P66 is literally a dumpster fire. I am utterly amazed that industry reporting and publications are remaining so silent. It could be that entities or people that stand to lose a lot are pushing the stock price up to get out. Make no mistake, there are significant internal issues and deficiencies that are on borrowed time. The reality I believe exists is that the damage is irreversible. The connection from top to bottom has been severed. There is no longer any trust or pride. It has become a purely transactional relationship between company and employee. One of the greatest petroleum stories ever in American history is on the brink of ending. Bartlesville will never be the same.
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Define “top to bottom”
It is leadership failure. It is not the assets, not the employees, it is failed leadership and a broken culture that does not mind being a follower.
I have spent 20 years under a variety of leadership at more than one company in the industry. This is by far the worst senior leadership to mid-level leadership working relationship I have ever seen in my career—has anyone seen an ELT member on their floor for a meeting or walking the halls? I have not seen it in years.
This C-suite that is totally disengaged from the day to day work, entrusts leadership to those that won’t speak up about the real issues, including broken systems, poor data quality, cumbersome processes, ethics violations, overstaffing or understaffing, a trading organization that may or may not be adding any real value but costs real money, and the list can go on.
Unfortunately I agree with the OP that something major will happen at some point. I suspect it will be a financial issue given our data quality, debt levels, and systems issues and processes that are just being further complicated by a rushed project led by a leader that ran sales at an accounting firm.