I was a Denbury supervisor but quit about 3 years ago. Denbury treated me well but clearly had no direction.An engineer would lay out his plan and someone else above him would change it the same day.Denbury changed engineers like I changed socks. Most companies do. At oil $100 oil Denbury got away with missteps but now $30 oil has exposed their horrendous management. Oil prices are just a part of it. I know a lot of the people they layed off and Denbury did not pick the right ones. It's my opinion and I do respect that everyone has their own biases. No easy way to lay someone off buts it's done so pray for those who left.
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Well said and good attitude. Companies are made up of people and people are gonna make mistakes. No doubt mistakes made but whether or not right/wrong people chosen time will tell. Everyone has bias as you said.
Mix of people let go...old, young, experienced, not at much experience. Heard managers decided on who was cut and it was done looking at a long list of variables. Not in anyone's best interest to let someone go if that person was deemed critical to the survivability of the company but no doubt very, very good, qualified people let go.
At $100 a barrel oil, every company got away with a lot, at $30 companies have to make right moves or long term they will not survive. This isn't a company challenge, this is an industry challenge.
Everyone's an expert now.
3 years ago?? And you're still stalking the Denbury board? You sound like that old girlfriend who is still hung up on her ex.
People I know there say all the moves were political. At $100 oil Denbury got away with not knowing what to do. At $30 the mistakes are coming out. What's worse is you have people who have no clue about CO2 now running the fields. They change engineers constantly on each flood. No continuity for fear of losing the young engineers.