If the match is back the COLA should be back as well. Did anyone else in the company lose more than just their 401k match? We lost the cost of living adjustment before the match went away and it has yet to be restored. Did anyone else lose their COLA? How about expats? Did expats lose anything?
16 replies (most recent on top)
Why would anyone leave Houston to relocate to Carlsbad or Midland? It costs more, schools suck, medical & dental benefits aren’t accepted & if you get the Pip, you are stuck - no assistance to GTFO.
But seriously, tell me there’s an upside again! I am already power walking the campus and running to the printer.
If you think Permian doesn’t deserve a COLA, you’ve never had to rent an apartment or own a home there.
COLA for everyone, but prioritize BUs. I wish we all get it back but try living in Carlsbad or Williston. Look up # of flights leaving per day from those airports.
Why are our AFEs so much higher than competion? We have an XTO VP directly responsible for Infrastructure spending, is this not being stewarded properly? I guess with Bart Cahir (former Kearl leader) and America's Infrastruture VP in charge, the Permian has truly turned into The Kearl of the South. Wink terminal at 1/3 capacity, Wink to Webster Pipeline 200 kBD vs. Planned 1500 kBD, tons of infrastructure equipment and buildings purchased and lying around unused. What a 🤡 circus.
@cfp+1bD1YKr6
Newsflash, the same competitors are doing both. It starts with not taking a month to drill a well and not having 6 rig supervisors. I’m in a unique position where I see actual costs from many companies in the Delaware and Midland Basin’s, and Exxon’s AFE’ will make you sp-t your coffee out.
Permian gets COLA???? For what ???? Amazon Prime takes an extra day to deliver your Preparation H?
@mle+1bD1YKr6 Maybe true for field team but not for engineers. Engineers aren’t sold with the wells. Refinery or chemical plant a different situation.
Yes expats lost a lot of benefits over the past year. Including reductions to uplifts, reimbursements, and other perks that make living in cr---y countries during Corona times worth it.
Expat assignments suck now. I probably wouldn't voluntarily sign up for another one.
Employees will not move to Midland, Odessa, or New Mexico because they are afraid that we will sell selected parts of the Permian and they will be sold with the asset.
Chevron, Shell and other oil companies are also selling "non-core, lower value" Permian assets.
EXCLUSIVE Chevron to sell swath of Permian assets valued at more than $1 bln -sources
Source: Reuters.com
Shell is looking to exit the Permian to invest in energy transition, while Chevron's focus is investing in its highest performing assets.
Chevron has retained an investment bank to market some Permian oil and gas fields valued at $879 million and has additional assets of more than $200 million available for sale elsewhere in the basin, the sources said.
@ryg+1bD1YKr6 Are we being compared to the performance of a single competitor across all categories or a different competitor in each category? You want us to beat the IP90 of a competitor who has bigger frac jobs which cost more and at the same time beat the frac job cost of a different competitor who pumps smaller frac jobs.
@him+1bD1YKr6 If Midland didn’t deserve a COLA why won’t any employees move to Midland? How about Carlsbad?
Yes expats in third world countries took uplift hits also. Midland is a cake walk yall didn't deserve 30% anyways.
Stop whining. It will never get restored. Quit if you cannot take it.
The return if the 30% COLA is at least three annual Women's Engineering Day forums away.
Bart and his VPs are still conducting their external study. Word is until the 6th place Permian and 12th Midland performance improves and all the technical support is in place in India it will not even be considered.
😭