Shell just went through layoffs, so it may not be as bad if that didn't just happen.MAROON said:
so I'm assuming a significant number of jobs will be lost in Houston with the Conoco buyout of Shell Permian?
Houston..we have a problem....
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Last: 2 days ago by Bibendum 86
COP will take on some of the Shell employees, but I imagine some will be let go. COP has stated they don't anticipate any staff reductions within their current workforce.
Yeah...I believe that group was already trimmed fairly heavily, so may have been in anticipation of this deal and hopefully not too many more cutsJoseph Parrish said:Shell just went through layoffs, so it may not be as bad if that didn't just happen.MAROON said:
so I'm assuming a significant number of jobs will be lost in Houston with the Conoco buyout of Shell Permian?
Don't forget EOG
Damn, totally forgot about them.Law361 said:
Don't forget EOG
They'll be a future COP purchase in a few years.
These folks are all take out candidates in my opinion.CrazyRichAggie said:
DVN
CPE
XEC
MRO
MTDR
In the next 5-10 years you'll have just a few majors and some very large independents running the Permian.
Just like it was 40+ years ago.AustinAg008 said:These folks are all take out candidates in my opinion.CrazyRichAggie said:
DVN
CPE
XEC
MRO
MTDR
In the next 5-10 years you'll have just a few majors and some very large independents running the Permian.
This may be a bit off subject, but here goes…
After being laid off in April 2020 from an O&G operator, I started a freight company. We have hotshot rigs that run all over the country.
If you need freight moved, please contact me and see if we can help.
Our drivers are very professional and take care of your load as if it's their own. We haul for all kinds of industries (including companies like Boeing) but also serve O&G as well.
Thanks, and back to your regularly scheduled TexAg-ing.
Michael '03
After being laid off in April 2020 from an O&G operator, I started a freight company. We have hotshot rigs that run all over the country.
If you need freight moved, please contact me and see if we can help.
Our drivers are very professional and take care of your load as if it's their own. We haul for all kinds of industries (including companies like Boeing) but also serve O&G as well.
Thanks, and back to your regularly scheduled TexAg-ing.
Michael '03
Wiggletrace said:
This may be a bit off subject, but here goes…
After being laid off in April 2020 from an O&G operator, I started a freight company. We have hotshot rigs that run all over the country.
If you need freight moved, please contact me and see if we can help.
Our drivers are very professional and take care of your load as if it's their own. We haul for all kinds of industries (including companies like Boeing) but also serve O&G as well.
Thanks, and back to your regularly scheduled TexAg-ing.
Michael '03
Congrats on landing on your feet. Question for you, do you ever need an attorney to deal with the FMCSA or PHMSA?
Reason I ask is in case I ever lose my job, I'm considering becoming a transportation attorney specializing in hazmat transportation. I do that already inhouse with a Midstream company and I'm responsible for our railyard, pipelines, barges, and trucks (I manage all of our DOT Compliance programs) All moving hazmat (UN1075, UN1268, and UN1993). I have a ton of experience in this space and have 5 years of audits under my belt with zero NOVs. I'm just worried that if I get cut due to acquisition I won't have a marketable skillset.
I think you have my contact info but let me know if you don't. We'd probably be interested.
ttha_aggie_09 said:
I think you have my contact info but let me know if you don't. We'd probably be interested.
Will do. Right now it's all rumors but should I get cut at some point, it's good to know I can market myself. I'd love to stay where I am for 20 years but that's just not realistic these days.
So true... my dad spent 42 years with the same company - starting off as a splicing tech on a work crew and worked his way up to a 1st line engineer / project manager (HS Education). He was a last-of-his-kind situation. I thought I'd do something like that and be content, but I found out early how companies will take advantage of employees...Talon2DSO said:ttha_aggie_09 said:
I think you have my contact info but let me know if you don't. We'd probably be interested.
Will do. Right now it's all rumors but should I get cut at some point, it's good to know I can market myself. I'd love to stay where I am for 20 years but that's just not realistic these days.
