Despite extensive cost-cutting and throwing everything but the kitchen sink at our “enviable” position in West TX and ramping up production 35% we have not gained ground. We have lost ground and continue to slip. Solid balance sheet sure but negative growth future with present strategy. Machine-learning isn't going to turn this around but its on certain PMPs so the Permian boom, boom, boom refrain continues until the next note which many of us are familiar with from past industry experience. Pretty clear why CEO dumped half his stock recently though.
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Maybe if we all do the digital enough the price of oil will go up.
@ 6xmj, You sure use the word “Leadership” very loosely, don’t you?
Leadership's strategy will be revealed soon enough.
Chevron management. A bunch of greedy, backstabbing, hypocritical, selfish w—rrs. My advice is milk it for all you can like the others and get out
Stock is on a rampage. CEO shot himself in the foot selling low.
All I want to do is zoom zoom zoom on the boom boom.
Low prices are here to stay. They may get lower. Investors understand that. Investors are looking for returns not excuses. The current strategy is not working too well. That is on strategic management, not the marketplace. Time for new leadership or a structural change?
Because low oil prices have nothing to do with the poor earnings?
The CEO unloaded almost half his shares because some were options that were coming up for expiration. The other shares were unloaded because he can see the future beyond the earnings call. What, Do you think he’s foolish? You’d do the same damn thing. Get ready for eventual layoffs in the near future.
NOJV is carrying the Permian not the CVX operated. CVX would be better off the farm out all of the acreage, there wouldn't be a need for nothing more than some engineers to sign off on AFEs.