The Good, the Bad and the Ugly...

In my opinion, Devon is a very good company facing some really rough times, but still one of the best in the industry. Commodity prices have tanked, and this is not something Devon or any single Energy company can control. OPEC is responsible for the low commodity price. That's the bad part. Regardless of how you may feel about an individual, or the company, this situation is not due to mismanagement or bad people. Remember this when projecting your anger toward Managers and co-workers. Devon leadership would rather not lay people off, but in order to operate the company they are faced with the ugly task of letting some really great people go. How would you feel if the decision were on your shoulders?

In times like these people show their true character. We should do what we can to help one another instead of turning against one another. Nobody enjoys this situation, except the trolls who come here looking for drama. Since that's mostly what this site is about, I don't expect many replies. I just wanted to speak my mind, and hopefully open some others'.

Before making your snarky comments there is one more thing to share; I immediately volunteered to be laid off in hopes of helping someone else - so I am on the list. I have a family, but I am confident and not concerned with what will happen to us. I will bounce back. I am grateful to Devon and will miss working there. Write what you want; I won't be reading this negative crap anymore. I intend to get back to work now and see what I can do to help. I hope all of my Devon colleagues will do the same. Wishing everyone well...

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15 replies (most recent on top)

"Well TOR, that's why we're a called production companies, not control companies."

Here we go with personal attacks. I don't even work for Devon... or this industry. I do invest in it, though. Production companies do have the ability to control their production, especially in this environment. Maybe the likes of LINE or SD have to pump until they die, but DVN and majors should be able to turn their spigots down a bit, as even they are not making money at these price levels (re:HES, CVS, XOM earnings vs prior years). However, they might as well be U.S. Saudi Arabia at this point, as it's in their interest to drive out the little guys and scoop up their assets after they file for BK.

"It is Government's role to help control commodity prices."

But then you'll yell Socialism or even Communism, no?

What is OP?

How is Devon not partially responsible for adding to the over supply situation when they didn't drop rigs until their hedges ran out. Every company/country has their economic limit.

Im not giving up on Devon just yet. All you doubters need to watch this and get your spirits up and your heads back in the game.

https://youtu.be/dQw4w9WgXcQ

This topic quickly drifted into the ditch.

Well TOR, that's why we're a called production companies, not control companies. I'm surprised you know how to copy and paste. You must be in IT or something, because you don't understand the E I am not pulling for Iran, but I do believe Saudi Arabia will regret selling off reserves when it comes time to fund a defense. Which allies do you think will come to their rescue and at what cost?

It is Government's role to help control commodity prices. Lifting the export ban; long overdue and too little too late. No pipeline support. The deal with Iran, WTF is Obama thinking? And now for the icing on the cake - a proposed $10/BoE tax? Time for a change, so please vote if you have the right.

"Commodity prices have tanked, and this is not something Devon or any single Energy company can control. OPEC is responsible for the low commodity price. "

Makes sense, as all the shalers and NA producers couldn't control their production numbers... while OPEC was keeping steady. Drill, baby, drill! Remember that? And here we are.

Grape slurp. Is that troll slang for purple drank? People who know aren't saying...

The severance in the first round is universally bigger than any later round. this is always true, although the second round might be only a slight reduction in benefits. Marathon and Range reduced their payout by about 30% after round one depending upon years of service. Apache's last cut (Late Dec 2015)came with NO (Zero) severance.

If you feel vulnerable then you should volunteer.

The OP would be a pretty clever thing for DVN management to put on here. It's possible that they could get rid of some volunteers with it. That said, it's not DVN management, b/c clever and DVN management are most often mutually exclusive.

Thanks, but your post is just as irrelevant and every bit as facebook-y.

People speak of first round and second round of layoffs. In all reality not a single post as been accurate this year or last. No one that has actual information is talking. This isn't Facebook. No one cares your headed to the store for a grape slurp

Agreed. As much as I want others to possibly keep their jobs because I volunteered, I'd be lying if I said Im not afraid of being screwed over later because I didn't get laid off during the first round.

Speak with your Boss. Each group may handle differently. I have no information on deadlines for volunteering.

Be prepared to immediately question your decision as soon as you've made it known. It's a natural reaction when they say, "once you volunteer you cannot change your mind". Feels better to control your own fate than to wait, if you are in a good position to take the severance.

OP how did you go about volunteering? Did you talk to your boss, go to HR directly? And, since layoffs will more than likely happen by Monday, is it too late now to volunteer?

Shaka sucka mc's shakin da howse and da thug life wit da black fist raised to fight da white power.

Thread regarding Devon Energy Corp. layoffs

The Good, the Bad and the Ugly...

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