Noble may not be the best but they are still alive and I am thankful PS: To the old Rosetta execs, don't plan as if oil is a one way street to $200 / bbl and do NOT over pay for assets. At Least Noble got Rosetta assets for half price. I would say the Noble execs win
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If you post a picture of Homer Simpson next to a picture of the Noble CEO you really can't tell them apart! Has anyone seen them in the same room together? Could they be one and the same?
You poor noble employee. The noble management is a Dilbert comic strip.
"Noble may not be the best". Thanks the understatement of the year! ha ha
Probably true. The last layoff was targeted for anyone over 50 who was not part of their lame management team. So most of those people are gone now. 40 year olds are next!
anyone over age 40 better pack his office now, the time is now
Don't confuse working at Noble with any kind of job security. They have proven that they are willing to show people the door. From what I hear they are getting ready to do it again. Their third layoff this year. They are poorly managed. Poorly managed companies resort to layoffs. Noble likes to compare themselves with Anadarko and EOG. Neither of those companies have laid off anyone yet. They may depending on how ugly this gets... but nothing yet. Neither has Carrizo, PDC, QEP, SM Energy and many others in this space.
Don't confuse gaining time with security. Noble may have had slightly deeper pockets than Rosetta but they also have much bigger commitments. Leviathan alone will be a challenge to finance in this environment. The additional cash flow needs and debt obligation from Rosetta will only speed the drain on Noble's limited funds. Plus how is paying half what the original buyer paid for resources a good deal when the underlying value of those resources has fallen even lower? The truth is Noble management got cocky and bought a company too soon thinking the market had bottomed. Their premature actions only made surviving this downturn tougher. Take advantage of the extra time you have and save as much of your paycheck as you can. This isn't over.
We will see how "thankful" you are when you get your pink slip. Which will be coming soon. There are no "productive" projects at $40 oil... and sinking.