It was a big gamble and not many things were going smoothly, but had oil been stable through 2020, I think we would have been alright. I saw teams of people really pull together and step up to the challenge. Oxy still has a lot of good talent, but sometimes the odds are just stacked against you. Wishing my L-APC, WES, and Oxy families the best of luck!
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I sure hope you are right. I work for Oxy, but I also have a lot of stock for a rank and file worker. I actually think we will make it as well, but I may be gone in the process do to layoffs. I am wishing everyone the best and just hope the oil business turns around and Oxy pulls this out. For the last few months I have been as negative as anyone out there, but realize any bad I wish is just wishing bad things for myself. I have met many a good person at Oxy so I am going to try and go the positive route for now.
OP
Swaggerhound sounds like a handle of one of the Apache Mafia (all loud-mouthed, crass, id–tic, lying, low-skilled BS artists) that brought their ideas to Oxy under VH’s watch.
Gambling is the correct term, but not what a CEO and EC should be doing.
The Apache Mafia sowed the seeds of destruction of Oxy even before the bird-brained APC acquisition. And most of them were Apache rejects too.
Disgruntled and nitwits - yes that's all that's left. Good summary. Unless you are management that sold your soul for a nice retention bonus.
"Oxy still has lots of good talent". Really?? What about talent that left with VSPs, gone with contractor cuts, and will go with salary cuts. All that will be left is those on the take, disgruntled LAPC folks they couldn't get rid of, and those with no where else to go or those too naive to pull there head out of all the busy work they were given.
Oxy is not a perfect company and there is no perfect company out there either. Every Company is made up of flawed people. We all have our individual flaws including all those writing positive and negative thoughts here. We shouldn’t forget the good days and good leadership shown then. Times are tough, for sure and if we channel our energy towards finding solutions we will get ourselves out of this. I strongly believe that This difficult time will pass, and we “could” come out stronger than ever. I have seen walls between teams reduced significantly due to everyone suddenly realizing that “pondering” or “playing politics” won’t get you any raise or promotion in 2020.
FYI- I am just a regular OXY employee that truly believes in the Talent we have within us in OXY.
O&G companies are Ponzi schemes living in a financially engineered distributable free cash flow world with dividends exceeding their real earnings. I partially blame the banks for supporting this.
OP, I don't think you understand the rules. This site is only for complaints and negative comments. You will be voted off the island next time you dare to say something positive.
OP
You are dead wrong!
The shale chimera was laying waste to O&G companies long before the APC acquisition and COVID-19.
Shale oil companies were able to borrow huge sums to raise USA oil production to very high levels WITHOUT any free cash flow. The Apache Mafia (brought in by VH) loud-mouthed charlatans kept promising (just like their counterparts in other O&G’s) that new efficiencies and economies of scale would keep coming but they never did.
And how is it that economic laws of supply and demand suddenly are to be suspended? The highest cost producer(USA) kept trying to take market share from much lower cost producers (Saudi Arabia and Russia) and expected no consequences? That is the definition of insanity.
You are delusional, a member of Oxy HR, member of Oxy EC or a relative thereof.
Even based on its original premises, the OXY APC merger was bogus.
We all need to stop making excuses, especially the executives. This is not the result of OPEC's shenanigans or the coronavirus. This is the result of mismanagement of O&G companies, because risk is always around the corner. And it was not accounted for.
Shoulda coulda woulda...