Actually @zvc, the CVE finance folks and management inflated the metrics to justify the transaction, not COP. COP has been telling CVE management for months that the type curves are out to lunch.
6 replies (most recent on top)
1djp: agree with you.
Time will show how bad it is,
Ex cop are followers or leaders?
One drill season will show all.
Cve is waiting for the train...
COP people give themselves to much credit. Most of them can't find their way out of a plastic bag. The ones that knew how to execute are gone.
COP has barely drilled anything in the deep basin since 2014 and have a poor track record at that. They exaggerated their financial metrics to management to make the acquisition deal a reality. This isn’t going to end well for them.
They are here to stay, get over it. The COP group is far more successful at conventials than CVE. They will be heavily favoured over CVE staff, as already observed.
They're protected by contract clause until Jan 1, 2018. After that Big Z will throw many of them under the bus to make himself look good to the new CEO (as he has done before).