Thread regarding Apache Corp. layoffs

Timeline

January 2015:
New CEO appointed
New CFO appointed
Market Cap: 22.6B
WTI: 47.22

June 2015
New IT VP appointed (later becomes EVP)
Market Cap: 22.2B
WTI: 59.82

September 2016:
Alpine High announced
Market Cap: 21.95B
WTI: 45.18

October 2019:
Alpine High mastermind abruptly resigns
Market Cap: 8.1B
WTI: 53.96

February 2020
Alpine High Impairment Announced
Market Cap: 10.6B
WTI: 50.54

May 2020
Covid Hits
Market Cap: 4.5B
WTI: 28.56

June 2023
New banker bro named SVP
Market Cap: 10.6B
WTI: 70.25

December 2023
Market Cap: 11.05B
WTI: 71.90

January 2024
Banker Bro’s signature deal, Callon acquisition, announced
Market Cap: 9.775B
WTI: 75.15

April 2024
Callon acquisition closed.
Market Cap: 9.8B
WTI: 85.35

January 2025
Hillcorp sale closes
CEO, CFO, and Banker Bro announce layoffs
Bloody VP Monday
Market Cap: 9.0B
WTI: 75.74

February 2025
First wave of RIF
Market Cap: 8.0B
WTI: 71.53

May 2025
Permian Resources Sale Announced
Market Cap: 6.3B (-72.1%; -16.3B since CEO appointed).
WTI: 62.49 (+32% from time CEO appointed)

And these guys are laying us off for poor performance.

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| 3721 views | | 9 replies (last June 15) | Reply
Post ID: @OP+1jvgqs8bq

9 replies (most recent on top)

The entire APA board should be fired for allowing JC t0 stay in his role past the Alpine High write-down. It was a completely self-inflicted wound. Most incompetent leadership in oil and gas.

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Post ID: @4as+1jvgqs8bq

Those numbers are accurate. I bailed in 2018. I saw MM's corruption as he fired people for breaking ethics codes while taking kickbacks like Super Bowl tickets. No wonder the worst performing company can't be bought.

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Post ID: @3p6+1jvgqs8bq

Wait a minute now, are your numbers correct? Just curious because JC has mentioned more than once we are in the best position we have been in 10 years…. FYI sarcasm.. this ship is sinking, time for everyone to bail.

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Post ID: @2be+1jvgqs8bq

And if you add the list of assets divested in all those years, you will probably see that they keep the company afloat by selling its parts.

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Post ID: @n7+1jvgqs8bq

Here’s the listed comp for the top 2 since 2015. Baldy first made the proxy w 3M last year

2015 15.1 6.2
2016 13.4 5.1
2017 14.4 5.7
2018 15.2 6.2
2019 14.3 6.2
2020 14.3 6.5
2021 15.0 6.8
2022 13.8 6.7
2023 13.8 6.7
2024 11.4 6.7

So JC took a cut but not SR. Probably because of his new role. Will he get a raise that matches CBs salary? JCs probably had to switch to boxed wine.

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Post ID: @hn+1jvgqs8bq

Although the execs—and in particular a select three or four or so them—are certainly responsible for APA’s disastrous performance, the Board bears a tremendous amount of responsibility here too.

The Board must think that it is running a circus, given the way that they have stuck with these clowns for so long.

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Post ID: @ha+1jvgqs8bq

Post JC, MM, and AJ’s comp while you’re at it

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Post ID: @dj+1jvgqs8bq

You should post JCs compensation each year as well. Rewarded for the destruction

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Post ID: @d6+1jvgqs8bq

You can’t make this sh.. up!

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Post ID: @aa+1jvgqs8bq

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