Does any inside info on what's going on in SJVBU?
17 replies (most recent on top)
Still for sale
By the way the KR truck rack project is approved.
Better to stay and ride it out than going to sh---y Houston or Midland.
Having worked in that BU , there’s still a lot of delusion on their future. Newsom isn’t gonna just wake up tomorrow and decide to issue a slew of permits , he’s dug in. The current workforce has been lucky that enough career minded folks have left on their will otherwise layoffs would have transpired a few years ago. As other poster said , layoffs will be significant there and unfortunately the folks that have decided to stay and wait wont have many options.
The good news is that Coal is coming back in West Virginia. They are hiring and there is a lot of coal to mine. WV workers were put out of work by the EPA. Severe poverty got worse and towns were just disappearing. That's over for now.
Good luck to SJV.
As of last Thursday I was in a commercial group that supported SJVBU on the crude side. As far as investment, there are no plans for any. We got into arguments with commercial upstream about even investing $3MM for a truck rack at Kern River to take stranded 3rd party barrels when San Pablo Bay goes down this year (they will, I had multiple convos with their MGMT. with no active drilling, all the leases are declining at minimum at a 11% rate. They will rationalize San Ardo soon. If the truck rack doesn’t happen or if OCS comes online, they will also rationalize Coalinga. That is the plan. As far as layoffs, I saw someone mention 20%. Whoever told that person the 20% figure was flat out lying. It will be 50% as SJVBU will be cash flow negative at the end of the year. They’re already talking about what minimums they can do to avoid abandonment costs.
The k-lowns leading this thing still have not figured out how to all pile in the car. It’s emb@rassing to see what this has come to.
OP has a good point out last in first out for O&M. We have some great, hungry younger operators who will be first to go should there be layoffs to our represented workforce
Based, if you get rehired before a year you have to pay the severance back.
If you’re an operator in SJV, don’t bother with the union. They won’t protect you. It’s last in, first out. The BU will inevitably cut too deep and call back the better operators who were at the bottom of the seniority totem pole. If you get rehired within a certain time period, then you are obligated to repay your severance. Read the fine print.
You have quite the gem leading base assets and emerging, so my guess is whomever is remaining in SJVBU will not enjoy it.
Yeah, these are all things I know. I am an operator. Thankfully they can't send my job to India. I hold the hope regulations will change. Best wishes for all.
It’s going to take a pretty big hit. VP said > 20%.
Footprint keeps shrinking tells all ya need 2 know
Unfortunately the SJV cash cow is slowing down. Time to post out or look for other opportunities.
Any corporate function employees in SJV should be looking for a new job.
If you’re a petrotech, you already know what has been happening the last several years. Base business to operate. That’s it. But everyone else is pretty much not needed, unfortunately.
I think they refine stuff...