Anyone have any ideas what to expect over the next 7-8 months?

coolerguy12 said:

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Literally started at Anadarko on the 8th. Anyone have any ideas what to expect over the next 7-8 months?

My phone hasn't stopped buzzing since 6AM this morning.

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Buzzing with what?

94chem said:

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coolerguy12 said:

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Literally started at Anadarko on the 8th. Anyone have any ideas what to expect over the next 7-8 months?

My phone hasn't stopped buzzing since 6AM this morning.

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Buzzing with what?

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Probably concern as they just got bought and his new job most likely will become redundant after transition.

However you never know, I work for a company that made a major acquisition in the early 2000s and a handful of the acquired company's employees still work here. Just got be willing to adapt and be willing to change roles if you want to stay within the organization.

94chem said:

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coolerguy12 said:

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Literally started at Anadarko on the 8th. Anyone have any ideas what to expect over the next 7-8 months?

My phone hasn't stopped buzzing since 6AM this morning.

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Buzzing with what?

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Presumably with people asking what's going on with the recent news?

TommyGun said:

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How close are you to the wellhead? If you're sitting in The Woodlands as overhead I'd start to keep an eye out for other opportunities. This is a big deal that'll take a considerable amount of time to work out. Truth is you'll probably be ok for at least a year or so. At that point, it's just a question of whether you're in a redundant role or not.

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This. ^

I will add that Anadarko has the capacity to expand at the woodlands location with two additional buildings... might see expansion there

I'd personally get ready to look, but be patient and see if you get a good severance option/retention bonus.

I'd start talking to recruiters though, for sure. Just be patient. You'll still be paid for a while even if Chevron doesn't want to keep you.

TommyGun said:

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How close are you to the wellhead? If you're sitting in The Woodlands as overhead I'd start to keep an eye out for other opportunities. This is a big deal that'll take a considerable amount of time to work out. Truth is you'll probably be ok for at least a year or so. At that point, it's just a question of whether you're in a redundant role or not.

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I'm on the midstream side laying pipelines ahead of the wells. Chevron announced adding rigs to the APC acreage so that can only be a good thing.

94chem said:

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coolerguy12 said:

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Literally started at Anadarko on the 8th. Anyone have any ideas what to expect over the next 7-8 months?

My phone hasn't stopped buzzing since 6AM this morning.

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Buzzing with what?

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Friends, family, and old coworkers trying to get my take on it. This is my 5th day here, I have no idea what to think.

Last time Chevron bought someone they left it completely alone for a full year after the deal was done. If you're good, I wouldn't worry. There is plenty of dead weight at Chevron that they will let go of before a good Anadarko person. If you're young, I wouldn't worry. They'll probably offer older employees at both companies a package option to get the numbers down. If you're dead set on living and working in the woodlands for the next 5 years, I might start looking.

If/when Chevron needs to lower headcount, you are likely to get the largest bonus of your life in the form of severance. From what I've heard, 2 years' salary and immediate vesting of any unvested stock.

Jesus. That is literally more than 26x the last layoff package I got and more than 2x of the highest payout for the last early retirement buy out I was eligible for.

I'd volunteer for that kind of package

Duncan Idaho said:

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Jesus. That is literally more than 26x the last layoff package I got and more than 2x of the highest payout for the last early retirement buy out I was eligible for.

I'd volunteer for that kind of package

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I did volunteer for a package during my time at BP for a similar reason. Packages were 90 days full salary & benefits plus 1 month of both for each year of service at the company, plus immediate vest of all stock. My boss just laughed at me and told me they weren't going to pay me to leave.

IrishTxAggie said:

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TxAg20 said:

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If/when Chevron needs to lower headcount, you are likely to get the largest bonus of your life in the form of severance. From what I've heard, 2 years' salary and immediate vesting of any unvested stock.

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Sounds a bit high for someone that's only been with the company for four days...

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I mean, it'll be months at least before the deal closes.

I used to work at Anadarko. The change in control severance is insane. 2 years pay sounds about right. If I remember correctly there is a time table attached to how long after the acquisition it's been in order to qualify for the change in control package. But still, the regular severance packages at Anadarko are very good. in 2016 when they were doing big layoffs I stood to get about 6 month's pay had I been laid off having worked there only 2 years at the time.

TxAg20 said:

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If/when Chevron needs to lower headcount, you are likely to get the largest bonus of your life in the form of severance. From what I've heard, 2 years' salary and immediate vesting of any unvested stock.

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The last severance packages CVX handed out in 2016 weren't what you've described. Won't go into details, but it wasn't 2 years' pay.

But this scenario may be different, obviously.


OP - As others have said, be patient and go with the flow. The deal won't close until later this year, and it's going to be a sizable effort to merge the companies. Heck, the fact that APC is still under construction on their MID building that is literally across the street from CVX's campus raises all sorts of questions as to who is retained, if both offices are kept or one vacated, etc.

