According to multiple posts online, DVN is selling assets in 4 areas. So does the total employees laid off include those working in the assets for sale? Or are they an addition to the total number?
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False. I've signed rig contracts recently.
That is very true!
False
Devon is laying down all but two rigs in Cana per capital budget cuts. Should be announced tomorrow.
re: Tower ownership: http://www.oklahomacounty.org/assessor/searches/AN-R.asp?ACCOUNTNO=R010017150
DEVON WORLD HEADQUARTERS LLC for a cool $450 mil
given the list of blood vessels devon is planning on draining, only the Permian has active buyers. Rockies, Utica or even the Eagle Ford would attack some cash. Basically the offering is late.
I don't think you can cover the drilling commitment of the felix acreage in the next two years from the cash (<500MM).
How about the building? Do they own the thing?
why sell existing production for a faster pay-out than you can drill new wells for? - Because we need the money! ...Oh well, at least we have good six sigma processes and "big data"
You're ALL fired!
Considering there hasn't been a "number" announced what does it matter? The field personnel will likely go with the asset and have an inside track to getting on with the new buyer. Everyone in the tower who is in an area not being divested likes to think they are safe but shouldn't breathe easy just yet. When cuts are big and a there is a strong possibility of restructuring the groups as you currently know them things can get shaken up in a hurry.
In addition. Total number still yet to be determined. Or announced rather. Will be independent of the asset sales.