My work history:
1st job - contractor for investment company - <1 year; left for more money
2nd job - management trainee / inside sales - 2 years; left for more money & better situation
3rd job - operations support - 4 years; left for more money & better job title
4th job - operations mgmt - 6 years 1 promotion; RIF'd (that stung; great company, but I understand - it was 2015)
5th job - landed on my feet immediately; contractor Proj Mgr - <1 year, big paycut but paid the bills
6th job - Project / Service Manager - 5 years 2 promotions; left for more money & better situation
7th job - current job, just started; Sr. Project Engineer
It's not ideal, and I hope I can stick with the current company for at least 10-15 years (or more) and rise within.
Man I'm the exact opposite so far...13 years with 1 company. Now I've done 10 roles within the company in 13 years to keep things interesting, but haven't had to do the bouncing around part, which is becoming more and more prevalent
Hoping to hold on for a career here with pension and other large benefits at the end of the tunnel
Hoping to hold on for a career here with pension and other large benefits at the end of the tunnel
I'm at 11 years with one company, 5-7 different roles in 4 different groups. Planning on 19 more here then retiring.
Thanks for the reply. If we ever need some help in that department, I will reach out.
I thought I was there in Job #4 but life comes at you fast... great company and I loved my job and was working toward a promotion... then the bottom fell out of oil, and I was the most expensive person living that ex-pat life overseas (furthest away from management)... was a big blow to my ego, but maybe deserved (definitely humbling)
I'm with my 6th company in 13 years. I moved around quite a bit the first 5 years, but was then with a company for 4 years, and now with my latest company for almost 4 years. We'll see what the future holds.
I don't necessarily have any loyalty to one company. You can't. The company sees you as a number, especially the company I now work for due to consolidation. My moving around so much the first 5 years was due to chasing promotions and pay raises.
I don't necessarily have any loyalty to one company. You can't. The company sees you as a number, especially the company I now work for due to consolidation. My moving around so much the first 5 years was due to chasing promotions and pay raises.
If I were invited to speak to a class of graduating college seniors, I would tell them to always look out for #1, yourself.
I have worked my tail off for several companies, always dedicated, going above and beyond, etc. All for nothing.
All it takes is a market dip or a corporate merger/buyout and you are a number.
Prime example:
I was at a company for 3 years. I got a promotion after one year on the job, had a couple of direct reports. We were owned by a large company. We were $300MM of a $1.5B outfit.
News of a buyout comes in, great deal, overseas buyer. No changes, more capital for growth, etc. Then, an American company puts in a better offer. Bidding war ensues. American company wins the bid and buys the parent company.
First order of business, cut 20% of costs (we were very profitable, about 38% margins). OK, we make cuts, I lose my direct reports.
Next order of business, standardize EVERY position. Makes it easy to replace you.
Next quarter, please cut another 10%.
Next quarter, we need another 10%.
End of year, I'm due a $30K bonus. Check comes in, it's $1,700. I go to the boss and ask. His reply "Oh, you didn't get the letter?"
Apparently, when the merger was finalized, there was a clause in the agreement that anything signed before the merger was null and void. So, my offer letter with bonus structure was no longer applicable. The "letter" that I was supposed to get explained that I was not at the management level that receives bonuses, but here is $2,500 as a thanks.
I had a serious talk with my boss. They came back after three weeks and gave me another $1,000 and a poker chip good for one (1) share of company stock, but I could only redeem it after one year.
I left a couple months later when I found a better situation. They laid off everyone in my group three weeks after I left. Complete destruction of a profitable group from an office in New York.
I have worked my tail off for several companies, always dedicated, going above and beyond, etc. All for nothing.
All it takes is a market dip or a corporate merger/buyout and you are a number.
Prime example:
I was at a company for 3 years. I got a promotion after one year on the job, had a couple of direct reports. We were owned by a large company. We were $300MM of a $1.5B outfit.
News of a buyout comes in, great deal, overseas buyer. No changes, more capital for growth, etc. Then, an American company puts in a better offer. Bidding war ensues. American company wins the bid and buys the parent company.
First order of business, cut 20% of costs (we were very profitable, about 38% margins). OK, we make cuts, I lose my direct reports.
