This management team needs to learn from Continental.
4 replies (most recent on top)
Everybody jumps on the pump all you got bandwagon and oil is right back down to $50 overnight. US shale is just too stupid to learn from the past.
This is my sentiment as well. Seriously Layoffs now????
Anyone getting laid off in this part of the cycle is getting DVN to do them a favour.
I'll take the big bag of cash and get a job somewhere else thanks.
If this was 2-3 years ago it would be a different story but not now.
The OP is right and pfl sounds like a douche. Pfl do you know how many bblspd Devon produces? “A few dollars per barrel” is a billion dollar difference... partner.
I hate to burst your bubble but, if you believe that the status of the oil industry will magically reverse because of a rise in oil prices, you really do live in a bubble. If prices rise significantly, OPEC will just open the taps and we will all be right back where we were a couple of years ago. So any management team making strategic decisions based on a bump of a few dollars per barrel are taking their eyes off the ball. What will change to oil industry is that, in a few years time when US shale can no longer be a swing producer, oil will be in demand but supply will be limited due to the fact that nobody is investing in infrastructure. So oil will probably have a renaissance, however short, but not going to happen next month. Once a major company floats their IPO, all bets are off.