Its leaking out.
14 replies (most recent on top)
CVX MCBU has been a joke for years, Compared to peers and independents in MC, we are a bloated dinosaur! Losing the Anadarko deal and our continued abysmal unconventional performance make me wonder about the competence of (and reasons for divesting) both CVX management and MCBU staffs/contractors!
@2cnp - perfectly good business? lmao. AMBU has NEVER, yes - NEVER, been profitable. We bought that asset from Atlas thinking that natural gas would be at $10. It's only hovered around $2 or below pretty much every year we owned that asset. AMBU was finished before she got there. The worst thing she did was screw up frac contracts that impacted MCBU's costs, too. That was a disaster.
AMBU and MCBU are not being merged. Employees from AMBU who wish to stay at Chevron and are mobile are actively posting for off-cycle, and soon PDC, jobs. More than 10% of AMBU personnel have successfully landed new Chevron jobs off-cycle already. There will be an EOI very soon and layoffs after the Spring PDCs. If the sale is unsuccessful, we will still need people to operate the base business. The office-based work may be rolled into another BU - just speculation - but no decisions have been made for the no-buyer scenario yet.
Having driven a perfectly good business right into the ground, she will no doubt be promoted to upper management.
What’s outlook for VP AMBU, where’s she going?
@1yvj, not sure whom you are directing your own personal isolated incident grief at but your experience is purely anecdotal and is evidently a result of poor decision making and lack of planning. I have worked in Midland and moved in and out with no such problems, as have many of my coworkers. Downturns in the O&G industry and their effects are not unique to any one particular area.
you mean the PDC will take place. and yes, that's correct. all the AMBU people are must moves, and there are already a bunch of jobs posted from other BUs (which includes MCBU) just to take on these AMBU folks
There is no such plan to merge AMBU into MCBU, the CDP will place folks in different BUs and locations.
If you are in Midland just because of the job, make sure it’s not the place you get stuck in when you retire or get laid off in when times get lean again. You’ll be fortunate you only rent and not own a home. Getting out of that nowhere town of Midland will ruin your entire decision of going there in the first place. So if you go to Midland to make a living, also plan to get out safely. Rent, don’t buy a home. You’ll thank me later for this advice.
Xqm- It would depend on the work group, but MCBU is moving more & more people from Houston to Midland.
People absorbed in MCBU will stay in Houston or midland?
Timeframe for layoffs will be announced shortly. Those retained will be absorbed into MCBU and from there will manage the sale of the assets.
No way, there’s no merging of these two BU’s going on. AMBU will be history, assets sold and personnel gone to the new owners or laid off. Mid-Continent BU will be reorganized and maybe partially merged or the name will be changed, but there will be less personnel in MCBU when it’s all over.
Fake news