If you've got previous oil and gas experience, then you know how strained companies become in a commodity pricing environment like the company faces now. Internal job postings are gone, and despite what was told to you, I would be willing to guess that the oil price has fallen dramatically since then. Those that told you that you'd have a job were likely under that impression at the time they told you that. Now, I bet any job position openings are gone. They will return at some point in the future. Oil prices will recover, however the lavish spending that took place under AKM should never return. He gave everybody a false sense of confidence and bet the future of many workers on wild speculation that had no basis in reality. As a result, many hard working people now feel they face an uncertain future. You should be thankful you at least have the income right now. There are MANY people who do not. What do you hope to accomplish by whining on a layoff site? You'll likely be found out ( the VP's DO read this site) and risk being singled out to never be hired.
6 replies (most recent on top)
amen....speak....the more we speak...the more people will know of the foulness that is the truth.....of the corruption.....poor management and scruples and business ethics from AKM and TW.
It is ridiculous....AKM began the company with family backing him.....all he had to do was go to daddy and borrow.....I sat in my 5 yr employee merit meeting and listened to his father who was celebrating his 15 yr association with the company tell the stories of AKM and TW borrowing money from him and promising to pay back....
Privileged family money situation from the beginning.....then heard the story of how AKM sold the creditors owed short for 50 cents on the dollar...no not the rapper....then spent some 10 million of gained investment capital on other projects without once paying off creditors....
That is classless and without ethics or scruples
Amen...the production revenue never paid.....the annual spring financing project of high value high interest wells every single year paid a whole bunch and put the company in the hole they are in now....
But hell...SPEND SPEND SPEND....BUILD BUILD BUILD......and OVERPAY ALL your worthless good ole boy managers......Gary Dunlap.......Joe Vaughn.......David Mobley......and the supreme dick head Steve Dickson....ET AL....bunch of worthless overpaid good ole boys....including AKM and TLW
"He gave everybody a false sense of confidence and bet the future of many workers on wild speculation that had no basis in reality." Not true at all. You need to study your history. In the late 90s early 00s, CHK was about to collapse having bet the farm on the Austin Chalk. The stock price was down around $.80 and AKM was one of the first to recognize the possibilities in shale+horizontal drilling +fracking = big bucks. He had the vision to build the company into the #2 Nat Gas producer in the nation in under 2 decades since launching. It's unfortunate that the same spirit and intelligence that built the company from NOTHING into the giant it became is now vilified. Ask yourself this, were YOU in the oil business in 1989? Did you launch a company or were working for a SMALL one back then? Where is that company now and was it ever able to compete with CHK? NO....then STFU.
Fear mongering by the OP manager-type. Hey ass face, the gig is up. CHK is done. This ship is sinking. See you in the funny papers!
How could anyone employed at Chesapeake with oil and gas experience not know the collapse would happen? The production revenue never paid the way. The promote was the money maker. Once the JV partners, spin off revenue, acreage sales and high finance dried up, the jig was over. Where would CHK be today if they had not closed the Southwestern deal?
Stop trying to scare people out of posting on this site. No one will ever be identified on this site, and if they are, who cares? Speak your mind, don't say anything blasphemous or completely inappropriate, and go about your business. Your scare tactics are a joke. "Never be hired", ha ha ha. That's funny.
100% Correct.