Brand new field office in Andrews, Texas opens....employing 200
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Yes, the old COP field office was in the blast radius of the DCP Goldsmith plant, yes, DCP has employees located at the plant so yes they are within the blast radius, as to your odd question about an endangered bird and how it relates to COP relocating their field office, I don't know the answer to that one.
Really, its in the DCP blast radius? Does DCP have people in that plant? If so, how could they have people in the blast radius? Maybe an endangered bird made a nest on one of the electric poles at parking lot too? Just asking.
Let me get this straight. Company has a high debt burden, has slashed the dividend which has trashed the stock price, is selling assets, is laying off employees while the oil price has tanked and Goldsmith gets a new high-price gold-plated office for a bunch of under-worked goldbrickers. Just does not make sense. There is no hope for this outfit
Correct, it is a new office to house Goldsmith Operations personnel as the old office was built in (probably) 1970, was requiring continued maintenance, too small, and in the blast & lethal ROE radius of the DCP plant. Also, there aren't 200 employees out of the office.
COP doesn't have an office in Andrews. They relocated their Goldsmith office to a new bldg nearer to field operations.
Hey, don't forget Jose's cementing
COP will be in some good company with Billy Bob's fracking and Bubba's wireline
Managers and DIRs are fighting the downsizing....at some point it will bite them in the donkey....
maybe...I have seen this crap going on for years....
The road we are on, Andrews will probably be the new worldwide headquarters
wonder if they get the free juice boxes?
Must be one of those organizations where there are managers who manage supervisors who supervise workers who have nothing to do. Probably a lot of meetings with a lot of people who agree to have another meeting so they have something to report in their weekly activity reports and monthly status reports. An independent we are not.
200 people! How many people are required to operate Permian interests. In addition to Andrews, we have offices in Midland, Hobbs and Buckeye along with people in EC3 in Houston. We are not spending that much CAPEX and are selling assets. Why so many offices? Why so many people? Surely this will not be allowed to continue. What do all these people do? I am betting the Midland office will be shut down w/ office functions moved and consolidated in Houston. This is just unbelievable.