Thread regarding Chevron Corp. layoffs

SJV is doomed, best for Chevron to cut their losses and get whatever they can for the BU.

Even though the writing is on the wall….they will continue to hold on when there is no way that the “regime” of California has a vision of no oil in the near future. If you have a few years to go, you might be able to retire. Those of you who have a ways to go, get out as soon as possible because there are NO lifeboats on this “TITANIC”!!!

It’s time…California will not allow oil to succeed in the “State” of insanity!

Would be the right time to sell SJV. Its going to become more and more difficult to operate a high carbon intensity asset in anti-business, anti-energy California. At least a mid-major operator will garner less attention than Chevron.

Chevron has a long history of being late to the party and doing poorly on asset sales. SJV was once a coveted assignment (it was your stepping-stone to Indonesia then management), now the high-pots avoid it like the plague.

Buyer is IKAV, the company that bought BP's San Juan Basin business a few years ago. it's on this here: https://www.reuters.com/business/energy/exxon-shell-sell-california-oil-jo--t-venture-asset-manager-ikav-2022-09-01/

Looks like once again MW and crew got caught worrying more about CNBC, the dividend, stock buybacks and diversity. Newsome et al banned gasoline cars, it won't be too far down the road that they ban oil and gas ventures in California, at which time SJV will be worthless and cost $$$billions in cleanup and remediation. Heavy oil and steam injection are high emissions and marginal profit, we'll be lucky to get pennies on the dollar.

XOM and RDS got top dollar and have first mover advantage. MW will be sorely tempted to follow but as usual to little to late.

Layoffs are on the way. Chop chop.

Well, that is interesting.

Anyone know who the buy is?