The Right People Doing the Right Things. They might as well have told folks they walk on water. Faith will move mountains. Poor decisions won't.
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There's nothing wrong with the formula. It's a good formula. It just wasn't adhered to by the current management.
The formula, under Korrell, was kind of cool. SWN had just had a lot of the "right" people in the Overton deal, which saved the company, and the Fayetteville conceptualization, which made the company. Most of those people are long gone. When Korrell appointed Mueler as his successor, Mueller used the formula as propaganda. He started his youth movement, knowing the younger generation knew nothing of his past. In my opinion, Mueller bastardized the formula for his own agenda. Bringing in a wealth of young, intelligent people, tho highly ignorant to the ways of the oil and gas world, he built SWN into a company of followers and not leaders. He knew the older employees would question and the young employees would follow, without question. There is a lot of inexperienced people at SWN. It was just a matter of time before Mueller thought he knew more than anyone else and Chesapeake happened. Mueller walks away with millions. He cared for no one, but himself!