Any news or plans for the Eagle Ford asset? It's our best performing asset left wonder what the management plans to do with it.
8 replies (most recent on top)
Current plan is to go to 3 rigs all Nabors. That's what we are being told by Houston as of Sunday morning 6am. Will have final word on Wednesday. Still have 87 wells to drill this year.
As the saying goes - "Old age and treachery will always beat youth and exuberance". Regardless of what you youngsters may think, there is a reason why the company NEEDS senior employees, that is associated more with good decision making rather than raw experience. We have been through this process (low oil prices) many times over the years and eventually the cycle will right itself. So you should stop casting stones at the "seasoned" employees and worry about keeping yourselves above water. Besides it is much easier for at 40 something to find a new position than someone in their 60's since we command a much higher salary.
Fsgp- no I don't think that has anything to do with improving the price of oil. I would hardly call 40 year olds with 20 plus years of experience "inexperienced." On the other hand, 65 year olds have had plenty of time to raise their families and should have pensions/social security/ other retirement plans in place. The ancient ones have had 40 plus years to accumulate wealth.mtime to gice younger qualified people a chance.
HR "check-ins" is just an opportunity for DBJJ to get up and hear herself talk about her "exit" strategy and remind everyone else that they should have one too.
1dpb - and you think getting rid of the "ancient" people is going to fix this current oil price situation? So we can have more direction from inexperienced people who make rash and uninformed decisions, such as yourself.
When HR says there are no plans for layoffs, you can bet there will be layoffs.
Maybe the people who make these decisions can get rid of some of the ancient people who are old enough to collect social security
Current plan is to reduce rig count from 8 to 5 and from 2 frac crews to 1. Then they will reduce contractor work force in the field accordingly. No word on how the office head count will be affected yet apart from the "HR Check In" on the 10th floor saying that there are no plans currently to have anymore layoffs. Currently