Noble has rightly come to the conclusion that they can't go forward. They don't have the talent available to survive. Not only have they laid-off hundreds of employees many more very talented people have left on their own. Most everyone left are trying to get out. What's worse is their reputation in the industry is awful. NOBODY wants to work for these losers. There is no future for Noble.
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...and GAP leads to getting "lost in the weeds". That's what I call drift.
drift is a GAP term...
Noble is below average in most everything they do. Except executing layoffs... they exceed every other company in that area. They also excel in executive pay and benefits.
Drift? What exactly do you think Noble's doing if not drifting? They may not be good at running an oil company but they sure excel at finding new ways to screw employees, contractors, shareholders, partners and royalty owners out of a few bucks. That is the drift.
all just a bunch of "drift"
Where did he say his production was in Texas? Sounds like Noble is beating down royalty owners. Not a "true up" but a tune up.
Royalty Owner:Texas- you are assessed and billed directly by the county for ad valorem taxes. Are you mistaking ad valorem for severance taxes?
Doesn't surprise me that Noble would screw over the royalty owners. They're already shafting the stock holders with share devaluations, the employees with benefit reductions and layoffs and the partners with excessive operator charges. It wouldn't surprise me if they leave a few "surprises" behind for the surface owners too. Afterall, one of their mottos is "By Design". As for "Bettering people's lives", they never mention whose lives. Clearly they are referring exclusively to their own.
As to your issue: depending on the size of your royalty you may benefit by consulting a good attorney, preferably in cooperation with several other royalty owners (strength in numbers). Good luck. We'll be rooting for you.
As a royalty interest owner Noble is by far the worst operator I am involved with. Recently Noble decided to make an ad-valorem tax adjustment going back to 2008. Naturally it worked out in their favor. I will not receive a royalty check for 5 months. How I found out about this is I stopped receiving royalty checks. As usual, contacting Noble is near impossible. (IMO by design) Finally after several days a representative called me and left message with a phone number missing one digit and her last name. After numerous calls I talked a representative into checking a first name with the partial phone number (Against policy I might add, I must have a last name) Finally, I reached the representative and she explained the royalty "true up" program. She also informed me I was lucky she gave me her phone number as that was against policy. I told her she technically did not break policy because she only left me a partial number I had to spend a half day completing the call. She told me she could not tell me what the problem is but once they netted my payments and received my first check I could go thru the statements. Noble statements are the most confusing convoluted pieces of garbage in the industry. (IMO by design)
I called the County Assessors about any problems with Noble not collecting or paying proper ad-valorem taxes and was told they did not know of any problems. I was also informed the books are closed after two years. So here is Noble going back nine years making adjustments.
In summary, I believe Noble has laid off people with integrity that would question this method to source additional income. What is left is people that enjoy doing this.
P--pie!!
No worries. All we need is a new round of GAP sessions. Let's all abandon our "Files" and just Breakthrough! Now, who wants to become a Breakthrough Leader? :p
Agree. But thus management team including Davison came in to plunder the company for their own benefit and nothing more. Follow the money.