Are low oil prices helping or hurting you?

[SlugSlinger]

CHK is laying off. Right this minute according to my channel 5 mobile app.


Sent from my iPhone using Tapatalk

http://m.koco.com/news/sources-layoffs-happening-at-chesapeake-energy/35554482

They are saying about 1,000 affected.

 

[SlugSlinger]

This is an interesting site. It seems to be accurate and timely.

https://www.thelayoff.com/chesapeake-energy

 

[montesa]

How do you guys think the ETE purchase of Williams will affect Tulsa and Oklahoma City employees?

 

[SlugSlinger]

How do you guys think the ETE purchase of Williams will affect Tulsa and Oklahoma City employees?

Based on the language in the merger announcement, there will be a meaningful presence in Tulsa. What that means is anyone's guess.

If I had to speculate, I would say most if not all shared services are gone. Accounting, legal, IT, those types of functions. I would think, the operations type functions would have a better chance of survival.

It is impossible to know how this will eventually play out. If there is duplications in roles, the "satellite" offices will probably lose.

What are you guys thinking? How has the Williams / Access merger played out?

 

[montesa]

Based on the language in the merger announcement, there will be a meaningful presence in Tulsa. What that means is anyone's guess.

If I had to speculate, I would say most if not all shared services are gone. Accounting, legal, IT, those types of functions. I would think, the operations type functions would have a better chance of survival.

It is impossible to know how this will eventually play out. If there is duplications in roles, the "satellite" offices will probably lose.

What are you guys thinking? How has the Williams / Access merger played out?

Just fine for most. Access was a very efficient and profitable company so outside of shared services things didn't change much. That was a different time though. Well before the market changes.

 

[Poke78]

This is an interesting site. It seems to be accurate and timely.

https://www.thelayoff.com/chesapeake-energy

Brutal site in every sense of the word and on multiple O&G companies: gossip, back-biting, guessing games on when/who, etc. I grew up around the industry, dad worked for Texaco but it was a different world then (50s, 60s, 70s). This market and price structure just doesn't sustain the empire-building of better days. This seems even more difficult than the 80s contractions.