If sups are willing to leave their severance package knowing that they may get cut, then that should tell you something about the trouble COP is in. The company is losing a ton of money per month with only 3 rigs for the entire lower fr the entire... — read more
Excuse
Offices are still staffed no hour reductions my guess is that they keep everything status quo so that they can say man numbers are really down at quarters end now we have to do a big layoff. ...instead of cutting hours , cutting contractors and doing... — read more
35+ year employee optomistic. That should get the naysayers riled.
Yes, there are many 30+ Conoco and Phillips folks around. Back in the day we went to work for a company WE wanted to work for and RETIRE from. We wanted to be the BEST. So many along the way went for the dollar and not the future. Along the way, I... — read more
Next round of layoffs?
When will the next round of layoffs happen? When and which BU's?
Recruiting
Can someone please explain why there is still a recruiting department if we have no actual job postings? What are they doing?
Nat gas below $1
End of April
Contractors & Office Hours
I know we had "the pep talk" about no layoffs in our asset , I am sure it is ultimately to get everyone back to work instead of looking for the nearest bridge to jump off. No one believes we are not having layoffs No One. It is inevitable but lets be... — read more
Barrett's Privateers
Stan Rogers, late Canadian folksinger, same spirit. Why send? Just seemed to fit the mood. In a good way. https://www.youtube.com/watch?v=ZIwzRkjn86w
Inventories are rising once again. 1.5 years ago inventories were at 400 now they are 518 million barrels and climbing!
The EIA reported that inventories in the country increased by 10.37 million barrel last week. By the week's end, data showed that the country had close to 518 million barrel in stock, which would need to be consumed before a rebalancing in the market... — read more
Boring
It is so boring around here again , things must have settled down...
GAAP... That's where you buy pants right?
http://www.bloomberg.com/news/articles/2016-03-01/fuzzy-math-accounting-chided-by-buffett-gets-fresh-sec-scrutiny?cmpid=yhoo.headline
What will happen to the Bartlesville staff and offices if/when COP is taken over?
What will happen to the Bartlesville staff and offices if/when COP is taken over?
VCIP Checks Not Cashable
So with all of the borrowing to make payroll, why did COP send VCIP checks that cannot be cashed (must be deposited)? Now I have to wait for the funds hold (not balance waived because of COP's questionable financials) to expire...
Oil going to 25...Maintenance season coming.
Feel the burn mofos!!!
Working for COP will hurt you in long run
Bottom line.... COP is not a great place to work. If you have them on your resume its not a good thing. Future employers want people who have done meaningful work that gave results. When your resume hits a potential employers desk it will probably be... — read more
COP hoping Assets sold by summer then there will be a layoff by November
Just a guess but seems COP Calgary is holding on to employees to take care of production until their assets are sold in the Summer. I believe the buyer will be CNRL and its already a done deal because they believe prices will begin to stabilize and... — read more
Worst case scenario
The gas companies have to plan for the worst case scenario if oil prices stay lower for longer, ConocoPhillips Chairman and CEO Ryan Lance told attendees
Why?
If they know and announced that we will have low production for the remainder of 2016 why do we not cut work we hours through 2016 to M-Th? Cost savings & Moral boost =win win......
Since mid-2014 WTI crude oil has declined -76%.
That is not a correction or a bear market, but a depression
Hang Tight!
Wishing those of you with a job BEST OF LUCK !!!!!
Severed with a bonus.
How do you get a vcip after you've been laid off? Says a lot for COP hope they weather the storm.
WSJ relates more that the Saudi Oil Minister said yesterday: $20 a barrel ok w/him
http://www.msn.com/en-us/money/markets/saudi-oil-minister-surprises-opec/ar-BBpVQ7x?li=BBnb7Kz&ocid=mailsignout Aramco hosts fuelfix.com, where the other article came from. They did not relate the really awful part, included in this Wall Street... — read more
Shell closes U.S. shale resources unit and says U.S. head to leave. Any conoco-translation to this?
Translation: ConocoPhillips announces bankruptcy and its liquidation, Ryan will be going to jail...
Interesting prospective...
http://www.bloomberg.com/news/articles/2016-02-24/another-oil-crash-is-coming-and-there-may-be-no-recovery?cmpid=yhoo.headline
Ryan Lance speech 2/23 at Houston IHS Energy CERAWeek, on direction for ConocoPhillips
http://fuelfix.com/blog/2016/02/23/conocophillips-ceo-margin-is-king-cost-savings-key/
Run lean, lay more people of, lay down rigs or get out of the business.
Shale operators from Texas to North Dakota will be “decimated” in coming months. Lots of fat to cut at COP, 14,900 worthless employees. Make a decision tree to figure the upcoming six months! Run your scenarios till no end so that you realize that... — read more
Shale producers will be decimated!!!!
Cut lots of fat or get liquidated!!! Lol. Let's not! Shale producers will be decimated!!!!! Avg. WTI. Since Jan. 2016.. 33.32 .... COP 62.07% debt to equity very bad. Third quarter last year debt to equity was 55%, 2nd quarter earnings will put COP... — read more
Lets take a break from bitching.
Who would you like to see for the general election? And who do you want to win? Trump vs Hillary. Trump wins
Avg. WTI. Since Jan. 2016 33.32 62.07 debt to equity very bad
Yeah buddy billions of dollars being lost by COP. Big target in their back for bankruptcy or take over but no merger.
Clear comments from Saudi Oil Minister.
http://fuelfix.com/blog/2016/02/23/saudi-oil-minister-production-cuts-are-not-going-to-happen/
Rockies BU (formerly SJBU)
How is the RBU in Farmington doing? As an ex-employee, I'm curious to see how the cuts have affected the work and if any good came out of it..
New employees read this
You think you have a long term career. You think you are safe if you survive the upcoming layoffs. You believe the SPIRIT values. Do not. The Dark Side has taken over and no one knows it yet. So no more layoffs? The CEO said the dividend was highest... — read more