Thread regarding ConocoPhillips layoffs

They need to eliminate a bunch of supervisors and managers...too many people telling us how to wipe our assand how many times to flush the toilet.

Well that would be all of corporate in a true independent - if they are that critical the BU's will demand they transfer and not leave.

Managers have already been asked to compile the list. What staff you can let go without business interruption. It's coming.

My team used to have a rig in EF. So did the other team in my section. Now we have one rig part time shared amongst two teams fighting over who will do the well steering. This is madness.

Just get it over please.

"Disappointing results in COP's three unconventional plays" means that ConocoPhillips is NOT in the new core and therefore those left are NOT part of the 1/6th in the L48 in the industry that will still be employed. #COPTheTruth

That might be true but hard for you to tell unless you have your #COPheadInSand - only 20% will be left once this is all over.

Your Dad is getting laid off in August. Don't tell your sister. Your uncle Connie told me this might happen.

• Mom

A simple big picture view on the L48:

• wells produce four times more

• D&C time is a third

• L48 production is double

• 4x3/2=6, we need 1/6th of the people in the L48

Deutsche Bank "continued pressure on oil prices, disappointing results in COP's three key unconventional plays,and/or a deterioration in investor confidence with regard to sustained dividend growth."

Of these comments "... disappointing results in COP's three key unconventional plays, ..." is the most serious.

Initial Production rates for wells drilled in the L48 have increased dramatically due to the shale revolution - the simple truth is that we only need a couple of hundred rigs to replace production for oil and gas. Only the best acerage will be drilled and that means the core of the major shale plays. ConocoPhillips has the EagleFord (which they inherited and almost sold) and a minor position in the Bakken, the rest is junk. The future is in high rate gas and deepwater and ConocoPhillips is positioned for neither #ConocoPhillipsSinking #COP(no)deepwater

Ummm. Last I visited your business unit, people were sitting around planning courses and playing with initiatives. It's about time you had to face reality. The ship is sinking.