All of Noble is JV. Especially the management team.
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Canonsburg is a bunch of junior varsity folks who couldn't make the cut at Chesapeake, EQT, etc
There is nothing wrong with Canonsburg except for the differentials on gas price which is not a reflection of anybody based in that office. Get over yourselves.
Canonsburg is pretty much useless.
Canonsburg supervisors and management, HR, all landmen and most regulatory should be canned. Only 2-3 left in the whole office who are actually be worth moving to Headquarters.
Noble had operations in Ecuador, Nicaragua, US GOM onshore, Norway and United Kingdom. All these opportunities, and several others, were much hyped at the time. Poor results forced their sale or relinquishment. The latest "divestitures" in Colorado, Cyprus, Israel and relinquishing license in Cameroon are more of the same: cut costs, raise cash, feed the negative burn rate. Meanwhile the Marcellus is hemorrhaging cash with no relief in sight. They can't allow that to continue much longer. And Noble still needs to come up with billions for the Leviathan development...
Reorg=layoffs
Noble likes to use the reorg instead of layoffs. Don't know who they think they are kidding.
Donald Trump is that you posting on this site? Where did you hear this rumor of a re-org, is it going to be yuge, fantastic, and the best re-org we have ever seen?
I'll believe a profit when I see it.
Shutting down the Canonsburg office isn't that difficult. Sell the assets or turn operatorship over to partners. Wouldn't be the first time Noble's done that.
Canonsburg was hit hard last year.. how much harder can they hit without having to shut the place down??
Look at that. More rumors. I'll believe it when I see it.
Whispers about more layoffs coming in September. Canonsburg to be hit hard. Most work moving to Houston.
Noble management's business strategy is quite simple: "Oil price go up... me spend... price go down... me sell body parts... me really smart!"
Really? I have never seen a company re-org as many times as Noble
From: http://www.gileshopkins.com/2014/07/five-reasons-your-company-is-addicted-to-reorganization-and-how-to-survive-the-next-one/
- We mistake reorganization for business strategy. Reorganization could be a result of a change in business strategy, but it is not a business strategy in itself. If most of the discussion in your company is about HOW you will be reorganized and people can’t remember WHY you needed to reorganize in the first place, you are headed for trouble. New CEOs are especially prone to reorganizing to put their stamp on the company, but that still doesn’t make it a business strategy.