Is SLB continuing to support this company when exploration is practically non-existent? It seems like they've dodged a good deal of the layoff activity. I thought SLB was dumping the non-revenue producers.
3 replies (most recent on top)
It is not unrealistic to speculate that Schlumberger will offload WG in the not too distant future. No divers oilfield services company, such as Halliburton or Baker Hughes will want to burden themselves with loss leading seismic exploration in the current or near future climate. Especially as WG is only Marine in it's exploration and in North America it is just about 100% speculative surveys that nobody is going to underwrite at the moment. WG also has a very bad reputation for Land Processing in general. In fact WG are perceived as one of the worst processing companies worldwide with the inability to perform a lot of basic functions adequately from wavelet processing to 3D Tomo and final imaging. It seems more likely that WG will be eaten up by CGV who will want some of the people, the marine fleet and not much else.
It's comments like the commentor below that proves WG people still live with their heads in the sand. You don't have to know WG business to see it is one of the most mis-managed companies around. I just retired this year after 31 years with WG and I do know WG business. it has been and still is an extremely mis-managed company with incompetent managers at every level. So don't begin calling people losers when you don't know Jack about what you're talking about.......loser.
Are you kidding me ? You don't even know about current WG business and you try to condemn it... Typical loser attitude