Come on execs, you need to layoff at least another thousand people this year. Gotta build up enough cash to HBP all that juicy Felix acreage for which you overpaid. You can always hire them back later, they aren't smart enough to go anywhere else.
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EnCap isn't aware - they just offered up Payrock for a similar amount of money. I wonder if Devon will buy that too to book more reserves, then layoff another couple thousand losers?
Every company, with the exception of the majors, has its Achilles heel. Wrong acquisition. Then the company looks for a white knight to bail them out. The parties involved in the decision making of the bad acquisition should be the ones that lose their jobs, but unfortunately, it doesn't work that way.
And we are about to let everyone underpay for our Permian acreage. Sound about right to you guys?
Everyone in the industry is aware that Devon overpaid Felix. It also overpaid for GeoSouthern's interest in the Eagle Ford.