Anadarko is trying to rapidly reform incentive structure because Activist investors are targeting APC. They have already gotten Chevron CEO fired (layoffs coming), GE (CEO fired, splitting up for parts, the crown jewel digital/ Predix platform is being gutted and put up for sale and massive firings), BHP exiting Oil Gas (huge layoffs, whole oil gas operations up for sale). No where to hide— CEO likely to get booted for lowest returns vs highest salary in industry peer group, crap strategy (not shale, not deep water, lost $50B in market cap, cut dividend, sold best assets, missed expectations across the board). New CEO will be have almost all compensation tied to profits, fix ship and either focus on returns or prepare company for sale. Get ready, buyers will attack once confident that oil sitting above $55. Likely to push everyone closer to rock (Woodlands shrink), cut AAET (HUGE expense, no results, cult like fascination— notice they removed AAET from the most recent earnings slides, investors are angry!!!), focus all bonuses on profits, and cut support staff like crazy (APC revenue per employee is WAY too low compared to peers). XOM buyout is best bet. Either way, don’t get too comfortable, gravy train is going to crash down very soon! You have been warned, get out or get as hands on as possible— management going to be chopped!
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Wow, the positive comments and posts keep rolling in! After browsing these posts and reading the cheerful responses and replies, it's quite obvious that APC is still a great place to work! Oh man, having the Core Values shoved down your throats (among other things), it's plain to see that APC maintains a healthy and productive work environment. Go AAET, set the world on fire boys!
I'd buy that for a dollar!
Interviewing with another company today! Getting the hell out of this bureaucratic incestual cash killing sh-- hole before they start axing people again!
God is good
"a company, whose SOLE function is to generate shareholder wealth"--
You realize APC has LOST OVER $45B OF SHAREHOLDER VALUE IN THE DOWNTURN?!
Don't blame oil prices, EOG is more profitable, higher market cap, and larger absolute production (none of that divestiture adjusted b---s---) than before the downturn.
APC has destroyed wealth on almost every front. Our market cap is less than half of highs, we cut the dividend, and we sold tons of future to pay for crap investments.
Anadarko is not a company.
A decade ago, 9 years ago, 8 years ago, 7 hears ago, 6 years ago, 5 years ago, 4 years ago, 3 years ago, 2 years ago or even 1 year ago -- if you took your money and put it under your mattress, you would have more money today than if you had invested in Anadarko.
We are FAR more experienced in DESTROYING capital than making money for our shareholders.
APC is a joke. That's why activists are going to tear us up for parts. Their checking account has made more for them than we have.
"The core values are a joke. If you're really going to let a company, whose SOLE function is to generate shareholder wealth, dictate your morals and values, you should be spayed or neutered so you never reproduce".
Agreed, 100%. You shouldn't need a company to brainwash you into believing you need their Core 'Values'. I saw countless infractions of those 'values' almost daily, yet every birthday/new hire lunch and every town hall meeting and every event starts with a Core Values and Safety moment whereby some brown noser stands up and presents a story where they were shining examples of a core value or a time when he/she practiced safety. That reminded me of kindergarten show and tell where members of the class show off their new baseball or Easter bunny.
Seriously people, why would someone come to APC because of the core values? Why?
The core values are a joke. If you're really going to let a company, whose SOLE function is to generate shareholder wealth, dictate your morals and values, you should be spayed or neutered so you never reproduce.
Though I don’t work there anymore, I can vouch for at least one kid in AAET. Turned down Google to come to APC because he believed in the core values. Point being, there are A-Team players who still live by and embody the values: an army, quietly waiting for a resurgence in Hackett values for the pillar of operations. When is Alta Mesa ramping up?
What happened in 2013?
I bet they layoffs will start right before bonuses. Hess just had there’s.
Paranoia is an annual tradition now!
The only true talent that APC had left in 2013. Just a fact.
Core Values are complete lies. This forum shows APC culture and values better than anything else
But these forums are a bright side to my otherwise sh*tty workday. Between the forums, my two hour lunch, my hour and a half at Tru Fit, and reading the weekly reorg email, what else do I have to look forward to?
You! APC employee! Get back to work and stop reading these forums! Your two hour lunch is over!
"Being laid off is terrible, but once you get somewhere else, it's so much better!"
