There is so much mediocrity leading the BU it’s no surprise we’re not where we need to be for a company with all the potential to be a leader in the industry. We do a poor job at hiring the right people. We’re stuck with subpar leadership because anyone with any talent is not moving to West Texas or Carlsbad, NM. It puts us in a cycle of bad decisions from like minded individuals that only promote other like minded individuals. I look forward to drop in oil prices so we can cut all the fat and prove once again we don’t need all of these non-value adding positions and policies.
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@3qkm, legacy acreage position. That 1MMboepd is going to decline rapidly, probably by at least half by the end of this decade.
@3qkm+1vwc2QVR - Good people in the field make up for poor managers.
How did MCBU make 1MM BOEPD with subpar leadership?
@2qzq, this is typical of BUs living on past reputations. MCBU and ABU could be run by computers (maybe the robotic dogs?), there are no hard decisions to make there, no upside potential. GOMBU faded from the 90's to the present day, to realize that they had to sell off their assets to stay alive (like locusts leaving a now-barren field) makes one wonder how they have any status left in the company now. I guess now they live off of DWEP assets, which has resulted in no new discoveries since Covington management took over.
Twitter makes CVX look like a well-oiled machine. Fidelity has taken an 80% write off on their Twitter "investment" since Space Karen took over.
Department of Government Efficiency
What is DOGE?
MCBU laid off all its experienced "vertical" people in 2015, oblivious to the unconventional potential of the area. (Remember - EB was in charge of that layoff round). Once the unconventional potential became apparent (Chevron was about 3 years behind the rest of the industry), the BU struggled to "retrofit" failed CTC and GOM techs into "world class" horizontal drillers and frac-ers.
MCBU. ABU. GOMBU. For all the years I have been here it is amazing, after coming from a different company, how bloated these BUs are.
Just look at Twitter… 80% cut and now way better and used by more people especially this election cycle… then u Compare CVS talent vs pre-cut Twitter… DOGE is a slam dunk at CVX when you hire “the two Bob’s” asking what do really do here again?
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Don't get too excited yet ... wait till you realize how much of a fail the real DOGE will be.
Chevron needs to provide more support along the lines of Comfort Ladies to get quality people to move to backwaters like Midland and NM. It works fine in Africa, etc.
Surprise - Its been that way since 2020 when they let way to many great technical people and several leaders that actually made things happen walk out the door, albeit with cash, The were is such a hurry to have them replaced them with eager pleasers without the skills. It's no wonder performance has plummeted. The massive erosion in OC was masked by the forced pandemic slowdown and large inventory of DUC's. Leaders built the capability to get to first quartile by 2020 from scratch and the keeners that have followed have lived off that inventory and have eroded it back. We are reaping the consequences of promoting the ruthless climbers at the expense of experienced people with proven performance and results. As JG installed in the culture. "It's not about results". No wonder he couldn't construct or meet a BP
Twice a year MCBU Wells management buys all the drinks onsite representatives want before sending them to the sites in company vehicles. Makes up for the way management treats them. Management does guaranty there will be no dr-g or alcohol testing during this event so people won't loose their jobs.
Subpar leadership starts at the top.
Don't get too excited yet ... wait till you realize how much of a fail the real DOGE will be.
ABU says hold my purple circle. Where mediocrity rather than meritocracy goes to flourish.
Two narcissistic empty suits being put into roles they neither understand or are qualified for, under the delusional notorious they’ll find massive efficiencies, is very on brand for Chevron.