2021 layoffs MEGA THREAD (Part 9, by popular demand)

[ExtraSlow]

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Because of their cost per barrel, they're already on the way to being the gem.

For sure they are. People who laugh at CNRL are missing the point.

[Darkane]

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For sure they are. People who laugh at CNRL are missing the point.

What kind of $$/bbl is CNRL at?

Edit: $20/bbl for synthetic. That’ll work hahah.

“Can you put on some bacon, or is it too hard to fold with the double meat?”

https://www.newsfilecorp.com/release...ar-End-Results

[killramos]

Everyone knows Smiles/Barrel is the correct metric

[ThePenIsMightier]

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What kind of $$/bbl is CNRL at?

Whatever an exploded coker fire costs.

[ExtraSlow]

From the CNRL 2020 annual report, for operating costs only, it's $12.42 CAD/BBL for "conventional oil" and $20.46 CAD/BBL for oilsands and $1.18/MCF for natural gas.

There's a lot in the CNRL annual report, and if anyone wants a free education in how a large canadian oil buiinsess works, it's worth a read. Or at least a skim of the first 49 /116 pages.

[brucebanner]

Around $18 / barrel is what I'm told from a horizon site employee.

[killramos]

Covering OPEX is fine. Now how about paying off sustaining capex?

[ExtraSlow]

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Covering OPEX is fine. Now how about paying off sustaining capex?

That's loser talk.

[killramos]

That’s just sustaining Capex. How about paying out growth Capex? A&D? Decommissioning *gasp*?

What are those?

Cost per barrel is such a silly thing to talk about.

[ExtraSlow]

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That’s just sustaining Capex. How about paying out growth Capex? A&D? Decommissioning *gasp*?

What are those?

Cost per barrel is such a silly thing to talk about.

You are right. Share price is all that really matters.

[Darkane]

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That’s just sustaining Capex. How about paying out growth Capex? A&D? Decommissioning *gasp*?

What are those?

Cost per barrel is such a silly thing to talk about.

Someone show this guy to door. Mmmmmmaythxbye

But you’re right.

[nicknolte]

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For sure they are. People who laugh at CNRL are missing the point.

I was half joking. CNRL's ability to keep operating costs low is good and places like Suncor should be taking notes, but at the same time, the work environment sounds shitty and I've never met anyone who genuinely likes working there.

If CNRL is the shining gem of the oil patch, that's bleak. There is balance between "profitable company" and "good place to work" and none of the Canadian oil producers have reached that balance since the 2015 crash.

[msommers]

Heard Whitecap is a great place to work still.

[ExtraSlow]

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I was half joking. CNRL's ability to keep operating costs low is good and places like Suncor should be taking notes, but at the same time, the work environment sounds shitty and I've never met anyone who genuinely likes working there.

If CNRL is the shining gem of the oil patch, that's bleak. There is balance between "profitable company" and "good place to work" and none of the Canadian oil producers have reached that balance since the 2015 crash.

There's several beyond members who work there, but they generally keep their heads down because it becomes a bit of a shit-show if they mention it. I'm a former employee, I have opinions, but honestly, whatever rating you give them, the rest of the industry has dropped a few notches, so CNRL is less of an outlier than it used to be.

[Disoblige]

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... but honestly, whatever rating you give them, the rest of the industry has dropped a few notches, so CNRL is less of an outlier than it used to be.

So true.

[Euro_Trash]

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I was half joking. CNRL's ability to keep operating costs low is good and places like Suncor should be taking notes, but at the same time, the work environment sounds shitty and I've never met anyone who genuinely likes working there.

If CNRL is the shining gem of the oil patch, that's bleak. There is balance between "profitable company" and "good place to work" and none of the Canadian oil producers have reached that balance since the 2015 crash.

I’m a previous CNQ employee and can honestly say I enjoyed it. Obviously had it drawbacks but every shop does.

[ThePenIsMightier]

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I’m a previous CNQ employee and can honestly say I enjoyed it. Obviously had it drawbacks but every shop does.

That's a valuable comment.
I think more people need to differentiate between the inevitable staffing level fluctuations of a commodity-producing industry and a bad culture or a poorly run organization.

[ExtraSlow]

Also worthwhile differentiating between a "great place to work" and a place that allows you to do great work. Both are important, in different proportions to each individual. I've been lucky enough to experience many versions of that.

CNQ was by no means the worst place I've ever worked in terms of employee satisfaction. About middle of the pack based on my career actually. They are really good at a few things that I think are really important for my personal satisfaction.

[flipstah]

Does Crescent Point still offer employee breakfast?

[suntan]

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Does Crescent Point still offer employee breakfast?

Yes but each breakfast now costs $600.