And it was immediately less funny. I was at a training with a bunch of XTO folks when the news broke. It was like a damn funeral.

Are your initials KD and did you spend time in both Tyler and Midland?

Da F is going on here?

Comeby! said:

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Da F is going on here?

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Zoom out?

Our marketing guys say it's likely a glitch.

GPA this week so….

@ birdman

LOL at Chevron having a decision maker. They have 8 managers at psg 25+ who get together to issue the consensus on whatever BCG told them to do. Chevron doesn't have senior management that could lead a boy scout troop out of a wet paper bag.

They have literally on multiple occasions done the 20-25% cut because that was the number their consultants gave them, and the dog and pony show they put on about reapplying for jobs is just for show, there are names on every box of the new org chart beforehand. The only true placements that occur are for the hi-pots looking for a new gig.

bkag9824 - I punched out a few years ago after a similar run, and it has been one of the best decisions I've ever made. Best of luck!

Shot in the dark - anyone work with or for Warbonnet Construction out of Windsor Colorado?

Has anyone ever worked for Crescent energy or know much about the company. I have a friend that is interviewing there

I'm out of the patch now, but I caught wind of some brutal layoffs in my old group (Sperry R&D) at Halliburton. Seemed very heavy on the experienced and long-term folks. I honestly couldn't believe most of the names I heard that were let go. Sad times.

AggieMainland said:

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Oxy selling OxyChem (chemicals division) for over $10B.

This should make Oxy O&G a bigger target. Less debt, more pure play.

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Oxy gonna get bought out. If it's COP, they don't want the chemical.

Yep. Have some close contacts in Sperry and I was also pretty surprised at some of the names. OG Sperry sun types as well as ops folks who had been through the ringer and earned their stripes in some tough geographic assignments

Dan Scott said:

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AggieMainland said:

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Oxy selling OxyChem (chemicals division) for over $10B.

This should make Oxy O&G a bigger target. Less debt, more pure play.

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Oxy gonna get bought out. If it's COP, they don't want the chemical.

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I dont disagree. We will see how it all plays out.

Pasquale Liucci said:

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Yep. Have some close contacts in Sperry and I was also pretty surprised at some of the names. OG Sperry sun types as well as ops folks who had been through the ringer and earned their stripes in some tough geographic assignments

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Sounds like we know some of the same folks then. I worked closely with Golla and Zaro back when I was there on the electrical side. I was one of the mid/senior guys that got out and went to the big tech companies in CA with a bunch of others. Wasn't a hard decision when they more than double your salary as the starting point, but feel bad for the guys that got left behind there (or the ones that stayed there their entire careers just to get shown the door). The work on oil and gas tech was fantastic but the job security and companies you have to work for...

Comeby! said:

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All these companies are outsourcing.

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Exactly. They are sidestepping tariffs and H1B, but they are still importing Indian labor via outsourcing. Average Indian engineering is inferior but at 1/3 hourly cost, management likes it plus they view engineering as a commodity anyway.

3-4% layoff announced for XOM

Sounds like it may be all international cuts?

Yes, Canada and Europe, but with more to come.

Just waiting for the Q4 announcement from SHEL again, Merry Christmas!

Another major announcing layoffs… this year has been tough and I'm not even on the Upstream side of things. Midstream/pipeline has been slow all year too. Next year seems to be big year though

Maybe they're leaning up globally to be prepared to pick up FANG and focus even more heavily on the Permian.

Canadian gas prices are below zero. Can't be a warm and fuzzy time on the left side of Canada for the producers.

OPEC+ likely to boost production following Oct 5 meeting called by SA.

Coming for market share again...smells like March 2020.

11 Folks let go at SM recently.

What's that as a percentage of headcount? Not minimizing the impact, but seems light for a company their size.

663 employees listed as of 2024 - just under 2%.

https://www.bloomberg.com/news/articles/2025-09-30/permian-explorer-civitas-said-to-explore-potential-sale

https://www.wsj.com/business/deals/berkshire-hathaway-occidental-petroleum-deal-80a78f2e

These large company layoffs have to happen every now and then, but it's just poor leadership in the good times and lack of accountability as the tide turns.

I hate to see the industry contract and certainly empathize with those being laid off, but from the upstream OFS side, the private, responsible companies had some layoffs and didn't replace natural attrition, in preparation for this current downturn a year ago.

It's hard to feel sorry for these folks when we're beat to death on price, forced into lower margins, forced into cuts, then call on operators who have three engineers per rig and listen to jokes/comments about service pricing being too high. It feels like we finance these personnel overages, then the operators act surprised when layoffs are announced.

/rant over, thanks for listening

As a side note: Can someone help me understand why these big companies announce huge layoffs months in advance? Are they just hoping to send morale so low people just quit, negating their severance options?

Can't open… Can you summarize re Civitas?

Quote:

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Civitas Resources Inc., an oil and gas explorer with operations in Texas and Colorado, is exploring a sale as smaller shale players pursue deals to gain scale, according to people familiar with the matter.

The Denver-based company, which is working with advisers, is considering a tie-up with a similarly sized or larger peer.

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