Next order of business, standardize EVERY position. Makes it easy to replace you.
Next quarter, please cut another 10%.
Next quarter, we need another 10%.
End of year, I'm due a $30K bonus. Check comes in, it's $1,700. I go to the boss and ask. His reply "Oh, you didn't get the letter?"
Apparently, when the merger was finalized, there was a clause in the agreement that anything signed before the merger was null and void. So, my offer letter with bonus structure was no longer applicable. The "letter" that I was supposed to get explained that I was not at the management level that receives bonuses, but here is $2,500 as a thanks.
I had a serious talk with my boss. They came back after three weeks and gave me another $1,000 and a poker chip good for one (1) share of company stock, but I could only redeem it after one year.
I left a couple months later when I found a better situation. They laid off everyone in my group three weeks after I left. Complete destruction of a profitable group from an office in New York.
Cody
Fightin Texas Aggie c/o 04
Fightin Texas Aggie c/o 04
Ive been through 7 official workforce reductions an 2 unofficial in a roughly 14 yr career thus far. You have to look out for yourself. My recommendation is always read the room at your current employer.
Bit of a derail but still relevant and interesting.
I'm currently reading "The World Is Flat." It's about globalization but they talk about this some. Basically, with technology and globalization you're no longer competing with your neighbor or other states for middle class jobs, you're competing with the entire world. And America will lose those jobs to other countries who can do it cheaper. What America has done, and continues to need to do, is to create the new middle class jobs.
All that being said, for reasons other than just loyalty and money, the days of lifetime employment are over. People and companies both need to be flexible enough to move to new jobs quickly in order to survive and thrive in this new globalized world. Lifetime employment has changed to lifetime employability. In which companies should be giving their employees tools to learn and grow so they can take these new jobs. Now, that's obviously not the case everywhere......
I'm currently reading "The World Is Flat." It's about globalization but they talk about this some. Basically, with technology and globalization you're no longer competing with your neighbor or other states for middle class jobs, you're competing with the entire world. And America will lose those jobs to other countries who can do it cheaper. What America has done, and continues to need to do, is to create the new middle class jobs.
All that being said, for reasons other than just loyalty and money, the days of lifetime employment are over. People and companies both need to be flexible enough to move to new jobs quickly in order to survive and thrive in this new globalized world. Lifetime employment has changed to lifetime employability. In which companies should be giving their employees tools to learn and grow so they can take these new jobs. Now, that's obviously not the case everywhere......
This x 1000. Been with the same company almost 9 years in two different roles. About 3 years ago, in my previous role, we started hearing about contractors, outsourcing etc. I know what that meant and moved roles relatively quickly. Others in my group who had been around 10-20 years who thought they weren't replaceable are all gone. Use your best judgement and always be aware.Cyp0111 said:
Ive been through 7 official workforce reductions an 2 unofficial in a roughly 14 yr career thus far. You have to look out for yourself. My recommendation is always read the room at your current employer.
I've learned over the years that companies have no loyalty. People might. Companies don't.
Is the RDS stuff COP bought good?
I'm loving what COP has been doing. Bought CXO for cheap and appears they didn't overpay for RDS stuff. RDS wanted out and XOM and CVX were not going to be allowed to purchase if they wanted so in comes COP as the only alternative.
This year COP basically added 500KBOED for about $20B. XOM purchased XTO and Bopco for $47G plus all the capex from the last 10 years and still can't get 500Kboed. Oxy bought APC who had 500KBOED Permian for $55B.
COP timed this perfectly.
I'm loving what COP has been doing. Bought CXO for cheap and appears they didn't overpay for RDS stuff. RDS wanted out and XOM and CVX were not going to be allowed to purchase if they wanted so in comes COP as the only alternative.
This year COP basically added 500KBOED for about $20B. XOM purchased XTO and Bopco for $47G plus all the capex from the last 10 years and still can't get 500Kboed. Oxy bought APC who had 500KBOED Permian for $55B.
COP timed this perfectly.
