anyone realize that offset operators have rigs within sight of ours? We can see them move in after us and off location before us!Tickle my belly and tell me how many run 4 strings? I know it is hard for the egocentric people here to admit that we are messing up the only play we have.
Enough is enough. We need to trim the fat around here. But with all the nepotism we will undoubtedly fire the wrong people. You reap what you sow and when you reward people for just staying here this is what you get.
But have no fear Pioneer loyalist we have a superb long term development team with a plan laying out all those high IP sticks that will keep the bonus payouts coming. All that in addition to growing our production yearly by 15%. WTF??
This is compliments of the crème de la crème of Pioneer. This group will undoubtedly run the Permian into the ground just like they did the Eagleford asset. That is if the drilling department doesn't beat them to the punch. Maybe they can publish that into another memoir.
Sit back wall street, get ready to watch a world class asset turn into an economic and environmental disaster!
Drill baby drill.
Oil is flat. Stock is tanking. Trim the fat to become a lean and mean operator? Nah that is way to logical. Let's do the opposite and rig up!