Rumor has it a reorg of US operations will start this week.
Anyone else heard that?
8 replies (most recent on top)
It’s the only tool this management team has apparently. Run it like cr-p and then reorg to try and save face. Investors keep falling for it though so there you go.
Would this be the ninth or 10th restructuring in the past decade?
@g5 I can think of 2 very inflated groups that are not providing any value to the organization. Please show me one, just one of our peers that have a “chiefs” group or an SMS team that is half the size of ours. Also, why do we have an exploration team? We haven’t had an actual exploration project in YEARS! We have had a handful of “exploitation” projects that could have been easily managed by our development teams.
@j6 yes. Do more with less across the OG companies, big and small. There’s no escaping the fact that jobs in this industry are decreasing in number and those left will be working harder to meet targets. Outsourcing of some tasks is inevitable. Closer to the wellhead will be an advantage as always, for a while.
@g5 wake up. AROA was already gobbled up under a single US team. D&C were consolidated into a single US team. Was this a test? Are they going to consolidate all the reservoir, production, facilities into one team too??
@g5 outsourcing comes to mind.
No clue what could possibly be reorg’d at this point…. pretty bare bones on my team
We are hearing the same. The rumors that we’re hearing are to further condense the woodlands office and continue to lean into ops centers. Assuming Denver will expand theirs and reduce ops personnel to further shrink headcount.
Assuming this is foreshadowing another RIF but anyone else hearing different?