This is the first time since coming to Oxy 10 years ago that I have really convinced myself that we are actively trying to get bought. Between the aggressive debt reduction, new CEO, divestiture of non core assets (Oxychem), delaying long term project investment, and the countless asset summaries I've created it really seems like the writing is on the wall. I've been a part of sales teams in the past and this feels eerily similar. Anybody else feel the same way?
14 replies (most recent on top)
@210 didn’t get that promotion huh?
I always saw the facts as supporting Oxy as kind of red light district employer. Look for something cheap, don't worry about diseases or safety and take money for sc--wing something over then move on with head held high.
@wp Are you OK?
You people are talking in code like this social media.
@wk Oxy divestment or Gen Z prosperity not certain…but, your comfortable…your post added nothing other then your satiated and who cares about the rest
@wg What are you talking about?
@w9 that’s like saying your children will be worse off than you..maybe… maybe not…who knows or cares…I bet that they will have a dark future
You are always for sale. Maybe not today but who knows ;-)
@ar How do you know that this is what Berkshire Hathaway wants? Can you refer me to an article or interview?
It is all about capital allocation. What you leave in and what you boot out.
The Reservoir and Planning Team have been recently tasked with asset reviews. These reviews highlight deliverability and retirement obligations along with some assets that have known and unknown potential future liabilities. This is pretty standard for a new administration to access assets and capabilities. HR is adding an element of employee benefit obligations…this is pretty confidential stuff…
Two paths:
- CEO/BH wants a fit for purpose leaner and meaner specialized and differentiated player…if this is the case expect GoA non core asset sales and further house clearing in MENA and HQ.
- Sale paint and lipstick 💄 on the pig. Expect the CEO to roll out some initiative guarded by HR …this will be similar to Hess and Marathons pillars of operational success…less assets and more strategic layoffs of older and costlier workers…track the corporate jet as it crosses the globe making deals…save your money…less shopping at Central Market…and yes the job market is atrocious at the moment…
Anything could happen as we all have seen in the past with many companies. With RJ taking over I would think he would like to put his stamp on Oxy by bringing the stock price up before any sale. If one of the majors wanst Oxy it is out of his hands and in the boards, but either way he will be compensated very well for his efforts. Most of these young CEO's just go get the next CEO job anyway. I for one hope he takes Oxy to the next level and the company exist for many years to come under his leadership. He needs at least 2-3 years to put his mark on Oxy.
Would assume it’s XOM or CVX - 6 months?