Yes, absolutely. I was seriously bummed out when the two goons entered my office, closed the door, through the blue folder on my desk, and read me my rights as a newly laid off member of the APC unemployed club. That s---ed and made me feel horrible. Alas, I moved onto much better opportunities, and, I can honestly say, I am much happier.
You can get out while you still can, or do I what I did and hope for the best, which, as mentioned above, was indeed the best decision I made as I was let go and escorted out. Reading these posts justifies how much happier I am to be gone and done with APC.
Thank God I got out of APC.
The culture is so terrible, the words "Core Values" just make me angry and cringe now.
Save yourselves! You don't even realize how backwards and bad it is until you go elsewhere.
Good luck friends. Make sure to save money, buy as many days as possible for prescriptions, and always keep improving your skills. Being laid off is terrible, but once you get somewhere else, it's so much better!
Oh wow, they removed the post where the AAET guy listed things you have to be on the team to know.
Guess he got scared someonE would Know who he is.
Maybe a post after a few beers? Oops!
Once again, hE evades talKing with hr about his own poor judgment.
Wow. Some AAET twat must've spent all day reporting someone was mean to them and got comments removed!
Not surprising, the incompetent often run to HR to destroy people. somE Kind of accountability. They fire people who call the anonymous hotline and then they police a PUBLIC THIRD PARTY WEBSITE.
Maybe we should just add a Reddit or 4Chan thread and put out our real thoughts!
I guess short fat guy is disrespectful and will be banned yet short pointy haired guy is ok. Haters gonna hate. Go APC
Sorry to hear about potential layoffs. Oil and gas just can't catch a break.
I work for a large software company. AAET and APC have a huge reputation for buying anything we pitch. Ever since AAET started you guys have tons of money burning a hole in your pocket.
Our sales guy with the APC account makes fun of APC during every quarterly sales meeting. In fact, I'm pretty sure I know the pointy haired guy who gives 4 minute intros, he's definitely a little man, if he's the guy who goes to a lot of conferences?
Anyway, you guys always help us meet our region sales quota.
The only easier companies in our region are Neiman Marcus, GM, Pepsi, and Whole Foods (although Amazon has already killed the cash cow).
Honestly, Anadarko's internal AAET people don't even comprehend what we are saying. Wish you were my account.
Rooting for you guys!
For the longest I thought this whole post is a troll with same person playing both "sides" of the game "who can say the craziest, most politically incorrect and unprofessional statement of the day".
At this point it seems it was real all along and actually easily identified origin.
Thank God, at least the behavior trait is clear to the ones in the APC neighborhood and we don't have many like this hiding among us. The LB guy (whatever that means) stands out. Not sure why he is still around, Everyone asleep at the wheel?
Servant leadership anyone? Core values of leading by helping others, the group?
After reading the raunchy behavior of management from the hotline thread (read it and laugh, because you know who they are!) and this mind numbing stupidity about big data, I’m so glad I got the boot. What a class act anadarko has become!
Hess is being attacked by Activists. Layoffs starting, mostly in Houston!
Hess is the only company in our peer group with a lower return on capital and worse performance than Anadarko!
Brace yourselves, APC is next!!
Activists are targeting the weak in oil and gas. DO NOT GET S---ED INTO AAET!
THE NEW CEO WILL SEE THE AMOUNT OF CAPITAL BEING DESTROYED AND IMMEDIATELY CUT THAT R&D LINE ITEM!
JUST LOOK AT OUR G&A EXPENSE PER BARREL IN EARNINGS SLIDES. DON’T RISK YOUR FAMILIES OVER MOMENTARY b---s---!
Hope the new CEO will fire the whole group and get rid of all those AAET Douches, the culture here is so unbelievably bad. Run away!
Even the people who defend AAET don’t argue with the points the AAET Douche made (Lance Bass EK— one of those guys who introduces himself for 4 minutes in an internal meeting to make himself sound important and fancy to everyone— little balding Lance Bass!) because they all secretly believe that crap!
The mighty will fall, they always do! Until then, just keep busy talking at TIBCO SPOTFIRE CONFERENCE—- OOOO WOOOWWWWW. Idiots, If you spend $2M+/year, they’ll let any jerk speak!
This group and their constant conference talks and circle jerking is the definition of corporate hell. This is the stuff you hope your kids never have to endure!
https://www.thelayoff.com/t/RebXwwn
“Without AAET, what do we have left?“
Despite the rhetoric AAET isn’t an asset. It’s just a tool. Tools can be useful, but they don’t get assigned a value in a takeover, not in the O&G industry anyway.
