Thoughts on the new announcements...
19 replies (most recent on top)
Maybe settlement results will be revealed in earnings (or lack thereof) call
Settlement came after it was certified as a class action earlier this year. Settlement details haven’t come out.
From what I read, AH case is very much alive and well.
In Feb (2024), a judge certified the class, which is pivotal. To have a class action case, a judge must certify the class.
Grab your popcorn. The show is just starting.
AH lawsuit settled? How much?
There is a tragedy of many good people fighting against a few very bad people to keep the company going. There is no clear leadership. There is no clear direction for the company. Successes are very often accidental, in spite of the brain trust's statement to the contrary.
Last decade, SR wanted to divest Suriname and JC stopped it, but not for the reason he brags about now. Both are clueless and keep any intelligent conversation out of the picture. Add MM to the list and you have the trifecta.
The Titanic hit an iceberg named JC years ago and has been sinking ever since. Maybe some of the new BOD members will act responsibly
AH lawsuit has settled, I believe. JC and SR both the same. They combined to destroy APA shareholder value. Both of them and the BOD needs to go. Worst managed oil company in the patch. Need an activist investor to get involved to save this sinking ship
Maybe JCs in the way out since SR now has the President title. Was it to keep SR or to send a message to JC? Maybe both
SR name also in the AH lawsuit… that prob will settle out of court
How come SR didn't make the cut for Board of Directors? "I deal with the godda-n customers so the engineers don't have to! I have people skills; I am good at dealing with people" I overheard SR advocating why he should be on BOD instead of JC
Apa management is a joke. Upper middle and lower are all clowns and circus animals
You can be assured that JC is on his way out. SR and LM (Chairman) both ex BP. The writing on the wall was apparent when SR was named President. From here on out the rest is just rearranging the deck chairs on the Titanic. The North Sea is an anchor that dwarfs the GOM debacle. Egypt is failing and a acquisition in North America just prolongs the inevitable. In the end only Total will win in Block 58 when Apache craters.
It’s hopeless. DP added absolutely NOTHING. He can talk about the ‘big picture’ somewhere else. SR, with his BP obsession, is taking over. But maybe it will result in JCs departure. Odd combination of functions (communications and marketing). You’re marketing production not the company you id--ts. But it’s diversity brownie points.
SR knows how to manage and count the beans, but strategy…
Entirely predictable. The executive team will be recast under SR even though he along with JC are responsible for more value destruction than anyone else other than the BOD who are supposed to be overseeing this train wreck. How long before TH is out on her backside and the functional model is reversed?
Sounds like another demo for TC
I’d love to know how BH is feeling right now. And agree with previous post… too many VP’s for the size of this company!
How much value really DP added?
Apache has a lot of VPs.