Thread regarding ConocoPhillips layoffs

In COP it is VCIP first, investors second, and employees last. This attitude probably comes from the slave owning culture of COP founders.

The advice to executive management is not the issue its management itself. The oil fundamentals are very clear ...

I am shocked that COP management thought Oil prices would bounce back and kept paying dividend ! .. an employee with good oil industry experience told me , this will end with lot of middle Oil Companies will go out of Business when it was $45 barrel then.. How come the top Mgt did not have a clue to this ? Are they so dumb or it is the Ego ? either way paying Dividend using Debt is Foolish

When one retorts "imbecile" the argument is lost just like ConocoPhillips.

That is exactly my point you imbecile. COP like everyone else didn't expect the downturn to last. And by the way, why are you so worried about the investors? Weren't you the same people who were complaining about the dividend being too high? And btw, the $45 is an average for the whole year and $40 is still manageable with this operating plan. I say kudos Ryan and the rest of the ELT for having the balls to make bald decisions and not let investors dictate the company's future. Also you do know that they can raise the dividend whenever they want right?

The executive team, including Ryan, have been misleading employees and investors by hiding behind past performance. In the call yesterday they presented their analysis based on $45 oil when we have had $30 oil so far in 2016, and continue to have week fundamentals in the oil market. We are likely to see $30 through to the fall ... given that we are running only three rigs in the L48 what will the fall redeterminations of borrowing base look like?

NB - hope Mulva kept his ConocoPhillips stock ;)

No COP lied to investors... They pounded the table and said the dividend is safe. The dividend hasn't been safe for a year, their first plan to survive was based on 60 dollar oil when oil was 45. This time their plan to survive is 45 and oil is trading at 31 oh and let's cut the dividend! Ryan lance is a liar and the investor community is mad because now they are holding the bag at 30 dollar oil which may drop to 20. So the post isn't miss leading where will the growth come from, why did they raise the dividend one cent them turn around and cut it, why did the borrow and continue to borrow money to operate their business. I suggest you look into previous quarterly results and compare it to yesterday's quarterly results. Perhaps that will help you remember how Ryan lied to investors them turn around and cut the dividend.

COP mgmt new excuse about "external market factors we can't control" is absurd. They were claiming all credit on the huge profits when oil was 100 and giving themselves huge paychecks - like Ryan's 27 mil in 2015.

Your post is highly misleading. ConocoPhillips, like every other company didn't expect the downturn to last this long, which is why the dividend didn't get cut last year. Second, COP took out debt once in 2015 during the 2nd quarter, which happens to be exactly how much cash the company currently has on hand. Finally and since you're such a magnificent economist, you might wanna rethink your 4.4% logic. Most of these companies are about to either completely eliminate the dividend or cut it in half or more at the very least.

ConocoPhillips is a total failure. Nothing get solved in ConocoPhillips everybody is waving hands pretending they know things..."the know how?" The company is all BS run by s**t management. That's what you get when you have this lethal combination. "A big failure"