Thread regarding Chevron Corp. layoffs

Chevron is in the race to acquire Endeavor Energy

Not a lot of info has been disclosed about the selloff of the privately held Texas oil company Endeavor Energy, considering that at this point it is considered confidential info. Unofficially, Chevron and Exxon Mobil are going to put in a bid. If Chevron wins the bid and acquires Endeavor Energy, it would gain the drilling rights on 329,000 net acres of assets in the Permian, of which only 2% is developed.

https://www.bloomberg.com/news/articles/2018-11-12/chevron-exxon-mobil-are-said-to-weigh-bids-for-endeavor-energy

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Post ID: @OP+W76pCTt

10 replies (most recent on top)

To the previous commentator if you are an employee, show some smarts by not embarrassing Chevron with id--t comments. BTW, I am an employee who is rather smart. Dumb replies are not necessary nor are they needed.

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Post ID: @8kra+W76pCTt

Is AMBU still a functioning business unit in Upstream?

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Post ID: @5ogf+W76pCTt

Endeavor will join the fatality proud company!

Guess they cant get worse than Bigfoot, Gorgon, Wheatstone, Pro+, Ambu, Angola and all the other examples of exceptionalism.

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Post ID: @5dnw+W76pCTt

There’s always a reason for a company to be eagerly looking for a buyer. It’s the same example when you’re ready to sell your car, right? Apply that logic to Endeavor Energy. Now comes Chevron, the unsuspecting potential customer. No need to tell you what typically happens next.

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Post ID: @4rsd+W76pCTt

This would be a legal nightmare. Endeavor is a mess. Would be worse than Texaco in terms of hes and way less profitable

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Post ID: @4jbp+W76pCTt

1yrk, you may be on to something. Looks like they enjoy including repeated words too.

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Post ID: @2grj+W76pCTt

@1sob, I’m sure you are probably right, but I think the moderators enjoy changing or removing words in some posts to invite in-fighting and angst for the the more serious posters. They are trying to disrupt constructive comments on this site.

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Post ID: @1yrk+W76pCTt

My guess is that g and h are close on the keyboard. Spellcheck won’t find that. Most people don’t proofread.

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Post ID: @1sob+W76pCTt

It gas only developed?

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Post ID: @1pef+W76pCTt

Endeavor Energy is headquartered in Midland, TX. It has 1,300 employees and 35 years of experience in the Permian basin. With 500,000 acres, it gas only developed only 2% of that acreage. I see this as a very small footprint as everything else it has is undeveloped. Why is this? One must question the reason Endeavor is putting themselves out for sale. Is it they know what the other 98% of their acreage holds? Maybe it knows that oil prices are going to take a tumble for a long time. It wants out of the fracking business. I hope Chevron and ExxonMobil don’t go crazy overbidding on this one, else some employees can bank on accelerated layoffs later in 2019.

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Post ID: @1iwo+W76pCTt

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