The calm before the storm. You can feel it on every floor and see it in all of the managers faces. More layoffs and more outsourcing. The entire IT will be in India by end of Q2 of 2017. OKC HQ will only be a figure head for management everything else will be contracted and outsource. The only Oklahoma employees will be the one in the field. Keep your resume updated and ready. The severance package will be greatly reduced. If you are ready to retire wait for the package and get a little extra before you start your life of leisure. If you have Devon Stock, now might be a really good time to sell it. The Saudi's are still at war with the American Shale producers and time are going to be tuff for a while. Another crash is coming in December. BTW the PM office still s---s.
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Training your replacements while working in India??
More people let go in IT, is it true?
Working from India Right now. Not as bad working in the tower with a lower lawyer count and less management.
The WTI bubble is currently rooted in hopes that Saudis and Iranians can come together to limit production. Aint gonna happen.
I can't wait.
There is a lot of wasted money at Devon !
What a wonderful job you all must have.
Contractors and inspectors in Artesia love it.
Hunting season has begun but no one is taking off. What does that tell you. Wont be fall break either. No one wants to become the turkey who is bagged.
They left a few that should have been let go.
Weeding again? WHo's left to do the work and clean up the mess?
? I missed something ?
Told you it would happen!
Wow, who is naieve? You really think Devon is sustainable at 45 wti? Do you understand how many junk wells we purchased in recent transactions to acquire a few good drilling locations? We paid for the right to P&A 100s of wells. Cant ignore them forever. The state commissions will find them. Huge liability that should be on our annual reporting.
"The Saudis are the ones proving to not be as resilient as US shale producers." ??? Nice try, but that's an apples to oranges comparison. A government's budgeting priorities and sovereign debt aren't comparable to a corporate balance sheet. Government's have economic tools far beyond the limited options facing a company running in the red like Devon. A better comparison would be Devon to Aramco: Aramco is solidly in the black and Devon's is loosing money with zombie shale drilling.
How is IT going to hook up new computers if they are all in India?
Devon is not losing money at current WTI. There is not another crash coming either. The Saudis are the ones proving to not be as resilient as US shale producers. CHK and Sandridge are exceptions to the rule and their positions are not sustainable. Even if WTI crashed into the 20s it would have to remain at that level for years before we would even start to fold. You are nieve if you don't believe this contingency has been prepared for. How can you even think this could be possible with oil prices rebound? Get a grip your foolish post is totally off the grid.
Devon is still losing billions. This is not sustaining
WOw, what a prediction. There is another divestiture to be made according to the announcements made through the year, and one would assume that it would involve some layoffs. Time will tell.
This prediction is creative writing at the worst level. Devon is hiring in OKC and the field. WTI is not great, but sustainable. They have adjusted. So should you or move on.
PM Office still su$k$ every worse. A bunch of righteous arrogant Ba$ta$ds