You bet you are never safe. You’re only drilling 15 wells next year. How many people do you need to do that? 15% is not enough should be way higher. Get your resume updated people your going to need it. One thing I learned from COP you can’t believe anything they tell you
What @QNqI13z-tdn said. No matter what they say, chances are it's going to be more. Be prepared for the number to keep climbing.
To drill 15 wells for DB requires 3,000 people. 2998 are usually asleep and clueless
According to Alberta Labour Law, 4 weeks of written notice, to the Labour Minister, are required if 50 or more people are laid off at a single location within a 4 week period. Usually that will trigger media coverage.
The market reaction to those headlines hasn't been positive for CVE, so I bet you'll see a series of asset sales with field operations mostly going to the new owner, followed by continued small batches of layoffs affecting redundant Calgary staff.
With Aeco spot gas price at $1.62us dec 20 2017
And western canada select crude oil at $31.20 us, dec 20 2017
Increasing carbon tax from 20 to 30 t
And new methane tax
More Hiring or more layoffs?
It’s likely CVE is looking to sell additional Deep Basin assets to shore up their balance sheet in 2018. Next asset traunch from rumblings I’ve heard is the remainder of Clearwater. I’ve also heard they plan to scrap a long term production growth plan and intend to consolidate their holdings in the most liquids rich areas in the Montney. Part of their rationale for the DB assets was they wanted a production hedge against propane/butane for Narrows SAP but that project has been deferred until 2022 or beyond.