Tell me, as a disappointed stockholder, why does Noble continue to hold on to all that expensive real estate in Houston. Twin Ivory Towers filled with expensive bravado artwork designed to stroke immature egos. And then a 20 story (mostly empty) tower across the street. It may have been a big dream in 2011 when they were erroneously valued at $25B but today is different. They are no longer onshore Gulf Coast, Haynesville, Marcellus, GOM shelf or GOM Deepwater. The wonderful $3.5B Eagle Ford acquisition is about out of drill sites. They can’t gear up the Permian because all the money is going to Leviathan which won’t give back positive cash flow for 5 years. Then it’ will be time for another infusion of more capital for the next wonderful expansion project. UNBELIEVABLE!!!!!!!!!!!!
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DS peaked by 48 but the worst public company board in America keeps paying him millions.
Would you still be employed if you had made the bad decisions that DS made after he became president?
That's a bingo!
It's an industry-wide problem. Executives are doing just about everything except admitting that they are just hanging onto their paychecks until a buyout or a bankruptcy.