Noble Energy has laid off hundreds of its employees and stopped buying fancy artwork, so they have successfully lowered their op expenses. They are producing record production volumes according to the latest investor report. Record production - not record profits. I'm afraid the current management has forgotten what brought Noble/Samedan to Wall Sreet to begin with. Now they are too, too busy running after they latest "Golden Ring".
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getting MBU DD&A off the books should help. Wall Street will soon forget the $2.2MMM hit to earnings. Also need to monetize west Africa assets.
Obviously the street doesn't like what we are doing. It's not the workers making these business unit decisions - it's the C-level folks.
Will be better