When the 2020 layoffs occurred, and DW & co gleefully neutered Exploration, it was glaringly obvious to the average employee that this gutting would have long term negative consequences. He we are in 2025, and (oh my! Our volumes are going to tank in less than 10 yrs!!) suddenly the MC realizes that You Need to Find Oil to Produce It (wow!). It’s a little late, but it’s good to see the first stirrings of activity.
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We need a whole new exploration group
What's wrong with the VP?
Exploration needs a new VP.
And that’s why we are making the exploration teams from Australia redundant. Makes no sense. Heard it happened too for the UK exploration team. Now we will rely on India so the future doesn’t look good.
DW and Mr General Motors think there are more Guyanas out there. They are turning down opportunities that so not have the same return thinking they can find more Guyanas.
Just buy producing assets. Arguably, that's lower risk too.
If you want to do exploration, I don't think Exxon is your best option now
DW’s plan is to cut until he impacts the bottom line and not 1 second sooner. While folks in the field can predict this before it actually happens, DW’s “Leaders” would NEVER express any concern other than “yes sir, great idea, sir!” Because they don’t want to go contrary to the Great Leader. That’s the environment he’s created and the caliber of people the PA system advances.