Darren keeps cutting as we keep meeting our commitments. With all of the cost cutting / offshoring of roles, has there been any real failures so far? I get it people are pi---d and there have been some bumps in the road but anything else?
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Luckily my group has been reviewing BTC work and the old overpaid Spring PIP candidates have caught all the mistakes that could have ki-led someone.
When all the overpaid PIP candidates have been PIPd, that is when the next Piper Alpha or Valdez will happen.
Polaris is one example - It’s going to cost $3B when all said and done.
Our cost efficiency that we quote are higher than the industry standard given we don’t pay on time anymore but we still include a bullet point on how great we are. We are not benefiting from Scale & Integration
Settling with the union at Clinton only for the site to close. They love giving money to us haha
vendors charge us a premium or don't quote due to systemic non-payment/late payment. It is the exxon premium for "ease of doing business" issues.
We are doing fine without emtech inputs.
It's a commodity company
Keep an eye out for cube 3.0
Way too many to list not including lta second line on the gulf coast
In the Bakken a large number of wells were drilled but not completed they were also not treated to prevent corrosion. When decision was made to complete them and start producing the casing had rusted away so much it couldn’t hold the pressure required to frac the wells. All the wells had to be plugged and abandoned without ever producing a drop of oil.
Had to shut in a large number of wells in the Permian because the regulatory group fired so many people and moved work to BTC. BTC wasn’t familiar with regulatory requirements and didn’t learn them so didn’t submit required paperwork to the regulator.
We’ve had some major rework costing time/money in Projects, with LTTS doing the engineering and BTC reviewing their work, not catching major design issues. Now some projects are clawing back scope and redoing with a local EPC. Especially weak in E&I.
Mgmt said they were mad about the poor quality, so now BPO is standing up a new org in India where BTC engineers are co-located in LTTS office to watch over them more closely…. Not sure how that will improve quality. Blind leading the blind.
Time will tell
We shutdown Baytown as we didn’t pay the water bill.
We did such poor preventative maintenance and monitoring we split an offshore oil producing vessel in half! So long, Zafiro Producer!