MCBU?....?? What is that?
Barnett: Sold
Panhandle: To be sold
Anadarko: To be sold
Permian-Midland North: To be sold
Permian-Midland South: To be sold
Permian-Hobbs West: To be sold
Permian-Maljamar(Caprock): To be sold
Permian-Delaware Shale: Should be sold or farmed-out (a real money-hole that will never reach break even)
Employee engagement lacking? Why?
COP never reduces management accordingly. They just create a position for them (wells project manager and other crapola that isn't needed). Such a joke.
Employment engagement is lacking because one of the managers is so completely out of touch he has to have meetings to get feedback. Lmao. Last time they asked for the truth and I let him have it. People may say I paid for it with losing my job, but that severance package though. I wish I got paid that much every time I told someone the truth. No complaints here!
This may suggest significant consolidation may take place. May be looking at a Lwr 48 BU, Canada BU & Alaska BU or possible a single North America BU.
There may be a significant reduction in workforce if consolidation takes place. The workforce reduction will impact all levels: employee, supervisor, manager & executive.
This is sad. Why not not just sell off entire MCBU as there is no longer any significant holdings to support or justify retaining as a BU.
Considering Bakken & Eagle Ford are also money black holes with no possibility of reaching breakeven, it seems the entire Lwr 48 is commercially a house of cards.
Throw in Surmont & Alaska into the discussion, the future for COP in North America is bleak with no significant commercial growth opportunities.
Employees are bored now. Employees are frustrated now. Employees are mentally rotting now.
COP's response to employees and shareholders:
Downsizing, consisting of asset sales and layoffs, will continue and continue and continue....