Hasn't anyone noticed that the entire management team is now Halliburton.
There will not be a Weatherford in 1 yr. The bad product lines
will be sold off to unsuspecting fools. Halliburton will buy the good stuff.
CEO, COO, CFO, West Hemisphere president, and chief legal, all Halliburton.
Not that there is a lot of "Good Product lines" at weatherford, but there
are some hidden gems. Watch this space
8 replies (most recent on top)
Halliburton just laid off 800 so they now have space for the 800 Weatherford Presidents and Vice Presidents....that is what HAL will get in the buyout....
HAL shuttering El Reno. Do they have the cash to buy and what would they utilize with a dwindling workforce ?
Excellent analysis and commentary from historically speaking. There has to be something good come out of this. Best of luck to all the people involved
Its just a matter of time before most of the company split up and sold off as the OP said. When those in subject were still over at the big red H they were dwindling and shaving down camps and had the huge pipe dreams of the mega camps. Only problem is those involved didn't think about logistics and DoT hours and really just did the mom-n-pops a Yuge favor and handed them what business was left when they shut the doors and left town. Even given the fact that things have drastically changed in the business due to US and world economics they have still left much on the table that was quickly gobbled up by the little guy so expect the same to happen with the old W stealth.
In the future there may still be a Weatherford but much like Halliburton the good ol days are gone and it will never be what it once was. At one time due to experience, equipment, and ability they were the first call. There is still a few guys left in the company from the old W but most that actually new what they were doing were layed off, retired, or just passed on to a better life.
It will be interesting to see all of the changes in the years to come and if the company is still around in ten years and what type of business they provide.
Big question is it wotrth buying?
Facts speak
Bang on. They think they are hiding what they are doing. But Chapter 11 was the first step. Mark ran it into the ground for a reason.... He messed up the baker-GE deal and now he is washing his sins
By golly i think you may be right