In general, I expect them to keep both campuses because the investment in MID is only going to increase over the coming years. I don't think it can be overstated what this does for CVX in terms of acreage and how development is pursued in the Delaware now. Take away is a huge issue for all players in the area, so your position is critical to the success of the overall plan.

I haven't been laid off from a major, so I'm not speaking from personal experience.

I work with a former APC employee and he said 2016 severance packages were 2 years plus vesting of all stock.

I have a relative that worked for Clayton Williams Energy when Noble bought them out. He had notified the company he was ready to retire. They talked him into staying on an extra 6 months through the Noble transaction and he was paid 2 years severance.

PXD is currently reducing head count and I haven't heard exact details on their severance, but I've heard the cutoff is age 62 and older in Midland and 55 and older in Las Colinas. Some Midland folks are hoping they expand the age since it's such an attractive package.

A guy I used to work with was let go from 3 or 4 companies in about a 5 year span due to change of ownership and each instance was given a minimum year salary + immediate vesting. Was able to get a new job quickly each time. We always joked whether he was the luckiest SOB ever or the unluckiest!

coolerguy12 said:

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TommyGun said:

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How close are you to the wellhead? If you're sitting in The Woodlands as overhead I'd start to keep an eye out for other opportunities. This is a big deal that'll take a considerable amount of time to work out. Truth is you'll probably be ok for at least a year or so. At that point, it's just a question of whether you're in a redundant role or not.

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I'm on the midstream side laying pipelines ahead of the wells. Chevron announced adding rigs to the APC acreage so that can only be a good thing.

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Gotcha. Well I think you have time to take a breath and ride this out for a bit. That is a huge chunk of acreage that CVX just picked up. They'll need both direct and indirect manpower from APC to continue to develop it. Not to mention APC's international projects have yet to be fully staffed and my understanding was the Mozambique project alone was going to add a lot of jobs over the next couple of years and really stretch APC's headcount. Basically, I think there may be some running room available for you if you choose to stick it out.

Just make sure you have a back-up plan in mind should things turn out differently. I used to work for APC and I know that there are some high quality folks there. My guess is that CVX will want to retain a lot of that expertise and naturally merge the two companies together.

What do you think this does to real estate in The Woodlands? Time to abandon ship, or will demand from the Exxon campus keep things afloat?

Civen said:

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What do you think this does to real estate in The Woodlands? Time to abandon ship, or will demand from the Exxon campus keep things afloat?

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This is purely anecdotal, but there are tons of XOM and CVX employees in my Woodlands neighborhood. I don't know a single Anadarko employee.

Mergers are good opportunity for people lower on the totem pole. You are already on the team but are flexible in job assignments. Those higher up tend to be protecting little kingdoms that may no longer be around. At least that is my experience. Think of it this way, you are too new to be married to the "Anadarko Way" but just old enough to be an "Anadarko Guy". Think of this as a lot more doors are available to be opened.

That is one heck of a deal.

Quote:

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There is plenty of dead weight at Chevron

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Is this ever not true? Didn't they just purge everybody 2 years ago?

I was a CVX casualty about 3 years ago. I haven't looked back. They preach one thing and practice something else.

And the comment about the CVX severance is not anywhere near what you are talking about. It was very minimal and quite frankly pathetic. I didn't even get a face to face dismissal - a HR personnel with a BU rep called me and let me go in a 2 minute conversation. Didn't even get my name right when they called.

Civen said:

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What do you think this does to real estate in The Woodlands? Time to abandon ship, or will demand from the Exxon campus keep things afloat?

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It should be fine. SWV keeps adding companies. HP Inc just moved there and HPE will in the next few years. That's 10K employees alone.

Anadarko employees will have fun getting adjusted to Chevron's nanny state software when that gets onboarded

FarmerJohn said:

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Mergers are good opportunity for people lower on the totem pole. You are already on the team but are flexible in job assignments. Those higher up tend to be protecting little kingdoms that may no longer be around. At least that is my experience. Think of it this way, you are too new to be married to the "Anadarko Way" but just old enough to be an "Anadarko Guy". Think of this as a lot more doors are available to be opened.

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This was my thought as well. I'm not really worried so much as I am nervous for what's coming. Worst case I left on very good terms at my last company so there is always that fallback. I'm going to go with the flow and see what happens.

TKEAg04 said:

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I was a CVX casualty about 3 years ago. I haven't looked back. They preach one thing and practice something else.

And the comment about the CVX severance is not anywhere near what you are talking about. It was very minimal and quite frankly pathetic. I didn't even get a face to face dismissal - a HR personnel with a BU rep called me and let me go in a 2 minute conversation. Didn't even get my name right when they called.

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Yeah, some of these posters think it's still 1985. Time for Original Ag to show up and tell us about the good old days...

This thread feels like a good time to remind people that what you write on the internet, stays here. I'm guessing it wouldn't be hard to pinpoint who the OP for those who work for Anadarko or Chevron. Might want to make sure you would be completely comfortable if management read every comment you made, and knew it was from you.

I'd tell him... You've been here less than a week. If you have questions, come see me. Don't go to a public message board, on company time, and start discussing exit packages and business plans.