Any leaks or thoughts appreciated. Resumes ready.
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Way and McCauley - tha duo of disaster for SWN. They have taken SWN stock from $40+/share to $5.00+- and caused many good people their jobs. When will the board get their heads out of their a_ _ es and get rid of them?
Job market is starting to improve.. so there’s hope.
Unfortunately in Houston SWN is viewed as sort of a tier 3 company, so swn experience won’t help on resume ... toucan work your way out , but it will take an intermediate stop — depending on discipline at another place
SWN stock moves up on a brief macro driven increase in gas prices and improvement in northeast basis. Does the market really think we have years and years of drilling left in NEPA? That gas sees a brief bump and then struggles to make returns looking beyond this winter.
By the way, Way is still an idiot and doesn't know how to change the direction of this ship other than to use "energetic" words and hope for a cold winter. Let's go job market - get me out of here!
Has anyone looked at our 10/31/2017 presentation in detail? Still using $3/3.50/4 per MMBTU for modeling with drilling locations exagerated cause everyone knows some acreage not in sweet spot and WON'T be drilled. Type curves "normalized" which means adjusted to look like best wells. Initial rates not an indicator of Ultimate Recoverable Reserves but does indicate LONG laterals, with big costly frac jobs and steep declines. Are well costs lower cause facilities and lines there or real reductions? Don't think this kind of presentation adds credibility.
Drilling into gas GLUT increasing oversupply weekly A FACT which weakens gas prices (A FACT) which reduces cash flow which reduces or eliminates production growth (A FACT) which will reduce stock price and rig count at SWn. Day traders enjoy small bumps BUT employees keep SUFFERING. Vicious circle.
Most management at SWN are too busy enjoying their circle jerk to realize how screwed up and inept they are.
You ask how it is so visible and Stu’s quo remains ...
— status quo isn’t same . To those that most matter -investors - have left .. not share rice .. “traders” will come and go. You could have bought at 5.05 and in a month or so have made around 15% . Not bad. However for long term employment , sustainability, business relationships — there is no future . Another example of staid quo changing , swn used to be a dynamic innovative company pre - Way/ McCauley.
Stays quo has changed , just not to advantage of employees
I often wonder how is that this is so visible and tangible to so many people, status quo remains. This sure seems odd for a public company.
SWN has some serious problems in their management. THE TOP ! It's the worst.
That would be the first step. I do feel however, that there are many other dysfunctional layers that would need to be addressed. While I do get that the economy and the compressed oil & gas prices play a role, running a company with a total lack of leadership and transparency just can't bring any good results. This company has lost great talent in the past few years, very few good ones are left. There was an HR departure to Concho that was very regrettable. Something will have to happen, and soon.
When will the Board calibrate expectations and realize where the problems are.
Fire McCauley and Way and the company will be fine !