“AAET is a distraction from totally terrible and inexcusable results.”
Exactly, now you’re getting it. AAET is just razzle-dazzle for weak minded stock analysts. Gets them distracted and buys some time. The hope being the market turns around before they figure out it’s only smoke and mirrors.
“...Exxon doesn't want us. They know the longer they wait, the lower the price will go or the more likely they can buy the best assets when we get desperate.”
Not quite. Truth is they just don’t want APC. If they had they would have taken us out two years ago when the stock was in the low 30s. XOM constantly evaluates takeover opportunities. If they’d seen value they would have acted. The fact that they didn’t tells you everything you need to know.
The way this plays out is more of the same. APC will continue to struggle. Squeeze a little cost here, optimize a little value there until commodity prices finally get to a profitable level. It’s not pretty, just the way it is.
Following these posts only complements the comments from folks still grinding away under the watchful eye of the queen of ice. Good riddance APC, may the highest bidder take over with their cronyism management team and remove any remaining folks with integrity so that the Sh****le transition is complete.
Thank you, thank you, thank you APC for showing me the door. Perusing these forums and posts solidifies my thoughts on why APC did me a favor for letting me go in March 2016. Reading these posts and comments shines the reality of what is really happening in the world of APC. I knew it was bad, but not this bad...
To be presidential about it and summarize everything, Anadarko is a sh*thole company.
Without AAET, what do we have left? Mediocre results across the board, our CEO waffles on every promise (dividend, growth, profits, etc) because he's scared sh--less of activists taking his crazy huge paycheck away, Denver is in shambles, offshore is borderline viable- only existing projects, the dividend is a fraction of what it was, we have lost 2/3rds of market cap, we killed people, and we are still bottom quartile. Our best onshore wells are squarely average or below, we can only "make them" economic if we ignore acreage costs, and now activists are realizing there is little to no hope we can continue to "focus on core"/ "high grade"/ "enhance synergies" anymore to increase profits.
EVEN LAST QUARTER STILL NO PROFITS.
Investors are concerned, maybe the best bet is to sell the pieces. If oil companies are just land, oil and profits, and we lack profits, maybe our operations are so bad that investors would rather sell the land and oil than have us lose more money and sell the land to keep the ponzi scheme going. WHY ELSE DID THE STOCK FALL WHEN WE BOUGHT FREEPORT OWNERSHIP and RISE WHEN SELLING EAGLE FORD? They don't trust us. After's what we have done for the past 3 years now.
AAET is a distraction from totally terrible and inexcusable results.
You're right, Exxon doesn't want us. They know the longer they wait, the lower the price will go or the more likely they can buy the best assets when we get desperate.
Apache Alpine High is possibly the only sh--tier investment in the industry.
“We are the best bet for a buyout and profitability.”
You have a disturbingly inflated view of your own worth. This isn’t an Internet company where proprietary technology can sometimes determine speculative value. This is an oil company. Like it or not our competitors value APC based on solid objects: reserves, acreage positions and infrastructure. An XOM does want a new tech group, they want items that will expand their portfolio and improve their balance sheet. If it can’t be produced, sold or borrowed against it has no value to them. If you don’t get that you really don’t understand this business and if you don’t understand this business how will you ever be able to add value?
The problem with AAET is the inflated hype and egos of it’s promoters. They’ve lost perspective on our mission: finding/ producing oil & gas economically. In that context analytics is just another tool in the toolbox. It’s not always the best tool either. Sometimes tweezers are required instead of a sledgehammer. Failure to recognize that reality will run up project costs and kill profitability.
Analytics is simply the tech du jour. Not just in the oil industry, but throughout the economy. It’s being promoted as the proverbial silver bullet. “Finds oil, cures cancer and ties your shoes at the same time. Only $XXX million a bottle.” The vendors and analysts are making a bundle promoting it and they’ll say anything to make a sale. Whether it ultimately provides more than a marginal and costly uplift to O&G projects remains to be seen. After all, analyzing geologic and engineering issues is exponentially more complicated that sorting through people’s online browsing habits.
If AAET can put their pride aside perhaps they may be able to help. Until then, quit fooling yourself that you’re APC’s savior, you’re not. You’re just another expensive cost center and history has shown that expensive cost centers will be vulnerable when prices cycle back down.
