Thread regarding Anadarko Petroleum Corp. layoffs

Future for APC midstream?

What is the prediction for midstream assets?

Seems that the "stock market doesn't understand midstream and their associated debt situation resulting in APC stock penalty"? (something along these lines anyway)

"We (new Oxy) will have superb midstream assets"?

At the end, from all statements made, besides the above, it seems that Oxy views as better approach to sell midstream assets, lower debt and use proceeds to drill more wells as better value.

If that's the case then a long-term plan to stay with new OXy, if your role is heavily midstream asset related, is not going to work. Regardless if one gets a job offer or not maybe better to ring the register now in these cases. I would not expect that the Oxy change of control provisions will match APC's if one needs to exercise them in couple of years from now.

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| 4481 views | | 5 replies (last June 15, 2019) | Reply
Post ID: @OP+Zc3DK0i

5 replies (most recent on top)

Toast

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Post ID: @nelr+Zc3DK0i

I know this much all the wrong supervisors and managers were kept from 2016. And all the ones that were good and kept gas volumes high are gone in the PRB and working for our competitor and beating us. Scratching my head about that move.

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Post ID: @ibxv+Zc3DK0i

You will be sold and working for someone else that is a true statement making less than you are today. If you make the cut and they want you. The question is will they want you, So prepare the party is over . Hope you made friends and did not burn bridges from the folks that got axed in 2016 layoffs . People working at these companies now will remember. Midstream is a small world , Trust me. Good luck to you all. I wish you the very best.

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Post ID: @bigx+Zc3DK0i

See https://www.reuters.com/article/us-anadarko-petrol-m-a-occidental-chevro/occidentals-victory-over-chevron-for-anadarko-idUSKCN1SG0L0

“Another likely candidate for a sale is Western Midstream Partners, Anadarko's majority-owned gas gathering and pipeline business, valued at around $7.5 billion. Occidental has previously sold off pipelines and coastal terminals. The company's view of pipeline assets, said finance chief Cedric Burgher to analysts, is "you don't need to own" them, only to have the right to use them.”

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Post ID: @7qcc+Zc3DK0i

Midstream assets if positioned in the right places can be a very dependable cash flow and expense savings.

Company owned pipelines, compressor stations and gas plants eliminate paying competitors to transport, recompress and process a product, respectively.

With the oil there will be natural gas and natural gas liquids.

Likewise competitors without midstream assets near their wells pay others with the assets to do the same.

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Post ID: @zhf+Zc3DK0i

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