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  1. #126
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    Default Re: Devon Business Practices

    The conspiracy is called capitalism. O&G companies actually make money for their millions of shareholders by providing oil and gas to the marketplace to fill demand. Only the naive or ignorant should be surprised that they prefer to promote their product use.

    To think anyone, even our local O&G companies is sitting around trying to manipulate the mass trans market is laughable and believable only by zealots. I assure you, they are not yet worried about a few streetcars taking away their vast market. As long as we have cheap gas there will be demand. They are more worried about the glut of energy than they are trains. Their job is to find and supply energy at a profit to their shareholders.

  2. Default Re: Devon Business Practices

    Peace out Rover: Another thread I can stop posting in.

  3. #128
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    Default Re: Devon Business Practices

    If it means less talk of conspiracy theories and grandstanding then that is great. If it means loss of actual insight into what is really relevant on the threads, than I am sad. There are great perspectives that need to be shared from all viewpoints.

  4. Default Re: Devon Business Practices

    Quote Originally Posted by mugofbeer View Post
    I am certainly no expert and they may be slowing production but i thought it was normal to shut them down periodically to let pressures build up again underground.
    I don't know enough about it either, but these are 11,000 to 12,000 ft horizontals. Not sure what's going on.

  5. #130

    Default Re: Devon Business Practices

    Quote Originally Posted by mimino View Post
    ?
    I was talking about the lack or non-existence of public transport here and *possibility* of our State's big bad E&Ps influence on our servants (reps), not global markets.
    But oil prices are a global market. You more or less said there's a conspiracy to stifle mass transit by O&G to boost prices and therefore boost their profits.

    The massive flaw in that logic is that OKC could have the best public transit in the world and it would have 0 effect whatsoever on oil prices. So why even risk it?

  6. #131
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    Default Re: Devon Business Practices

    If I pour a pot of boiling water in the ocean it doesn't raise the water temperature.

  7. #132

    Default Re: Devon Business Practices

    No wonder our country is so polarized. Out of all of my original post, you guys jumped straight on that one line... It was meant more as a joke. Zealot, really? Is that all you got, Rover?
    Just like earthquakes were not connected to our E&P activities last year, and Mary didn't get talking points from Devon lol But I digress. Keep the name-calling going.

  8. #133
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    Default Re: Devon Business Practices

    Quote Originally Posted by mimino View Post
    No wonder our country is so polarized. Out of all of my original post, you guys jumped straight on that one line... It was meant more as a joke. Zealot, really? Is that all you got, Rover?
    Just like earthquakes were not connected to our E&P activities last year, and Mary didn't get talking points from Devon lol But I digress. Keep the name-calling going.
    Zealot: a person who is fanatical and uncompromising in pursuit of their religious, political, or other ideals.

    Yes, I stand by the term. And it wasn't aimed at you. It was aimed at those who think cars are going away and that oil companies succeed because they are part of a huge conspiracy against mass trans. I always wonder about people who read a general statement and assume it is about them. Hmmmm.

  9. #134

    Default Re: Devon Business Practices

    Have heard from multiple people that DVN is still letting people go even after their IT housecleaning earlier this year. As in 3-5 people a week as to not rock the boat.

  10. Default Re: Devon Business Practices

    CNBC just said that oil is now cheaper than water - and we pour water on the ground it is so cheap.

  11. #136

  12. #137

  13. #138

    Default Re: Devon Business Practices

    It looks like there's a significant acquisition in the works.

  14. #139
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  15. #140

    Default Re: Devon Business Practices

    ^

    $2 billion acquisition is not a small amount.

    Devon current market cap is around $19B.

  16. #141

    Default Re: Devon Business Practices

    Any confirmation to rumors that Devon is planning layoffs today? https://www.thelayoff.com/t/FxzJT9R

  17. #142

    Default Re: Devon Business Practices

    Quote Originally Posted by baralheia View Post
    Any confirmation to rumors that Devon is planning layoffs today? https://www.thelayoff.com/t/FxzJT9R
    We'll find out pretty soon. I've heard from lots that it is true

  18. #143

    Default Re: Devon Business Practices

    Employees being told layoffs are coming and most will be done by the end of the first quarter.

    Not releasing numbers at this time.

  19. #144

    Default Re: Devon Business Practices

    Quote Originally Posted by Pete View Post
    Employees being told layoffs are coming and most will be done by the end of the first quarter.

    Not releasing numbers at this time.
    That's smart, gives employees time to start looking and jump ship if they want.

  20. #145

    Default Re: Devon Business Practices

    I am thinking this is related to the rumor I heard that they are looking at getting out of the Permian basin entirely.

  21. #146

    Default Re: Devon Business Practices

    Quote Originally Posted by adaniel View Post
    I am thinking this is related to the rumor I heard that they are looking at getting out of the Permian basin entirely.
    What's the reasoning behind this? Isn't this a pretty productive area?

  22. Default Re: Devon Business Practices

    Quote Originally Posted by adaniel View Post
    I am thinking this is related to the rumor I heard that they are looking at getting out of the Permian basin entirely.
    They were having some difficulties there, especially in dealing with the BLM on the New Mexico side of the Permian. However that's still one of the hottest areas in the country right now, so that rumor seems difficult to believe.

  23. Default Re: Devon Business Practices

    Well here is some concrete proof that something is going to happen regarding employees...

    Devon Energy plans layoffs | News OK

  24. #149

    Default Re: Devon Business Practices

    Currently unsubstantiated rumors from TheLayoff.com are that the total number laid off will be close to 1,400 - nearly one quarter of the company. If that rumor plays out, along with other rumored layoffs, this could get pretty rough for OKC.

  25. #150

    Default Re: Devon Business Practices

    ^

    They did not mention numbers at all today so I suspect that is just a number someone threw out without really having legit info.

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