Look at Anadarko for instance, it is down more than 1/3 of its value and has lost $7 billion in the past month or so. Everyone talks about Exxon and it is down $70 billion and trying to find a way to make an upstream profit. Chevron is down $25 billion has had and still is having layoffs and trying to find an upstream profit. Devon has lost over half its value and over 5 billion in the past month. Look at the adjustments it has made to try to cope with the new financial landscape. Marathon has runassto sale and people to lay off and is about to go out of existence. The list goes on. I know in a crisis that each person's world shrinks but don't let it give you ternal vision.
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FYI.... ExxonMobil is not "trying to find a way to make an Upstream profit" XOM 1Q2017 quarterly report said, "XOM made Upstream earnings of $2.3 billion improved on higher liquids and gas realizations. Downstream earnings of $1.1 billion benefited from increased refinery throughput. Chemical earnings of $1.2 billion were impacted primarily by lower margins. " That is $4B earnings in a single quarter.....they are the KING!
Major integrated companies that COP is compared to have lost less because of revenue streams from other business segment that reduced losses of E&P.
There is no cheaper mobile alternative energy than energy you can just pump out of the ground. We have known for years that oil is much to valuable to use as fuel, oil is much more valuable for petrochemicals and plastics. For mobile energy applications with no pollution we should be using hydrogen from water.
wow this guy should be a financial advisor! seems to be a legit analysis of the position cop is in ha
ConocO is not so bad... Based on what.
Here is a comparison
Cop -48%
Xom -22%
cvx -22%
pxd -37%
Cve -68%
yes, i guess some of you are correct cop is btter than cenovirus -68%
Conoco is obviously not the only E&P company struggling to make an upstream profit. Terminating high capital long term project, selling marginal and non-profitable assets, reducing personnel, and restructuring the company are all necessary steps to adapt. COP is moving ahead of the pack in making these moves. Whiners just can't handle or adapt to the change.
"If the current ELT could grow a pair..." we have been waiting 5 years for these eunuchs. It ain't going to happen. The L in ELT supposedly is for Leadership. Real leadership doesn't sit back and wait for subordinates to tell them what to do. Real leadership would take care of the problem "everyone between them and the regular employee that are stuck in their ways and are unwilling to change...". Imagine Patton tolerating this from subordinates. The current ELT is perceived as weak and ineffective and has loss the confidence and respect of the employees. They just seem clueless as to how the company works. That alone is very concerning.
In my limited experience the ELT hasn't been the issue; they've listened when we pushed back on processes and been willing and open to change (granted we did have to call them out on it, but they responded favorably when we did). The challenge I have had is everyone between them and the "regular" employees that seem to be stuck in their ways and unwilling to change because it might mean that their job/team becomes obsolete. If the current ELT could grow a pair and clean house they MIGHT be able to salvage what little respect employees maybe still have. Unfortunately they seem to be incapable of anything like this and continue to let the individuals that are the problem come up with a "solution."
Ryan...cherry-picking is fun to do. It has been 5 years since COP and PSX traded as separate companies. Take a look at 5-year stock performance of the companies EOG, Pioneer, Chevron and Exxon. Note COP is the worse of the lot. COP is tracing more as if it was a major integrated E&P company rather than a high performing upstream independent company. Seems to confirm we may be still structured and operating as a major. Employees have been screaming this observation to management for some time. It seems the BoD needs to force a change in ELT in order to do the necessary heavy lifting: reduce bloated organization, eliminate bureaucratic processes and business practices. Will need an outside ELT. COP management is tainted and unable to recognize and confront what is required. We have been operating the past 5 years as though we are fully integrated upstream & downstream company. It is way past time for a change. BoD step up and exercise your fiduciary responsibility on behalf of the owners the shareholders. The current ELT need to do the honorable deed and step aside as the confidence and effectiveness has been lost. The employees want you out.
That is like saying a 300 lb person is thin because they are standing next to a 500lb person. COP has way too much fat and excessive management with a CEO who "owns" the board-I hear of similar empires, egos, bad decisions and processes in these other companies too. Lets not compare COP to other companies but to how good we actually could and should be.
Ah an optimist appears, finally!!
Web site having problems.
That is Marathon is running out of assets to sale and people to lay off.
Each person's world shrinks in a crisis but don't let it give you tunnel vision.