My boss has been hinting that there's no longer a cliquey barrier for entry into exploration. I've heard there's a reorg coming. What are the current whispers?
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@ny+1, you've got a good memory, maybe you were there as well. The only field on your list that was exclusively Texaco was Agbami, a significant discovery. A very Stampede-like field, if you know what I mean. The others have asterisks - Tahiti was spudded after the merger, Blind Faith is not even in the same ballpark (reserve wise) as the other fields mentioned, Perdido was driven by Shell (much like Guyana was driven by Exxon, not Hess), and Jansz, like the whole Gorgon complex, came on line literally decades after its discovery - nothing that would have saved Texaco. My point still remains - Texaco in the mid-90's was desperate to shake-up its exploration program and leaned on external manager hires to do it - much like Chevron is doing now. However, Texaco just ran out of time. Will Chevron give these new managers more time? Tahiti lease-to-discovery was 5 years, Guyana lease-to-first-discovery about the same time frame. Will Chevron wait that long?
@cy "Total" cleanout haha
Didn't Texaco lease, drill and discover Agbami in the 90s? Perdido? Blind Faith? Tahiti? Jansz?
Imagine a company with a dismal exploration record stretching back many years, largely due to lack of management oversight (i.e., interest), slim budgets, and managers who worried more about promotions and overseas assignments than actually finding oil. Imagine that company decides to hire away "successful" oil finding managers from a smaller, more nimble company, but makes no change whatsoever to its rank-and-file exploration staff and makes no change to its longstanding risk-averse exploration culture. Think this is describing Chevron? Well maybe, but this was also Texaco of the 1990's. You can fill in the rest of Texaco's history to decide how successful this strategy was for them.
New boss already posted on LinkedIn that she’s coming over
Need a total clean out. That club became became cult under the last leadership
Exploration needs all the help they can get. The Clique has failed for decades.