Thread regarding Noble Energy Inc. layoffs

ER. Ok Boomer! Still clinging to those GAP files. You are too funny!

WTI is $16.95 at the moment. WTI blend is $12.95. Colorado DJ is what? Under 6? Sorry to keep bursting your bubble, but August and September futures don't count.

It does matter you know. It's about burn rate, how fast Noble goes through cash. Welcome to the real world, such as it is.

LOL and SMH. Ok Millenial!

$25.80 eh? Really? It's $17.26 (Thu pm). I see you're still clinging to that GAP thing. Wanna talk about it? Share your emotions? Good luck with that.

Reality s#cks sometimes, this is one of them. You'll get your $20+ ...sometime. After a bunch of wells are shut in and the market rebalances. Until then stop wasting time believing in cr-p and be realistic. SMH

Haha somebody looks dumb now

@6vum+14v3uZ47: WTI is $25.80 as of this morning. LOL!!

Yah LOL you superior acting holier than thou know it all millennial azzhat. You think you’re the only one who can look up the WTI? If you think Noble blew it so much why are you still there?

LOL! When did I say Noble was the only company “in this oil price mess”? I didn’t, that’s just you projecting. What I said was: “You may think you can power through this with positive thinking, but that’s just GAP BS talk and that kind of nonsense is why Noble is in this mess in the first place”.

Sorry you didn’t like that. Unfortunately, it’s true. The business challenge from this Corona virus price collapse is unparalleled. Still, years of epic mistakes by Noble management have severely weakened this company’s balance sheet. Billions were squandered on c-ap projects like the Marcellus, Falklands, oil shales, etc. Projects that should have been avoided weren’t. In each case the risks were obvious. Still, management and folks like you chose to focus on the “positive” and ignored the reality. Now, all that cash is gone, burned through. $Billions that could have provided a cushion today. That part is all Noble’s fault.

Water under the bridge… except certain people in this company still think they can BS through life with nothing more than positive spin. It won’t work anymore, not in the current market.

There is a path to survive this turmoil. It involves being realistic for a change. For one, stop dreaming that oil will miraculously pop back and stay above $20. Not gonna happen, not by itself. Storage is filling up fast. The price will really crash when it’s full and that could be in the next month. Instead, why not take that optimism and march over to DS’s office, tell him to get off his fat arse and start working with the administration and other operators to organize an industry wide production cut of say 30%. That’s a tall order. Gotta get past the greed and collusion and “socialism” issues. Still, it’s a more realistic option than just saying you are being positive.

By the way, WTI is currently at $14.22 (Wed pm). It stinks, but it’s reality.

when the person who posted "price will be $20 tomorrow" that was the June futures contract price . it got hammered again the next morning but this post wasn't wrong to consider a $20 oil price, that was the price.

You can’t be serious in thinking that Noble alone is in this oil price mess? What is wrong with YOU?

There is a difference between being positive vs delusional. $20 oil is clearly delusional under the circumstances. You may think you can power through this with positive thinking, but that’s just GAP BS talk and that kind of nonsense is why Noble is in this mess in the first place. What’s wrong with you, will you never learn?

Saying that the Per barrel price will get to the $20s is about staying positive. If you’re here to insult the good people of Noble then just go back to whatever job you’re doing now. You got laid off from Noble last year, right?

$20s per barrel eh? Looks like you don't know what you are talking about. That's OK. It's par for Noble.

The price of oil will be back up on Tuesday to in the $20s per barrel. Still not good but at least not below $0 per barrel. This is frightening.

If you haven't been paying attention today's market should put things in perspective. Cash flow is grinding to a halt.

I hope I’m wrong, but more layoffs are inevitable. Severance, if any, will be minimal.

Anybody hear anything for layoffs and severance packages??? No way can Noble afford to keep all this overhead and it is morally wrong to furlough employees for more than three months!!!! IMHO

Who would want to be furloughed for six freckin months???

I don’t know what the right answer is. It seems like the company is asking a lot and expecting the impossible by guilt tripping the workers into believing their might not be a company to come back to if they don’t accept furloughs and pay cuts.

First step before asking employees to take pay cuts

hmmm..... furlough people FIRST, cut pay for line workers second, after everyone else gets their pay cut, then and only then consider reducing the pay of the VP and exec's.

Noble management if horrible! Actions speak loudly, and their actions are deafening. The environment that Noble execs create is Toxic to the success of the company.

I saw the press release, and it left me sad knowing my VP took a 10% cut that VP will get back in bonus next February while I'm out here getting paid 50% for doing 100% of my work plus 25% of the work of my lazy co-worker and 100% of the work of a furloughed co-worker.

What are you looking for? Everyone is knows this already and it’s on the stock market plain as day.