Here come the $30's.... At least it's warm weather for you to go get another job...
22 replies (most recent on top)
@1jg no, I’m the boss. And if I were yours, I would tell you that if you can’t say
with 50% less words, you’re just jabbering. I’ve seen $10 million AFEs with fewer words than you used. I would suggest a business communication class for you. If you can’t do that, I suggest giving a trusted colleague a red pen and asking them to trim the fat from your “novels”. If you can’t do that, I’d put you in a position where you just had to enter data into a spreadsheet, if that’s not already your job.
One can only imagine what your work products look like. Your boss must have a great time with your reviews.
@1hw too long. I fell asleep after the first sentence.
I did make a factual error. Oxy did announce its plans to counter Chevron on 24 April 2019, and Carl Icahn announced his acquisition of 4.4% of Oxy's shares on 2 May - six business days later. It is interesting that Carl purchased 4.4%, just slightly below the US Securities and Exchange Commission rule requiring those purchasing 5% or more to announce within 5 business days. Consequently, I do not know when Carl actually purchased the shares but it was likely just before or just after the announcement. But again, Carl Icahn has been and is a corporate raider; prior to the Anadarko acquisition, Oxy was in a position to either "eat" or "be eaten". Carl has not been and is not now a friend to shareholders or employees of the companies he raids.
I realized after I submitted, I had made a typo that might confuse some. Here is what I intended to type about midway through the first paragraph.
"That is why he was so very mad that Vicki countered his plans by pursuing Anadarko so vigorously . . . ."
@1d5 - assuming you're an "old-timer" with Oxy, and you're legit upset, then I'd ask you to think about the following before judging current management and the Board of Directors to harshly. Remember our "friend" Carl Icahn first announced he was the "beneficial" owner of 4.4% of Oxy stock on 2 May 2019 - before any announcement of us wanting to buy Anadarko. Carl does not "buy" shares like that unless he has plans as a corporate raider. I believe it is reasonable to believe Carl's plan was all along to breakup Oxy into various parts/assets and sell them. That is way he was so very mad that Vicki countered his plans by pursuing Anadarko so vigorously - even going to Warren Buffet to secure the funding to avoid a shareholder vote. The result was that Carl's plan to breakup Oxy flopped and eventually he sold his shares.
Also, it is interesting how "hindsight" about risk is raised. Looking back we have the benefit of knowing oil would go down significantly in early 2020. If you KNEW the pandemic was striking, then either you should have raised an alarm or you were a part of a conspiracy to ki-l millions. Given the prices at the time of the Anadarko acquisition, the thwarting of Carl's plans to break up Oxy did look to be viable, even with taking on all of the debt.
I cannot comment on the recent acquisition as I have not researched it much. But as to Anadarko, I believe it is reasonable to assume Carl Icahn was going to be Carl Icahn and that his plan all along was to break up Oxy and sell off the parts. Vicki (and the Board) saw this and was able to out-maneuver the corporate raider, Carl.
Perhaps all y'all complaining about Oxy should try to go get a job at Chevron - looks like they are firing folks. WARN notification said 575 are being laid off permanently from Hess Tower in Houston since the acquisition of Hess has been finalized. I can only imagine what Chevron was prepared to do if they had acquired Anadarko.
But haters going to hate.
@1an there’s only one poster who keeps bringing up Piper Alpha. Keep in mind Piper Alpha was 40 years ago. Suggesting that the current employee base or even current management is responsible for the actions that resulted in the Piper Alpha tragedy is like suggesting that the current owners of a house or evil because of what the prior owners of the house did. Or it’s like suggesting a person should go to prison because of the crimes of their great great grandfather. This poster is simply angry about the perceived wrongs the company did to them. It’s pretty sad that anyone would have so much hatred that they have to come back week after week to post insulting things on a message board. Let it go, let it go.
Many of us old timers are frustrated at how a competent well run company that paid the shareholders a high divided ended up in the current condition. There is too much debt for the company to get anywhere with todays oil prices. There was very poor risk analysis done on the two major purchases. That’s why we are upset.
LOL at the losers that always come in and bring up Piper Alpha. You boomers have nothing better to do. Find a hobby.
@19j we know you are replying to your own post. Either learn how to do that better or don’t do it.
@wp People thumbed you down as if all the facts you posted were made up and didn't happen. Shows you are right about Oxy.
@wx , No, this poster is serious. He/she has been here before. Always the same gripes. Full of rage at the company. Must have been shown the door. If you want to know why, think EEOC.
@wx strike a nerve again? Too many facts? Too many proven examples?
You literally proved my point with nothing but an insult as a response, Mensa. Gee, why is Oxy the clown show of oil and gas?
@wp Yikes! You can almost see the red face and bulging forehead vein.
(Something tells me this poster is pranking us. No one is this unhinged.)
@pf YET again. YET AGAIN. Yet AGAIN with you people. I have to YET AGAIN post the long list of fact based reasons, Oxy culture, examples, incidents and business decisions that make up your company.
Piper Alpha and the disgrace in attitude and accountability with the largest loss of life in oil and gas history, Maynas Carijano environmental damage and total lack of accountability over a 30 year period, the Cano Limon massacre due to Occidentals lack of professional vetting over security contractors, running from accountability in Bangledesh and expecting Chevron to clean up their 140 billion BDT debt, the Oleum spill, the Love canal national news story affecting families for decades, clean up of the Copper basin, the corruption and back door deals over Elk Hills - then, blowing up Elk Hills with their 35R gas line explosion, being ranked 55 on the Carbon Majors report and in the top 100 producers of cumulative greenhouse gas emission for a 27 year period, lobbying in Libya including ties to Gaddafi through investment firm bribery, Colombia! Cutting and running from California, a billion dollar loss in North Dakota right up to price fixing in 2024 over shale oil and the consistent turnover of staff through bullying, persecution and targeting of anyone different who speaks up about the playground level environment. Need I talk about the Anadarko circus that shows the real business intelligence of your company? The worst part, and by no means the last, is the incessant belief that the people you persecute have no recourse to hold you accountable later in life coz all you do is put that totally vacant look on your vacant eyed face YET AGAIN and dribble the words 'Whats wrong with Oxy' into your bib on the very next post that criticizes the company - all the while providing ZERO examples and facts to counter ANYONE who calls you out for what you are.
Too bad you didn't save all that money and two wasted acquisitions to have had a shot at HESS. I'd take 30% of 11 billion barrels of proven oil than to keep chipping away at the Permian. Chevron is laughing all the way to the bank.
@nh Please expound. First, who are “you people”? Second, why do they deserve it? Last, what do you mean that Oxy is ignorant of “that”?
Are we to assume that you think any employees that lose their jobs deserve it, or is it just Oxy employees?
I’d like to know more of your thoughts on this.
@ae+1k07qnb1s Ever think you people might deserve it? I know you earned it, no matter how much you think otherwise. Oxy is nothing if not ignorant to that.
mid 40's...feels like a dead cat bounce to me.... wait till the clean energy initiatives get nixed... remember how to find grease? endangered species list you are.
Last week Oxy went up to the mid-40's. All oil stocks are moving back and forth. I for one am glad we have a CEO that can see past a few days. Come back in a couple of weeks and see where your prediction sits.
I’m so glad that makes you happy. Maybe people will even lose their jobs. But until then you can only imagine.