Existing operating model was developed after covid when they acquired a company. ConocoPhillips was a great company before but that 4 to 1 ratio in the Permian, compromised the core.
The need to liquidate the artesia New Mexico office and part of Midland office has been conversation for 4 years. That shift will align with SPIRIT values.
Corporate finally confirmed that vendors have to pay to play. Hang on to your cowboy hats, it's going to get bumpy!
Let’s make a deal. Any deal. Look busy.
The geniuses that made COP exit the Permian just to turn around and buy back in need to go!
@a3 it was low due to covid as was other stocks 😂. Houston salaries are lower than Permian salaries for office personnel. We will see how it comes out from the wash.
@OP Hilarious! COP stock is currently LOW but is still up 42% since acquiring Concho! Yes, the problem is COP kept too many people after the acquisition. Should've laid off more in Houston!!
@a1 Middle management is the first focus of the company reorganizing COP. It's going all the way down to the operators level.
Do you think Midland will have big cuts to middle management and will they bring in people from Houston to change the culture?