I was told today that during a Zoom meeting someone from upper management mentioned that there will be no more drilling in the Permian and Del/Texas. Has anyone else heard this?
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Re: ConocoPhillips merger, When merger/acquisition meetings happen they are usually at a hotel or other venue than the companies’ offices for this very reason of spilling the beans.
That said, an acquisition like this makes sense now that we have more space at EMHC. Don’t believe the story of savings of electricity or janitors for closed buildings - that will never pay the OPEX for the moves. And don’t believe that EM will actually lease out space to a third party - the commercial real estate market is in the toilet and we now have the MC on campus so security is more of an issue than just protecting the average worker. This is all about making space for an acquisition.
Can you say: ExMoCoPo?
Over on the ConocoPhillips board, they’re claiming someone from Exxon visited them recently with high security throughout the building and parking garage. Possible acreage acquisition?
Shifting such safety critical work to low cost/low quality BTC seems like a root cause.
Actions that seem like obvious potential Root Causes should be avoided.
4x rig going strong Martin/Glasscock right now. 2-3 more to be picked up next per schedule.
Permian is made up of 3 groups
Midland Basin
Central Basin Platform and Delaware Basin in Texas
Delaware Basin in New Mexico
All the future activity and focus is on the New Mexico acreage. Stopping drilling in the other areas is not news. The acreage is drilled out. Better stated as drilling completed not stopped.
BTC SCABS PROVIDED FOR YOUR FIRED AND TERMINATED COVERAGE BY EXXONMOBIL EXECUTIVES!
Just send it all to the BTC and fire us all, do it, do it, do it!
@1xwn+1o6Oqwgb Dude...what the heck!
@1gai+1o6Oqwgb getting there - in favor of India scabs!
@1oww, you get the Mental Giant comment of the day award.
@1gai It’s O&G. The industry is well-known to be an old white-boy’s club.
I don’t personally give AF because I don’t work in O&G and there’s no future in it anyway. If they want it to themselves let them have it. It’ll keep them from exporting their right-wing cowboy BS to other industries.
This is not really "breaking news." We are out of acreage in the Permian (aka Midland Basin), Del Tex is lower grade formations. We're not interested in drilling there in the current economic climate (corporate is very fearful of the media-promulgated "looming recession" (you know, the recession that is now three years late)).
Drilling is currently slated to continue in NM only for now.
If we want to continue drilling in Midland, we'll need to acquire more land (e.g., Pioneer).
You mean to say the vendors will stop bringing all the morning food spreads to the office?!
All we drill is our employees
@1nru That’s all most of you do anyway.
I overheard in an elevator something very similar.
and then again in a nearby 7-11.
All will be given to BTC so you can "work on bigger and better value add projects" like sit on your couch updating your resume.
Remote support drilling will be given to BTC.