Think Corterra will keep the Denver office open? Not likely....
Hopefully a takeover will finally eliminate the neoptism that's plagued the company for years. Fun times ahead.
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Looks like whatever talks were going on fizzled out. Coterra spent their money elsewhere:
https://www.reuters.com/markets/deals/coterra-energy-buy-oil-gas-assets-395-billion-2024-11-13/
There probably was merit to those rumors since that deal was announced only a day before the Uinta divestiture. Probably some agreement behind the scenes on timing of announcements.
The Denver office is a status symbol - axe it. The Bow is just ridiculous but they are probably stuck with that given the crazy decision to build it in the first place. The woodlands office could be half the size. The company is top heavy and inefficient. Way too many staff paid way too much. Sad thing is, the senior management and senior HR personnel who have allowed this to perpetuate are still employed and probably still will be after this latest round of cuts. Ahem.
Is acquisition confirmed? Sounds like a rumor and Coterra has no presence in Canada…they are also relatively small to be able to acquire OVV
Here we go again.
Coterra axed Cimarex's office in Denver, but it was much smaller.
Layoff announcement today is probably telling though.