Any thoughts on the latest org chart released 1/7 ? Looks like two separate entities for L48.
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The org chart? Same pig, new lipstick.
Outsider: "The definition of insanity is doing the same thing over and over again and expecting a different result."
Insider: "The peons think we never change, but they haven't seen our bank accounts."
My take away was a very un-conscious biased approach in the selection process of the leadership!
All the good E&P at COP left years ago
"Closing COP operations in Bartlesville?"
Bartlesville is paid for and listed as an asset. Houston is just rent expense.
While Bartlesville may be an underperforming asset, it's only because of the fart sniffers in Houston.
Don’t forget, this is just a first draft. There will be more “adjustments” later in the year and again next year. Buckle up. It’s going to be a bumpy ride.
Closing COP operations in Bartlesville?
Yawn. Typical strategy. Unable to focus on more than one thing at a time. So now it’s the Permian. Sorry Eagle Fart. Remember, we’re a company whose leadership couldn’t handle having an Upstream, Midstream and Downstream. So we divested. Funny thing is, once the assets were independent from COP, they did relatively well. We couldn’t handle a focus on both oil and gas so we focused on gas, then after selling oil assets, gas tanked and we sold gas assets. Our only hope will be giving the Concho folks enough freedom to continue their successful operating approach but that is highly unlikely.
Huge relief for everyone in exploration that top level exploration management survived.
CEO said New Ventures and headquarters exploration had to go - but thank the Lord they found a way to retain the leadership.