Shell, Exxon/Mobil, Conoco, and Chevron will survive. There will be some acquisitions made with companies in the EOG type tier. The really really small companies that run lean and know the business will be in position to take advantage of some cheap sell offs from the companies bigger than them, but not big enough to survive or be bought by a large company. It is about to become a bottom feeders paradise.

It has been tough last week participating in dismantling the company I work for and laying off employees and knowing more will follow, and handing down the pay cuts. It is the nature of the beast, something I have done a few times before, and it is still very hard to do. By the time we are done, I estimate we will have eliminated 800-825 jobs within our organization.

I take it, you are in the Industry. Hopefully, you land on your feet soon. Sorry to hear !!

Gosh I hope so OXY still owes my younger brother $400K

We lost 1/2 our employees last week, about 200
A lot of good people
I hope this a short blip in the market, But doesn't feel like it

Know a lot of people in the the oil, gas and pipeline industries. Hasn't been good on a few of them. Hope its short lived but gut says otherwise. BThomas nailed on becoming a bottom feeders paradise. Prayers to all effected by this crud.

They will survive!

I believe so as well........

The downsizing in the petroleum business is tracking the market, just like any business sector does. It will rise again one day so long as we are still fossil-fuel based. A pandemic doesn't move us to nuclear-fusion powered vehicles. A fair number here are members of that sector, so that's where the focus is. There are a LOT of other sectors that experienced downsizing once upon a time, and they have NOT come back. Why? The greed of sellers, and the glutenous appetite of consumers for more more more and cheap cheap cheap sent more and more jobs to Asia, ranging from blue collar to white collar, and even STEM. Look where that got us: We don't even have control of the critical supply of drugs and other resources we need to fight this. China and India can decide they need those things more, and just keep them. We even taught them how to make it, and set up the plants for them. We're so nice! How much of a bargain do you think that big flatscreen TV was now? That and a million other items is a big part of what got us where we are with respect to no longer having the critical infrastructure and capability to take care of ourselves.