Not unheard of.

https://houston.culturemap.com/news/city-life/10-12-12-12-55-harris-county-sheriffs-dept-nabs-halliburton-vice-president-and-six-others-in-prostitution-sting

crudedriller said:

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What is the Hess culture? They've always been an enigma to me…

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I used to work for Hess and really enjoyed working there. Just like with any company, your experience will vary depending on location, function, team, boss etc, but everyone seemed happy at Hess and there wasnt a lot of turnover. They also tend to pay higher than their competitors, and bigger bonuses. I was a non-manager individual contributor, and my annual bonus was 20%.

I think the old stigma of they work you to death comes from the old days when all the guys used to have to wear suits to work, its obviously not like that anymore.

Their benefits/retirement plans are also on par with the majors: pension + 8% 401k match. My old bosses who worked there for 30+ years were able to retire and are sitting pretty with their fat pensions and 401k's.

Still nothing announced on that XOM/PXD deal? Another bluff or just ironing out the details still? Or being cognizant of geopolitics and hesitant to announce during such a tumultuous time?

could be the quiet period leading up to q3 results

Still looks like it's going to happen.

I know people over there are sweating.

Looks like it will be announced tomorrow. Buckle up.

AggieMainland said:

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Looks like it will be announced tomorrow. Buckle up.

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Wow

How good of source? I don't doubt you bc I've heard the same but it's people reading it on Layoff.com for Pete's sake!

He can't give his source - appreciate the nod though

Oh and this is out there now

https://finance.yahoo.com/news/exxon-talks-pay-more-250-235735437.html

It's all over now. Stock up to $244.

I'd never expect someone to give their source. I just asked how good of source (confidence level) bc there's crap flying all over the place now and a lot of it is unsubstantiated from pot stirrers. I'll assume his source is legit or he wouldn't have posted here. This isn't really the place I'd expect shenanigans (this thread at least).

Done deal. All stock. Exxon has phone call scheduled for 11am.

https://www.cnbc.com/amp/2023/10/11/exxon-mobil-agrees-to-buy-pioneer-natural-resources-for-nearly-60-billion-in-all-stock-merger.html

Good for the business.

sts7049 said:

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could be the quiet period leading up to q3 results

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i guess that wasn't the case

Yeah, stock gonna take a little hit. Will be diluted with PXD buy. Long term a good hold I would think. Share buybacks may get more aggressive with cash still on hand.

man the patch gets smaller and smaller.

Furlock Bones said:

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man the patch gets smaller and smaller.

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It certainly feels that way. So I agree. That said, the old time BD folks point to the fact that there are more publicly traded E&P companies today than there were in the nineties.

More publics, not a surprise, I'd be more interested in number of privates.

Industry definitely going through consolidation, in a decade it'll break up again as majors sell off non-core.

Really only Crownquest and Endeavor being the last big privates.

Not entirely sold on Ameredev's NM position to include them.

Mewbourne could be interesting given the recent passing of Curtis.

Agree- there are only a few that move the needle for acquirers. I also view the pool of buyers as relatively small at COP, CVX and a few others. I doubt the European majors jump back in but crazier things have happened.

Cyp0111 said:

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There are a lot of companies that should not be public. I expect further consolidation. FANG is the obvious next one to look at, I think PR is a good one but not sure they move the needle. Could see OXY or someone like that buying them to get more scale to void off a takeover attempt.

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Are you thinking FANG as a buyer or seller? I think they try to hang on, scoop up some smaller folks. But who knows.

I stick with Chevron as the next big buyer though. They're on the clock!

miller0926 said:

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birdman said:

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Good for the business.

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Terrible for us employees

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I agree. It can't be good for you guys. Maybe they will offer reloc packages to move to Spring? Or keep the Irving office for a while?

FANG has a good company. I could see them buying and getting bigger for an eventual takeout. Again, once you get much bigger the pool of buyers shrinks to 2 logical players at CVX or COP. They may already be there, im not sure.

Owen Kellogg said:

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miller0926 said:

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birdman said:

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Good for the business.

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Terrible for us employees

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I agree. It can't be good for you guys. Maybe they will offer reloc packages to move to Spring? Or keep the Irving office for a while?

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Sounds like they're guaranteed at least 2 more years in DFW. Similar to XTO.

FANG has definitely been active in the M&A world, but you're right they're getting to that size where only a few of the Majors may take them out or they continue to grow through bolt on acquisitions of smaller E&Ps.

Yep- I think Conoco and Chevron are the only logical buyers. I think oxy needs to still work on balance sheet.