Waiting for some updates from my manager of impact on Schlumberger after GE/Baker announcement
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GE has a lot of advantages in terms of technology development and management culture. Their reputation in other industries also helps to reshape the market share. I do not doubt that GE-Baker will be the No.1 in oil service market couple years ahead.
who the FCUK really needs schlumberger to do premium service onland. go belong in the offshore world. it's like driving a maserati in the desert. no one got time to waste money anymore! vertical integration, performance contracting my @$$ . with Midland, OK (gas play) being the hot zones, schlums can't even get their sales people act together to offer true combine solutions competitive. Not saying SLB won't retain leadership in its engineering solutions, but sh--, the people on the ground have lost their compass from all the latest M&A activity (cameron) or "transformation"..
goodluck schlums
taking me golfing won't do anymore
Cementing has always been a loss-leader - bid cheap on the cement work so that you have a shot at the frac later. Pumping services is mostly low-tech brute force below the shoulders operation (that means no brains involved) and just about anyone can pump water with a little dirt in it much cheaper than Schlumberger. The whole PPS operation should be spun off, called Dowell, and allowed to die or thrive on its own merits.
SLB executives are sending their CVs across to GE and are therefore not available to comment currently
just got a job with GE, I will nail schlum every way I can
You are not likely to get any information from your manager regarding impact from GE/BHI joint venture. They don't know what the outcome will be and it will be guesses at best at this point in time.
I predict a winding down of Frac (at least in NAM). It hasn't been a strength and costs to much $$$$. I will guess a greater focus on Characterization and Drilling. Well Services as a segment is questionable under that scenario. Still some strength in Cementing and PDP, but Frac is a millstone around our necks.... and Coil Tubing may as well have a toe tag on it.
More layoff, especially for low tech end segments, such as legacy smith company.