I can't believe that there are people here posting how great L48 is considering they alone lost 400 million in one quarter ... thank god for APLNG that managed to actually generate cash. And now we are going to flush more money down the toilet letting the same idiots who lost a fortune cry how great they are doing. We would be better off if we had laid off double the amount of Engineers in Houston who continue to loose money on poorly planned project. They actually believe they are the top performers and are the ones crying for raises and bigger bonuses ... real sad :(
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bahaaa so i'm not the only one that calls that dweeb a troll...but my name for him is a little more creative...Troll Monger...he has no class and no value...so glad I have never had the experience of meeting him. I'd probably need bail money if I did.
Shut down ABU West. or at least layoff 50 % of staff doing nothing...and replace expats for local hires... I know exists that have been there for 7 to 8 years now
Get real, the only real business in houston is the L48 assets. Everyone else is just overhead. Shut down all the other offices including Alaska and Bartlesville. We don't need them anymore.
Houston is about more than L48. So cutting "half the engineers in Houston" would be a lot more than L58. At least L48 could go to same structure as Alaska, with asset managers instead of 3 separate BU's with 3 separate BU Presidents and all the associated high dollar positions. Combine the BUs.
APLNG makes money now, but I would be very surprised if it was a great investment compared to other opportunities we passed on. The ROI with current LNG prices is probably very low. Look at Mozambique, a total (upstream and downstream) development cost of ~$15BUSD w/ 80 tcf of reserves, v. APLNG ~$23BUSD w/ 8 tcf of reserves.
I agree that we should all be concerned about targeting an area for more investment (L48) that leads the company in losses quarter after quarter after quarter. And, our overall investment strategy reminds me of a porcupine curling up in a ball. Our leaders are so risk averse (mostly due to poor handling of money in good times) that we are just not even playing the game on many fronts. If you don't play - how can you win?
Big savings if we got rid of everyone in Bartlesville, shut it down, and brought those jobs to Houston!
Alaska was profitable for the US business. Thanks to the states generous tax breaks to oil companies. It really hurt the state but the politicians are doing well.
Another troll pretending to support Bartlesville! With all the comments supporting closing Bartlesville this guy always pops up. Even tried to get comments blocked by administrators!
Not you again.
SHUT BARTLESVILLE DOWN and reduce future loss!