Thread regarding ExxonMobil Corp. layoffs

Upstream lies and what comes next

Yes- my boss is a liar, her boss is a bigger liar, and the VP is the worst of them all.

They had been spinning pseudo-facts, feigning ignorance, faking empathy, and deceiving us for most part of a year. They lied on Covid, they lied on pip-off, they lied about layoffs, and now they keep lying about how we’re “stronger”.
Apparently, overworked, clueless, and demoralized now qualifies as “improvement”.

They also are under the delusion that people feel appreciated since they haven’t been kicked to the curb, yet.
The actual perception of management is that we’re not appreciative enough for their “hard work and sacrifices”, they haven’t been able to travel and enjoy the perks of their kingdoms. We are whiny and entitled, and expensive, and too focused on doing things right and safe.

We are also not considerate with their pain, as the stock takes a toll and public sentiment grows awry as investors aren’t buying their hen greenwashing. It’s very insulting, we don’t appreciate them pretending to change and to care.

Managers are annoyed people don’t bounce back faster and that some can’t be terminated quicker. They are looking forward to the next “right size” (cost cutting) opportunity.

Our bosses are liars. Entitled, selfish, and impatient liars. And we better pretend to like them.

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| 3751 views | | 22 replies (last March 6, 2021) | Reply
Post ID: @OP+19ydPl3r

22 replies (most recent on top)

The UK divestment also includes EM retaining £450 GBP million of abandonment obligation and proceeds were at least $500 million lower than expectation. Woodmac reckons it was sold at an undervaluation. Factor that in and it doesn't look so great.

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Post ID: @bwsk+19ydPl3r

@1lgl+19ydPl3r

Not everyone can just unload their XOM stock, boombox. The fact that you could and did says a lot about your career. As does your bitterness towards EM. Sorry all those years didn’t work out better for you. Don’t be bitter, just move on and be happy. Time to let go. We got it.

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Post ID: @2lws+19ydPl3r

@1lgl+19ydPl3r

You mean those of us that bought EM at 35 and are up over 60% in a few months, us id–ts? Too busy making money to laugh. Not your fellow or your boomer though, but you can find a lot of EM haters here. Maybe one of them can be your friend.

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Post ID: @2lyf+19ydPl3r

When it comes to lies and incompetence, has anyone noticed the VP and management at CSR in Clinton, New Jersey? Perhaps Upstream's useless management will start to look not as terrible

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Post ID: @2uhk+19ydPl3r

dirty place and dirty business, this place called upstream. eh?

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Post ID: @2fzu+19ydPl3r

“hard for you to see EM succeed”
ROFL 🤣 Lmao 😂

Been watching it “succeed” all year, heck - for the past decade. I’m sure all the laid of people in Leatherhead agree with your definition of “winning”.

I’m glad you think the stock is back. We need id–ts like you to keep buying into the lie.

I cashed out via lump sum and don’t own any EM stock. I know better, fellow boomer.

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Post ID: @1lgl+19ydPl3r

@1qnm+19ydPl3r

LOL back at you. Worked North Sea for years, including prior asset sales. $26k per BOE of production is a great price for these high cost, heavily regulated, high abandonment liability assets. Plus, getting a potential $300M extra to capture price upside, another great job by EM.

And genius, the $20B target is for asset divestments through 2025, not for the initial sale in 2021. I know it is hard for you to see EM succeed, but deal with it. And the stock hit $57/sh today. Happy days are here again!! LOL

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Post ID: @1tlx+19ydPl3r

Lol @1zfl+19ydPl3r
Waaaay short of the 20+ billion A&D expected for the year.

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Post ID: @1qnm+19ydPl3r

@tkt+19ydPl3r
“They think divestments can be a profit center; they don’t acknowledge none wants our expensive garbage. “.

Oops, wrong again.

ExxonMobil (NYSE:XOM) announced today that it has agreed to sell most of its non-operated upstream oil and gas assets in the U.K.'s central and northern North Sea to NEO Energy. The oil giant will receive more than $1 billion for the properties upon closing, which should occur by the middle of this year. On top of that, it could receive up to $300 million of additional contingent payments based on higher commodity prices.

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Post ID: @1zfl+19ydPl3r

Brazil we overpaid by huge amount, Engineering and Projects will be whipped to death to reduce cost. All because of overpaying go begin with. Meanwhile exploration pats self on back for getting acreage with no accountability to erosion of business outcome.

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Post ID: @1rpd+19ydPl3r

Now wait a minute, @tkt+19ydPl3r.
Just because Brazil isn’t a success, it doesn't mean it’s a failure. Just because we paid 10 times more for those blocks than the next bidder, it doesn’t mean that we did not get what we wanted.
Now where did I left my flag pin?

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Post ID: @fhs+19ydPl3r

@omj+19ydPl3r

The point of hypocrisy and selling out is clear, but I guess still too much for the simple minded like you. Sorry, but I am in no way “with you”. Now, go feed. LOL

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Post ID: @iwk+19ydPl3r

@rud+19ydPl3r Hey, Rudy
Are you saying “we are all in this together”, “we are ExxonMobil” ??
Lol.

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Post ID: @omj+19ydPl3r

The point:

It’s one thing to lie to others, but much worse to live a lie with your own life. If you feed daily at the trough with pigs, don’t complain about the smell.

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Post ID: @rud+19ydPl3r

@rqj+19ydPl3r - agreed

@dny+19ydPl3r - I think any rational person would choose to work less for more money

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Post ID: @lsf+19ydPl3r

What happens next is that the Upstream will try to look more like the downstream. Adopt their titles and pay scale, and tell Darren it’s all great “again”.
Pat themselves in the back, call it solved, and see it crumble.

They think divestments can be a profit center; they don’t acknowledge none wants our expensive garbage.
They think Guyana will save the day; they don’t want to acknowledge the gamble Brasil is a bust.
They think the market will correct; they don’t want to acknowledge that their bet to be the last dinosaur standing is doomed.

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Post ID: @tkt+19ydPl3r

Amazing what Money and power do to people!

When the market turns I just wish a lot of people leave the company and Exxon maybe would learn something....but we know This won’t happen

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Post ID: @fwy+19ydPl3r

What’s your point?

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Post ID: @xjq+19ydPl3r

So all of your self righteousness can be silenced with money. Some would call that a coward and no better than those you complain about.

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Post ID: @dny+19ydPl3r

Because pay is excellent and golden handcuffs.

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Post ID: @rqj+19ydPl3r

And you have not left EM because ??????.

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Post ID: @jgh+19ydPl3r

So very true, cannot agree more.

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Post ID: @sxg+19ydPl3r

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