In your opinion based on your position / experience?
10 replies (most recent on top)
At the time of the split “Rhymes with” Ratt Cox was warned repeatedly about the untruths in the deepwater portfolio. He ignored these and went with his bias. The ELT was warned repeatedly about going crazy with costs— anyone remember their million dollar Apple “help center” in the middle of the complex? Our Top Leader promised layoffs were over in February then proceeded with layoffs (again) 6 months later. It’s not like they hadn’t been through multiple up and down cycles before. We all know the stories about our CFO. These guys have zero credibility and no business sense.
Our “leaders” lack the ability to look at costs and investments in an unbiased manner. They simply count their personal assets going up and their continued power over us as personal success. We can all see where this is going: bad investments and asset sales until we’re small enough to be taken over, then our leaders receive huge golden parachutes and we all get canned.
- bxag aren’t you saying 2/3’s contractors?
From someone from the inside for 20 years, Let me just say what everyone else is thinking. Look to your left. Look to your right. What do you see? Contractors. Now 5% of your workforce working on contract is fine and normal. 50% of your staff being contract, well that is telling. What does it tell you?
@ajdr: And this is why ConocoPhillips will never be the E&P Company of choice. After all, it’s not just what we do, it’s how we do it. Smart Growth, Superior Returns, SPIRIT Values my azz.
I know our leadership well. They are arrogant narcissists naive about their leadership and strategic thinking ability. They manage based on biased favoritism to the projects and people they like rather than on what creates value.
We will muddle along until someone buys us, at which point most of us will be layed of and the members of the leadership forum will receive their enhanced three-year severance packages with the ability to defer compensation for tax purposes.
We will be acquired. Management will become wealthy beyond their dreams. Employers are doomed to mediocrity.
It's going to drill up all of its unconventional inventory and be forced to actually explore (lol) or acquire.
The end.
We will become the E&P Company of choice. That is all.
We are in a great position, for every 1 dollar over 40$ brent we yield 250million in free cash flow. The company is really in a great position.
Stagnation and poor performance from id–t managers. Same as it has been since the oil price dropped and pantsed our leaders, showing exactly how "competent" they are.