There will be a lot of pain at 10,001 Richmond Ave, Houston and in Gatwick UK.
Schlumberger is exiting the marine and land seismic acquisition market, and will turn WesternGeco into an asset-light business focused on multiclient, data processing, and geophysical interpretation services (19 JAN 2018 earnings conference call)
Vessels cold stacked by Q3 2018. Land to continue for awhile (years?) to complete contract
60+% reduction in WPPC Penang
50% reduction at WOTC Asker
when paal became ceo, first thing he wanted to do was to get rid if WG. Board Members including Gould who had their hand in creating WG ... stopped him doing that.... then.
https://seekingalpha.com/article/4139108-schlumberger-goes-asset-light-marine-seismic
US Shale killed exploration.
Soon it will be like the coal mining industry.
No more glamour.
All equipments rems will be closed if no buyer interested, meaning no future for Asker Norway and Penang Malaysia. Operation end too, so Gatwick has no luck, Russian has been active to get some vessels from WG,but I don't think this can support any center mentioned, it's more asset on sale. Data processing, Stavanger Norway will still work for multiclient.
Personal opinions by looking at Ålesund boy's statement.
What will be the impact for WesternGeco in Penang and Norway? I know there are some decent footprint there as well.
What a load of bull. WG is going nowhere but the big bananas seem to think it will.
Sis to merge into WG too.
Bye bye sis