if you’re planning to stay in O&G, private company outlooks are better than public ones.
Someone mentioned this so I am interested in what are the experiences of those who have worked in both types of companies, where is it better to work? Also, do you think the outlooks of private companies are significantly better than those of private companies?
https://www.thelayoff.com/post/@ulj+1cw2qnRK
Agree with the previous comment.
No ESG bu-----t in any form. HSE responsibilities are on the vendors, and also all equipment costs and liabilities.
They operate a bit in the grey area when it comes to HSE and price “negotiations”.
They probably have 20% of staff for 4x the activity in onshore assets. So way lower burn rate. Believe it or not, a lot of them were cash flowing 2017-2019. The public companies just had this epiphany in 2021: Maybe as a business, we should be turning a profit.
It’s all relative. Who within a dying/transitioning industry will be around longer?
First of all everything is in flux, so whatever seems like the right move now might turn out not to be. At the moment I tend to agree that private companies are poised to have the best opportunities. I believe this because of recent trends with activist investors pressing bigger companies on diversifying and charting a course out of oil and gas. Also, International companies will be selling their asset in US basins at a steep discount. Smaller companies will gobble these up and have great acreage to develop for the next half decade or so. Just my two cents, not sure it’s even worth that much.
The only companies that will thrive are national oil companies or companies with deep pockets. Financing has dried up so smaller players will either go bankrupt or get bought out. I doubt there will be many private companies left. Independent companies with strong financials are what I would shoot out and they are mostly public. Majors will get pushed by share holders to change their behavior and it's already happening.