Thread regarding Anadarko Petroleum Corp. layoffs

Funny to read this now

Two months ago the poster below said, predicted future:

APC is the epitome of efficiency and transparency compared to CVX. That place is a basket case.

This is the most interesting post I’ve seen on here. Good to see some real numbers and actual points. The Mozambique critique is brutally honest... not wrong, just hard to hear.

Layoffs coming with bonuses. Get bonus check plus severance. Hides it in midst of earnings season. Makes investors like us before next earnings. Good luck.

Yup AAET is over $100MM a year. I’m not sure about every number or the breakdown posted earlier but the Google deal and total spend are accurate. Also layoffs will be announced after other companies break the ice. Sanchez, Weatherford, Schlumberger, and Southwestern will detail their recent layoffs during earnings. AW thinks if we wait till then it won’t hurt the stock.

Screw the employees. Stock price is king!

I guess that makes the job for AAET pretty easy.

"Nerds, how much oil are we going to make off this well?" -AW

"Quick take EOGs closet well, cut the production in half, and double the cost! Looks like we will be total sh-- once again boss!" - AAET

"Wow, these guys are geniuses! Give them more money!" -AW

My first year at Anadarko. Their rating process is truly smoke and mirrors. Worst I ever seen.

AAET has 60+ Data Scientists, a third or more PhDs.

Support staff and managers around 60 more folks.

Multiple consulting companies doing work— who knows how many are milking us

That doesn’t include all the consultants who run the actual computers for the business. All the accounting, reporting, and all that is a separate budget and group.

Contracts with all these random tech companies and third party companies— Google, MapR, Kinetica, Kelvin, RS energy, Tibco, too many to name.

They’re buying servers, hardware for sensors and experiments, who knows what else!? They don’t acknowledge those expenses cause they’re capitalized.

Travel to projects and all the damn conferences those dumb--ses go speak at.

We even pay a consulting company to recommend consultants— Darcy Partners. I am not joking. $150K a year.

I know AAET is burning $75MM annually, my guess is it’s closer to or above $100MM a year.

Google cloud we agreed to $10MM minimum over 3 years by itself.

AAET is just riding this company into the ground. The worst part is our management would rather have some b---s--- shiny thing to dream about than people doing “boring” work like geology, petroleum engineering, production, etc. Same reason they love Mozambique. They just want something that they don’t look stupid at.

We are literally bottom tier performer in every single US onshore basin we operate in.

There is no company our size that consistently performs as poorly as we do onshore. Truly unbelievable.

“The best thing we can do is fire AAET, focus on engineering, lay-off the political MBA business clowns.“ anybody know how much we’ve spent on AAET since theyve started? Nope. They don’t publish their budget. Or how much they spent on that sweet pool table. Or how much time they waste on PR videos and websites and Chronicle articles instead of actually delivering anything valuable? But hey at least we’re getting a Diversity and Inclusion czar. Smh

I worked at Anadarko over 12 years ago. Nothing has changed because same things where said back then. But just to tell you I really thought I was reading about my current employer; so jumping ship really doesn’t matter. Milk the gravey train and get your package. Best of luck and save your money to exit the rat race. Early retire by 55.

Just setting the record straight. You're welcome, Anadarko.

I wonder if Hess engineers are so stupid to think they are actually contributing to Guyana?

Wouldn’t it be nice to work at a company that didn’t fire half of staff every downturn, cut the dividend, lead the country in fatalities, and have engineers who spend all day dreaming about their counter parts chortling them? Sadly, that’s not the case, we work at Anadarko.

I'm not saying that Anadarko is the best at everything. But I am saying our Mozambique LNG is the best part of this company. It is leading the way in the race in Mozambique, ahead of Exxon's limping efforts, and better than anything they have done or will do in Mozambique. This project will NOT fail and will usher Anadarko into a whole new era of not just upstream but midstream and downstream. Exxon will not su ck the reservoir dry and will not take advantage of us.

I came from a supermajor just a few years ago and the most impressive things about those people are their business cards. They act like it's a badge that entitles them to get their way. Not this time. I've spent long hours with Eni and CNPC as well as XOM and I'm surprised all those huge egos can fit in the same room, much less agree on anything. I can just imagine them waving their business cards in each other's faces like they are gloating about a royal flush.

Mozambique is the best thing this company has done in a long time. That chortling you hear is XOM under my desk.

Like every other great moment in Anadarko history, it’s just 3-5 years and “state of the art” technology away.

b---s---ting— the most consistent core value across APC management!

XOM followed our lead into Mozambique. Maybe they could have bought us for spare change, but they didn't because we're not the usual gullible bumpkins that are all impressed by the big company that thinks it can peel a few bills off a roll and throw them on the ground for us to pick up. No, thank you.

Mozambique is a state of the art project. Every bit of it. We are driving progress there and XOM is following our lead. Even now. We have an all star team and if XOM bought us they would be lucky and grateful to have this group working for them. We would be a transformative force in that organization.

And if they don't buy us, they can chortle my balls.

The biggest proof in how sh-- Anadarko is, just look at how active our lay-off page is vs XOM, BP, Chevron, EOG, anyone with a brain. Most paranoid, anxious, and political employees— Anadarko!

Maybe Devon or Chesapeake a close second?

XOM can buy APC without blinking. Their annual dividend payments are more than half our market cap.

We don’t matter to Exxon. They’ll let us F up mozambique, spend up a ton of our cash financing it, it’ll inevitably go over budget, under produce, require us to raise debt to pay for it — and then once we have screwed the balance sheet, paid for a c-ap project, endured delays, weakened the company and p-ss-d off our last remaining investors— then Exxon will buy us out, fire the mo--ns who ran such an abysmal project and sell off the pieces they don’t want.

