That's a lot of people doing a whole lot of nothing.
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They need to cut costs to afford the stock awards for the Execs. SEC filings came out today with the stock awards:
Hager 99028 shares $2.653MM
Vaughn 37720 shares $1.01MM
Taylor 44,152 shares $1.183MM
Rudolph 34560 shares $926K
Richels 143648 shares $3.848MM
Mitchell 17920 shares $480K
Marcum 34560 shares $926K
Now doesn't that make you feel better about being unemployed?!
Agreed. Devon's cash flow comes from being an operator not a driller...
5000/5 = A whole lot of jerking off by about 4900 people
I didn't realize there were 5,000 in drilling....
Well there is no justification really Rigs don't pay the bills granted once a hole is Drilled and we get back the money we spent to drill, put equipment in it and keep it maintained to pull out oil and/or gas then it starts making us money! Idiot! But if you don't keep drilling you stay exactly where you are and that's all you got! And eventually production slows down and then how do you justify that. Sure there are a lot of loose ends because everything is slowing down and ya sure there are people at Devon who know layoffs will happen and they will be the ones to go but honestly know what your talking about! Production keeps the lights on at the moment. Till D day stfu!