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ConocoPhillips Employee Reviews about "downturn"

Updated Aug 20, 2020

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Found 34 of over 1,307 reviews

4.1
75%
Recommend to a Friend
71%
Approve of CEO
ConocoPhillips Chairman & CEO Ryan M. Lance
Ryan M. Lance
547 Ratings
Pros
  • "Work life balance and have SPIRIT value(in 115 reviews)

  • "Great benefits for family including bonuses(in 78 reviews)

  • Cons
  • "The company is extremely volatile and sensitive during oil price drops and contractors are highly vulnerable to layoffs yearly(in 40 reviews)

  • "Contractors get cut first in a downturn(in 34 reviews)

  • More Pros and Cons
    Pros & Cons are excerpts from user reviews. They are not authored by Glassdoor.

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    This rating reflects the overall rating of ConocoPhillips and is not affected by filters.

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    Reviews about "downturn"

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    1. 5.0
      Former Contractor, more than 3 years

      Great Company caught in the downdraft.

      Jun 21, 2017 - Anonymous Contractor in Houston, TX
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Great geoscientists at all levels. Employee friendly. I was treated as a regular employee even though I was a contractor.

      Cons

      Caught in the severe oil industry downturn. Sold off the downstream business that could have helped in this downturn.

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    2. 4.0
      Former Employee, more than 10 years

      Not bad

      Jun 11, 2019 - Senior Geoscientist in Houston, TX
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Good pay and benefits. Overall, your coworkers are competent, want to do their best for the company, and are willing to help others succeed. As everywhere, there are occasional people who only care about themselves, what's in it for them, how it makes them look, etc. With good navigation they can often be avoided.

      Cons

      When prices are low formal training opportunities vanish. Old-school culture and management values employees who tow the line, and who mimic and parrot. The status quo is that the company sheds about 5 - 10% of employees every 2-3 years on average. When prices are low, the cuts are much more significant and frequent. Fewer career opportunities as assets are shed during the downturn.

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    3. 1.0
      Former Employee, more than 8 years

      As ye sow, so shall ye reap

      Mar 8, 2016 -  in Houston, TX
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Large oil company with global opportunities. The new CEO, Ryan Lance, has his hands full and is doing the best he can with a lousy situation largely created by the prior CEO, Jim Mulva.

      Cons

      The prior CEO was less than competent when it came to succession management and leadership development; his constant firing and churning of the upstream leadership and risk aversion led to sub-optimized investment performance. As a result of the $34B writedown of 2009, he was named the worst CEO of the first decade of this century by Business Week magazine. Rightly so. He paid too much for assets (he preferred to by oil & gas reserves since he couldn't find any), ran off talented middle & senior level management, dis-incentivized the organic development of new assets (hasn't found any new oil in 16 years), developed no deepwater capabilities, alienated petroleum engineers and geologists, kept investment strategy secret (even to his own staff), sold off valuable assets, kept lousy assets despite good offers and split the integrated company right before the inevitable cyclical downturn of the oil & gas industry. This has left a husk of an upstream company which is incapable of operating like a smaller independent oil company, is struggling to retain what little talent is left and is scraping for investment cash flows (cut the dividend last month).

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      1 person found this review helpful
    4. 3.0
      Current Employee, more than 3 years

      three steps forward ($100 barrel oil) & two steps backward ($50 barrel oil)

      Apr 26, 2015 - IT Analyst in Bartlesville, OK
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Excellent opportunities for interns and on campus recruits. Current information technology initiatives do have the potential to move the company to the top of the peers. Initiatives associated with diversity and inclusion exceeded peers. Houston location excellent with gym, cafeteria, covered parking, access to upper management and access to career opportunities at the peer companies.

      Cons

      Initiatives associated with diversity and inclusion feel to the wayside with the downturn in the industry. Divergent efforts associated with information technology with the organization. CIO sets the vision for the organization but middle management sets the goals and objectives. The middle management efforts are often in conflict with the efforts of the CIO. Class systems associated with university, birth place, work location, degree, age, sex, color, religion, ethnic background, national origin, sexual orientation. The employee networks emphasize the class systems within the organization. Non Houston locations not desirable both professional and personal. Bartlesville location is a dead end both personally and professionally.

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      3 people found this review helpful
    5. 4.0
      Current Employee, more than 3 years

      Solid Company that promotes from within

      Oct 25, 2016 - Energy Trader in Houston, TX
      Recommend
      CEO Approval
      Business Outlook

      Pros

      COP is generally a good place to work that promotes from within. If you stick around, they will give you opportunities that maybe would be unlikely elsewhere. If you want to have a career here with the potential to move through different job assignments, it is possible. Corporate culture is positive, it seems that people here generally care about you, benefits are industry competitive. Good location in Energy Corridor, beautiful complex, and great onsite gym, medical and dental clinics, cafeteria.

      Cons

      Because they promote from within, you will find some managers that are truly ill-equipped to be in management. The company did not position itself very well to weather the oil price downturn through means other than headcount reduction. The Executive level decision to not hedge crude oil production as an independent E & P company because it is a "zero sum game" is considered by many to be the riskiest strategy of all.

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    6. 5.0
      Former Intern

      Great working environment but stressful in industry downturns

      Sep 26, 2015 - Geoscience Intern in Houston, TX
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Great people, benefits (especially their retirement matching), and projects. I thoroughly enjoyed working here. I also respect their safety standards. It's obvious they have much higher safety standards than other independent oil companies.

      Cons

      Company increased its dividends during a downturn and as a result had to lay off 10% of its employees. It lost some very good talent from this. The company is also less stable in downturns since it spun off Phillips 66.

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    7. 5.0
      Current Employee

      Good to their employees

      Nov 8, 2016 -  
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Great benefits (although they have degraded slightly recently), smart people, flexible schedules (9/80, 19/30, etc). People that bring extra value to the company get recognized (and compensated) for it.

      Cons

      The downturn has soured the atmosphere. When layoffs are imminent the mood is very gloomy. Management holds lots of town halls and tries to be transparent but often falls short.

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    8. 4.0
      Current Employee, more than 1 year

      Good Job

      Jun 24, 2015 - Associate Drilling Engineer in Houston, TX
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Great culture, lots of perks. Nice gyms, great benefits. Very good starting salary, but the bonuses are not the best in the industry.

      Cons

      In the recent downturn, they layed a lot of people off only to hire back just as many because they didn't want to go back on their offers. It doesn't make you feel particularly valued or safe for the next round of lay-offs. Lots of management. Even though they are the "Largest" independent, they still operate like a Major. Though they do seem to realize this and are working towards being more like an independent.

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    9. 4.0
      Current Employee

      Recognition of what needs to be done

      Dec 22, 2015 - Anonymous Employee 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Anticipated price downturn in planning cycles. Seems well positioned to ride through the current price environment. Portfolio is solid within L48.

      Cons

      Tackled re-org this year as part of plan to address price downturn. In hindsight, COP missed an opportunity to address reorganization when it spun off PSX. It consciously deferred a reorg then and was then forced to push through it in current down market. Tougher than it needed to be.

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    10. 5.0
      Former Intern

      Great place to work

      Feb 3, 2017 - Anonymous Intern 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      People are incredible and care a lot for your success, solving challenging problems, pay well

      Cons

      Bartlesville is an okay town if you like small towns, cyclical nature of the oil business (I was there during a downturn)

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