Is it when too many critical roles are cut? When we lose so much in-house expertise that we can’t function? When too many jobs are outsourced and everything starts to fall apart? My team has already lost so many people. There are barely a few left I can truly rely on. The work we’ve been doing is suffering badly, and I honestly don’t know if we’ll ever be able to recover. It’s all becoming unmanageable.
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For precedent, take look at Exploration. Not that we were ever that good at it, but we succeeded in scaring away / EOI'ing every explorationist worth their salary, then populating Exploration management with diversity placements and inexperienced high-pots. Results? Inactivity and poor strategy. How else can you explain investing in Mexico and Brazil and discovering nothing? Passing up Guyana when the ground-floor opportunity was there? Not a single discovery of any merit in the last decade. Yes, decade. I got a chuckle that we now have a new General Manager of Exploration Excellence, and of course, this person hasn't discovered a drop of oil in their career.
It’s when we have another Angola platform … or worse
And MW and that whole bunch of inept, uncaring fu----s have blood on their hands
There are plenty of engineering contractors to bring in to fill the gaps. It won't be pretty but will serve the purpose until Engine gets rolling, if ever. It's easier to let go contractors then direct hires.
When we start winning in any environment and when we achieve higher returns and lower carbon. At this point we will look like every other Independant oil company with only shale production. Someone will realize we went too far. All we will be able to do is drill wells and negotiate right of way deals and sponsor Taylor Sheridan shows on TV.