Spouting the uniqueness of AAET shows you've only worked for one company and drink the APC koolaide. You still believe you're the smartest kid on the block because your mother told you. As a fact, XOM and many other companies do exactly what AAET claims to do, only it's just a tool and not a cult of personality (and they don't have to pitch it to vendors for help creating it...) Have you actually gone to a professional meeting and listened to some of the talks and used your critical thinking skills to understand what's NOT said by the authors? And then remember the presented work was done one or two years prior... and that's why it has management approval?
Several competitors of APC are years ahead in understanding where to go, what its worth, and how much to SPEND to get it or make it work. APC spends it's money in all the wrong places. Just look at where the activity is... it's all inherited position from previous management. Not RAW's "genius", ha.
Understanding the data, i.e., being a good engineer, geoscientist, etc, adds far more value than throwing data you don't understand into a workflow to do essentially a look back. The cult of AAET promotes a follower mentality and no new oil will be found with it. If you think exploitation is exploration, then keep at it. Follow the EOGs!
Unfortunately, the A team got laid off or walked out the doors, the B team is hunkered down with low heads and the C team, well, it's running the show.
I hate to be the one to tell you but AAET is p--p. That's right, I said it - P--p! It can't make wells run, move gas or sell product. Therefore, it's p--p. Do you know what a well looks like? Would you recognize one if you drove by it? Apparently, what AAET does best is pat itself on the back and try to wish itself into relevance. Now stop taunting me! You're really interfering with my 4 hour workday.
AAET - Arrogant A*-Eating Twts?
Tiny datasets?! You have no clue what AAET is doing! Our Geology work, GPU computing and the streaming projects are pushing the limits of technology.
There's no one else in the company remotely close! How do I know? No one else has the servers.
AAET is poaching top talent from A Team companies including some you mentioned.
Get out of the way, AAET is the future!
Tiny datasets. No recent successes to correlate to. What dumb--s CEO greenlighted this AAET initiative?
Face it. If you're working for AAET, you were not good enough to work at Exxon, Shell, Baker Hughes, IBM, McKinsey ... You are the B Team working with much smaller datasets. Your A Team peers would be laughing at you if you were important enough to give half a sh-- about. But you're not.
You should get AAET team jackets and go out karaoking. Because that will show all those other low life douches just how cool you are.
Tip. Keep a diary. Someday they will make a movie about the story of how you brought down a once great company.
Data analytics is the future!! It will add thousands and thousands of dollars to APC's bottom line and it will cost the company millions!! It will provide direction for management to run the company with no need to understand geology, engineering, drilling. It will direct human beings but have no soul so it won't cry when people die.
And we will name it RAW.
All you fools forget it's the people in the field who pay your wages. If they don't do what they do, there is no need for your arrogant *! Sounds to me like some of you have a lot more education than intelligence. What a bunch of idiots!
Today was totally b--chin’ at the skatepark. 50 degrees in Boulder while I gradually got back into skating with a semi broken arm. I was escorted out of my office back in 2016 and subsequently get the ‘look’ of turned up noses and attitudes as I stroll by the office on 18th/Arapaho. It’s hilarious, really, as I know the current situation at APC which isn’t good. Ahh yes, as the great Bob Dylan once proclaimed..’The Times They Are A Changin’…
Good bye and good riddance, APC.
JERRY! JERRY! jERRY!
Good thing I got popcorn. Show is starting early!
When I started at Anadarko we had a mediocre BI group, now we have built the best analytics, technology, and innovation group in oil and gas.
We are doing things that TIBCO— THE LEADER IN ANALYTICS, HAS NEVER DONE AND BETTER THAN ALL OTHER OIL COMPANIES!
We are working with GOOGLE, RS ENERGY, ENAXIS, MAPR, and SO MANY MORE that all say we are doing things they have NEVER SEEN BEFORE!
You have no idea how advanced we are, we are moving past what engineers who worked for YEARS on these problems were never able to achieve and we are doing it in DAYS!
Our CIO and CEO is totally supportive and have built us a way to deliver the best technology possible.
The team we have are the best in the industry, no expense spared! Also, I have kicked out the mediocre old talent and fake data scientists. If you want to “talk like a pirate”, spend all day taking pictures of and dress up like a cowboy, then absolutely you will cry in your performance review. AAET should not have to tolerate annoying people and weird crap like that!! Back to second rate employee group if you RRRRR a loser.
The fact that our own people are so stupid and blind to what innovation looks like is just sad.