would be funny if no one showed up for shift change for operations. Would be as fair as the heads up that we got.
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My assumption/opinion is that the employees directly involved operationally would be going with the asset and their fate would be in the hands of the buyer. This headcount would be in addition to the 200 as this divestiture likely was still in process at the time of the headcount reduction disclosure. If the 200 headcount statement included the reduction as a result of divestitures, I think the statement earlier in the year concerning "$500M in divestitures" would have included language that associated headcount of "xxx" are included in these divestitures. Maybe another way to determine this is to look at what happened to employees in the East Texas/North Louisiana sale. Were they retained by Marathon or did they go with the asset to the buyer? Again, just my opinion.
How many jobs does the sell effect? Is the company shedding the 200 jobs plus the ones by this sell? Or are these employees included in the 200?
Nothing new guys.. saw marathon put this package together after 1st round of layoffs.. Considering there was really only 1 person working in production.. it really isn't surprising.. Looking for projects with 1 guy working on it..
A platform - Ewing Banks 873. The last MOC operated platform in the GOM.
What is 873? Is that a well? A business unit? Thanks!
873 is sold
Bueno, much grass.
11/6/2015 - Agreement for Divestiture of Gulf of Mexico Producing Properties
Consistent with our focus on rigorous portfolio management and robust capital allocation, Marathon Oil has entered into a Purchase and Sale Agreement (PSA) for our operated producing properties in the greater Ewing Bank area and non-operated producing interests in the Petronius and Neptune fields in the Gulf of Mexico.
Marathon Oil will retain its interests in certain other producing assets and acreage in the Gulf, as well as interests in the Gunflint development and Shenandoah discovery.
Marathon Oil has been operating in the GOM for many decades, and we greatly value the relationships and reputation that we have built over many years, and we will be focused on maintaining those through the sale process. We acknowledge the contribution of many past and current dedicated employees. These individuals leave a lasting legacy of ownership and alignment to the core values of our Company.
We are working closely with the buyer to close the transaction and anticipate this will occur before year end. In the interim we will continue to operate in the same professional and safe manner as we have previously – with a focus on our Company's long-held values and commitment to responsible operations.
Look on the portal
Prove it. Post the source.