Alright folks. Chesapeake is getting hit hard right now. Do we follow suit?
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Accenture is running all Devon non-drilling departments? Interesting that an IT consulting firm with less than 20 people on the account runs an entire company's non-drilling business. Get a clue!
They always deny, so people won't start leaving on their own en masse, or start taking clients, downloading files, whatever. They want you to leave when they decide, and not a minute sooner.
So are you saying that we are a fat cow that is destined to sink?
CHK downsizing in 2013 was reorg and getting rid of the old guard. CHK downsizing 2015 all economic driven. The leanest and meanest companies will survive this downturn. The fat cows who do nothing and try to carry people will sink.
Chk had big layoffs 2013 I think they have bigger problems than oil prices
Devon seems to handle their business a little better
Define better...
Bottom line hedges are coming to an end or have passed and commodities will NOT recover anywhere near the grossly inflated numbers brought on by the bribed speculators that got all of us here. OPEC can and will ride this storm out long after all of the independents are absorbed by the big 3 (Exxon, Shell, BP) who can survive this downturn for years if necessary. To make matters worse next year is an election year and if Hillary gets in we are doomed as an industry regardless. With regards to contractors Accenture is pretty much running DVN now across most non drilling departments. This is now referred to as the "new normal" so get used to it...
Just had a VP in a meeting today deny layoffs were in the works when asked about it.
I think Devon is better fiscal than CHK. They were having money issues before the downturn, That being said I do think Devon may have to tighten up to ride out this low price storm
They are laying rigs down and shedding contractors hope its enough to ride this out