COP needs to turn around and work a trade or sale to Oxy to rid themselves of the huge NonOp Oxy operated component of the deal and this will be a slam dunk.
htxag09 said:
I'm currently reading "The World Is Flat." It's about globalization but they talk about this some. Basically, with technology and globalization you're no longer competing with your neighbor or other states for middle class jobs, you're competing with the entire world. And America will lose those jobs to other countries who can do it cheaper. What America has done, and continues to need to do, is to create the new middle class jobs.
That book was published 16 years ago. In that time, U.S. GDP has nearly doubled even though population and workforce both grew by 10%. We don't want to middle class jobs, we want upper middle class jobs. We have to keep moving up in productivity and skill to compete, and that's exactly what we've done the last 16 years. Americans are doing outstanding in the modern global economy.
Plus, Thomas Friedman is a huge putz.
TriAg2010 said:htxag09 said:
I'm currently reading "The World Is Flat." It's about globalization but they talk about this some. Basically, with technology and globalization you're no longer competing with your neighbor or other states for middle class jobs, you're competing with the entire world. And America will lose those jobs to other countries who can do it cheaper. What America has done, and continues to need to do, is to create the new middle class jobs.
That book was published 16 years ago. In that time, U.S. GDP has nearly doubled even though population and workforce both grew by 10%. We don't want to middle class jobs, we want upper middle class jobs. We have to keep moving up in productivity and skill to compete, and that's exactly what we've done the last 16 years. Americans are doing outstanding in the modern global economy.
Plus, Thomas Friedman is a huge putz.
I mean I can disagree with someone on certain things and still listen to what they have to say and their reasoning.
And not sure what that has to do at all with the point I made. Nor do I really think it's a big gotcha comment toward him. Everything you stated is basically what he said would happen in a globalized economy as long as America didn't try to fight it.
$80 Brent and $5.50 Nat Gas. CHING CHING
With gas prices spiking outside the US, is there much turn up capacity for LNG exporters? Or will that be a significant bottleneck and US prices will remain mostly isolated?
Oil prices up big today. New Raptors and boats for everyone!
1-year high.... highest since October 5th, 2018: $84.16 (then)Dan Scott said:
$80 Brent and $5.50 Nat Gas. CHING CHING
This reminds me of a friend of mine who works for a large tech company that shall remain nameless. His boss used to tell him he needed to be at least 3 times as good/productive as his Indian counterparts because that's how many Indian developers he could hire for what he was being paid.TriAg2010 said:htxag09 said:
I'm currently reading "The World Is Flat." It's about globalization but they talk about this some. Basically, with technology and globalization you're no longer competing with your neighbor or other states for middle class jobs, you're competing with the entire world. And America will lose those jobs to other countries who can do it cheaper. What America has done, and continues to need to do, is to create the new middle class jobs.
That book was published 16 years ago. In that time, U.S. GDP has nearly doubled even though population and workforce both grew by 10%. We don't want to middle class jobs, we want upper middle class jobs. We have to keep moving up in productivity and skill to compete, and that's exactly what we've done the last 16 years. Americans are doing outstanding in the modern global economy.
Plus, Thomas Friedman is a huge putz.
Another pipeline scrapped in the NE. Folks are going to wake up to some serious pain on their utility bills starting this winter and continuing for the foreseeable future.
Regardless of your stance on hydrocarbons it amazes me how folks can bury their heads in the sand and think that renewables will make up the void lost to natural gas?
Regardless of your stance on hydrocarbons it amazes me how folks can bury their heads in the sand and think that renewables will make up the void lost to natural gas?
Dan Scott said:
$80 Brent and $5.50 Nat Gas. CHING CHING
Ranger fans you're not dreaming! The Rangers are the World Series Champions!
AustinAg008 said:
Another pipeline scrapped in the NE. Folks are going to wake up to some serious pain on their utility bills starting this winter and continuing for the foreseeable future.
Regardless of your stance on hydrocarbons it amazes me how folks can bury their heads in the sand and think that renewables will make up the void lost to natural gas?
The worst part is they won't put 2 and 2 together when those bills hit.
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