Our 2015 COST project was a considerable effort and was supposed to right-size the company once and for all. Subsequent actions indicate it was a failure. How have the people responsible for this failure been held accountable?
Exploration deepwater indicates something significantly wrong with the Exploration discipline within the company. Why are the same leaders who "sold" deepwater still in charge? What is the total value lost to exploration in the last five years (excluding tax loss offsets)?
The company became Independent five years ago. Since then, NONE of the promises and goals have been kept. What percent of this is due to lower prices and what percent due to management incompetence? Who has been held accountable?
What was the size of the severance package for the previous CFO? Why was there no one ready to take this position from the Finance discipline?
The company spends a huge amount of time and effort planning. So why did you not have a plan for low prices? If you did have a plan, why have you had layoff after layoff after layoff? Are the layoffs over this year? If not, when is the plan for having them over? Do you realize that repeated layoffs kill productivity and loyalty?
Cumulatively Eagleford has never had positive earnings. What year will Eagleford have cumulatively positive earnings? Since this is the unconventional "gold" for the company, does this perhaps indicate other unconventional portfolio issues?
Employees have lost all respect and confidence in the company's management. Yet this same leadership forum continues. Of the total company 2016 incentives paid in February (stock and cash), what percent went to these top 100 employees? Given company results, does this make sense for stockholders?