Thread regarding Whiting Petroleum Corp. layoffs

Volker made multiple Billion dollar mistakes. Even with his "I am King" ego, he admitted to some of them. Now disgraced Holly is making more mistakes. Make no mistake, Brad is looking out for Brad not Whiting or its employees.

It's quite sad. The company is running out of good inventory and its wells are turning more gassy, which does not bode well. Does anyone know how deep they are cutting into the geotechnical team, and other revenue-enhancing parts of the company? This feels like a desperation move.

https://www.cpr.org/2019/04/16/former-anadarko-employees-say-denver-office-was-beset-by-culture-of-male-s-xual-gratification-bullying-and-retaliation/

You have a lot of good points.

It does seem like half the people at Whiting are either a 'manager,' 'supervisor,' or 'team lead.'
A classic case of too many chiefs, not enough Indians.

As far as why Whiting hired a failed CEO who at the time had s-xual abuse allegations against him: sadly, that was the best they could respectably get.

Whiting has been know to be a house of cards, for a while now. They were claiming that the wells would produce 3 times as much as they actually would, and that was apparent to anyone who looked for themselves.

Whiting simply got it's employees and investors to drink the kool-aid, through high compensation for employees. They pulled the wool over investors eyes through presentations where they only showed part of the data and through continually promising that they had just figured out some secret recipe for completions.

It really wasn't the talent of employees, it was the poor decisions by management. They drilled when they shouldn't have drilled. They bought when they should have sold, and they sold when they should have bought.