That’s just the reality.

XOM isn’t about to lose to APC. If you think that, you can’t do the most basic math. We are lunch money to them. If we were somehow going to win, they’d just buy us.

We know LNG better than XOM??Did you hesitate typing that?

If we know LNG better than XOM, then we must also know refining better than XOM, fracking better than EOG, rocket launching better than SpaceX, electric vehicles better than Tesla, give me a break! You can work here without being mindless.

We are perfectly correlated with oil price cause it’s the only thing our dumb--s leadership cannot single handedly mess up. We have no bearing on our destiny.

Mozambique will be a quagmire and it’s mo--nic thinking like that— that we are better are reservoir engineering than the likes of Exxon that makes me totally convinced we are screwed. The fact you think that scares me senseless.

Exxon doesn’t screw projects. We do. Royally. Consistently. Without fail. We are the Chrysler/ Blockbuster/ Sears of Oil. It’s what we do.

The only thing we seem to be truly amazing at is bamboozling investors into continuously riding our stock down.

We divided up Golfinho-Atum and Mamba production based on size of the reservior at the time of unitization with an adjustment based on later data. We won a hard fought but brilliant result. XOM won't get the better of us. We know LNG better than they do. XOM is eating our dust. And XOM can chortle on my balls. Mozambique is the best thing we have going for us. We have only the best and brightest on this project. We are this company's salvation.

Wowzer our fatality rate really is unbelievable.

Management makes everything sound great.

They’re slimy liars. Can’t believe anything they say.

Amen!

Place is a rat ship. Only the most ruthless rats thrive.

That’s the most honesty ever posted on here. Watch out, I’m sure they’ll try to hide it.

Funniest thing lately has been the LIVE campaign. Meanwhile we have the highest fatalities in US. So terrible.

God, if there’s any rational thinker or logical board member at Anadarko, please compell them to promote that engineer to CEO!

Meanwhile AW is out bragging about those tech j--koffs in AAET doing a bunch of BS.

BP radically advancing seismic, honestly awesome stuff.

EOG decades ahead in tech and well results.

Exxon leading LNG, chem, new offshore.

We are just throwing money left and right at total BS c-ap. The results speak for themselves. Our well results are total bottom of the barrel. It’s embarrassing. We are choking back wells like crazy to do these insanely stupid “tankless designs” cause some MBA with no idea of reservoir or geo or pore pressure ran some c-ap and said “big wells are more expensive than small wells”, but EURs falling to save some pennies. Unbelievable.

Mozambique is gonna be s---ed dry from XOMs block, permeability supports, they’re gonna get online before us (plus added 50% to lng train capacity). That’s going to be the worst project in APC history. No way we will deliver targets, deadlines, or on budget.

That’ll be tons of layoffs. It’s a huge time bomb. It’ll bankrupt us.

We haven’t found anything new. Management touts the fact that they buy out partners in existing plays as these amazingly brilliant maneuvers— no sh--?! But we are an E! And P— we need to EXPLORE not just PRODUCE. We are too damn focused on some Computer nerds making Spotfire to do basic engineering.

The best thing we can do is fire AAET, focus on engineering, lay-off the political MBA business clowns.

Midland is such a poor poor performer. Shell JV is a huge testament to just how jaw droppingly terrible our performance is.

“As long as I get paid, whatever”— The only code value that keeps employees here!!

Wait, what happened in Midland re: advisor level geo?

You might be spared a pink slip if you offer your manager a bleaujob. Be sure it's under the table through. If his suspicions are raised he won't take you up on the offer.

If you’re willing to move to Midland you will weather the storm. The biggest buffoons of the company have been able to make successful careers there. Sadly one advisor level geo couldn’t even make the cut there.

First round of layoffs happening this month. Just the reality of the situation. Look at the facts: 1) Oil has been in a sustained downtrend through 2018 and most likely will continue to trade between $40 and $60. 2) Original Executive Committee has moved on and only one member from original group (different culture). 3) Several high ranking Government and Public Relations employees have spoken out strongly and publicly against APC. 4) Individual Departments are falling apart. Ex. Corporate Security has dis functional management and riddled with allegations of inappropriate behavior. 5) How many people do you know that have left APC on their own or were forced out over the last year? Quite a few, but not enough to sustain $40 oil so more layoffs happening this month and in April. 6) HR and Legal spend majority of their time cleaning up messes and hiding higher managers questionable behavior. This is a sign that the company as a whole is struggling with their identity. 7) APC no longer hires the best of the best. They search for young, impressionable souls that will work for less than their experienced counter parts. Just look at what they are doing to Geoscience. 8) If you are part of the inner circle then you will be fine, but the remaining 90% won't know when the lay off will happen, but some will occur this month. There is less negative media exposure when they lay off employees slowly and consistently than all at once.

I've heard the same rumblings. Just get hired from another company, be straight out of school, or be willing to move to Midland. THE IDEAL EMPLOYEE-- Ignorant, cheap, blindly loyal!

Terrible to see this company fall into the vicious HR-driven pscho political juggernaut it’s become.

Believe it or not, there was a time when engineering, geology, and exploration were valued.

Bunch of mo--ns took over... can’t fix it.

Anadarko core value has been rotten from the core. Cause No. 24,219 Summary Judgement Hearing. February 22, 2019. Tyler County, Texas.

Anadarko and Zarvona Energy illegal drilling operations and fraud. This will be interesting Anadarko never had consent in east Texas assets operations and sold to Zarvona to try to get out.

Downsizing definitely coming after bonuses.

Been warned, a big bonus could just be a parting gift!!

10%+ redundancies in some areas (IT, HR, GOM and Mozambique, geo). Offer to move to Midland and they might keep you!