Goals in Oil and Gas Industry

[Anisha fatima + 8]

What is the short-term, long-term goals in Oil and Gas Industry?

[Douglas Buckland + 6,308]

Survival

[Prometheus1354 + 178]

it's 4/7/20 and the opening bell is about to be rung on the Street.   CNBC (Squawk On the Street) is talkin bout how XOM has announced a 30% cut in remainder of 2020 Cap Ex.  They are saying most of this will fall upon the Permian; as it's the 'easiest' to 'turn on & off'...

This speaks directly too Doug's reply.  Survival.  Yesterday there was a lot of questions about Why XOM hadn't yet announced any cuts in Cap Ex. They are but one piece of the puzzle. A large piece no doubt. But the concern is/was, Why was it taking them so long to acknowledge the fact they were 'Venting' (a nod too Apollo 13) at a high rate and apparently ignoring this. Most if not All the players both big & small are scrambling to conserve cash, hopin they hang on long enough to see the sun rise on the other side of this whole COVID-19 mess.

The 'question' as posed in the thread starter is a 'loaded one' in some respects.  Why? Well for one, it 'presumes' an already decided upon response.  Second it is ambiguous.  It appears to accept the 'obvious' reply forthcoming; yet seems to be seeking a Deeper more fleshed out thought process. Or I could be trying to run my preconceived notions downhole while ignoring an overlooked 'venting' on my part of critical mass. Thus leaving me with a dryhole where there appeared on the surface a deep and plentiful reservoir of potential in my reply...  So enough chit chat about the color of the sky as the sun breaks upon the land; here goes:

Short term - SEE Above XOM comments.

Long term - Time and again the industry is hit with crisis. Time and again the 'industry insiders' declare "No more! Enough with the Boom & Bust cycles. Hire & Fire. Spend like a bunch of drunken sailors on shore leave when 'times are good'. Then it's Doom & Gloom when the hangover of a slowdown hits".  Then do something about it.  Other industries have.  After my time in the Corps (I was a 5924 Sr. Pulse Radar Tech: HAWK Missile Syst.) was over, I went to work in Silicon Valley; putting my Radar electronics training to work at multiple contractors. I worked on the HAWK, HARM, AMRAAM, Sidearm and Sidewinder missile programs. I also worked on the ALQ-184 ECM/ECCM program. Then the Wall fell, the Clintons came along and I was out of not just a job, I was out of a career that I Loved!  Health issues also factored into having to walk away from the missile business. 

I went back to school and found myself in the Wastewater industry.  I was hooked!  I loved what I did and I loved who I worked for. (ITT Water & Wastewater)  I ended up as a Sales Engineer in the Instrumentation group. I soon found myself involved with Fracking. Monitoring flows and treatment of Flowback/Produced water.  My point is, I was faced with a serious issue and had to adapt.  No, I'm not sayin everyone walk away from the oil business. Far from it. What I'm sayin is, the powers that run things Need to adapt the way they've done things to allow them better footing when things turn lean.  Goodness knows we have plenty of data that if applied will help flatten out the cyclic nature of how things are handled, good & bad.  Just my three cents...

[Anisha fatima + 8]

Thanks for your response dear members.