Getting closer and closer to the real value of what you people and your company are!!
21 replies (most recent on top)
Axe to grind? Everyone on here has one with this company...that's why we're all reading this. Loser? You sound like the type of person that deserves to be on that sinking ship, because you have no integrity and no spine. Both well admired qualities with that sh–hole org PUTS on OXY
OXY stock will be below $15 by this time tomorrow. This APC acquisition was the dumbest thing ever.
@1kva: The EC will pay the price? Seriously?!? They will ride off into the sunset with their golden paychecks and packages. Them losing their jobs over this major fiasco and boneheaded timing of purchasing APC is not them paying the price. We will all be the ones paying the price. Those of us who need paychecks to feed our families and pay for our mortgages. I was originally a VH fan, but I have to say that since the whole APC deal, she has made me a big fat liar. She has ruined our company. There is no way that we all survive this. But the EC, they will be just fine, whether or not they're let go. Incompetence is rewarded.
WTI is down over 20% to $32.77/barrel as I write this. Every oil company stock will go down tomorrow by 10% or more. The Saudi production/price war is on and it is real. If this goes on for a month or more, then get your financial house in order and be realistic about losing your employment. This is not funny and ignore any poster who jokes about this.
Oil opens on the market at 30.00. Monday is going to be a bad day.
That is why people should diversify, like me.
Many people have not worked since the downturn of 2014/5. Now their stock portfolios are being wiped out. Severe financial stress.
Here it comes again. It is crazy how OPEC can put our industry and country on it's knees. I have been in the oilfield since 1982, and been laid off a few times because of the price of oil and companies I worked for being sold. About all you can do is save for the bad times, and basically try to take a vacation when there are layoffs and no jobs. If I could ever give any advice to young people it would be to live on 70% of your salary and save the other 30% for these times. They will come and go, and you need to make your money while times are good. Better yet train to do something out of the oil field and avoid the big downturns that take many a good hand down. The backlash will be people losing houses, not being able to pay for expenses, and so on. In this industry it is all about saving for the rainy day. If you know that going in you should be fine. I know some people who still have not found comparable jobs from the 2016 drop in price. Many have good educations and masters degrees, but it does not matter if no one needs you. I wish there was better news, but this time it has been a quick downfall because of the virus. OPEC, and the debt load. On the bright side things will turn around again because politics will be worked out and so on. I fully expect to be let go from Oxy this time unless something happens fast to correct these tough times.
In 12 months, there probably won’t be an Oxy. At least not in a form similar to today’s. Vultures are already circling. Best to start planning your exit now so you’re not caught by surprise.
Another 10-15% drop will put it where it really belongs. In case you don't read the news, Russia has broken with OPEC and will not cut production in order to hurt the US oil drillers, especially Permian Basin.
OXY will have no choice but to cut resources. Older employees will be most hit - may even have another volunteer program.The entire Energy industry is under severe stress with over supply of oil. Unfortunately, the by product will be a massive decline in the Houston Real Estate.
From what I have heard and read Oxy covers the dividend and loan payments with current production and hedges. The stock at this point is not really a reflection of the company. Just look at all the other companies that are taking a beating as well. In the end the oil price will drive growth, and I can see a lot more layoffs and less spending if the prices keep up, but that is going to be industry wide. If the dividends do get cut it will be hard for the EC to stay in place. Before Anadarko the company was doing just fine, and if the gamble takes Oxy down the EC will pay the price from the stockholders for sure. For all those folks out there selling in the twenties it may come back and bite you.
I have a feeling there will soon be lots of blood in the oil and gas industry. Its going to be brutal.
@1cyy+13QPqBnd, Oxy's debt is two times of its current market value, which I guess make it difficult to be bought out ...
The dividend cut is coming, ouch.
Could occidental possibly go bankrupt or be bought out?
Why would you want to come on here and wish people bad as a whole. There are many people industry wide going to hurt, but you have your axe to grind, so grind away loser. You just prove you are a loser as a human being.
F:ck you pal. No one doubted it was the whole market. We’re just stating the fact that OXY is in deep sh!t.
Dumb a*, this isn’t just OXY, this affects everyone. Even if you’re hooking on 1960, the price of oil affects your business in this town.
Now over 15% down...sitting at $26.66
It is now over 13%.