How are the negotiations with MI going?
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Taking a pretty good whupping today before earnings report in a few hours with Dow up over 100 points.
We are about to see how bad the bleeding is..........
US rig count down to 830 rigs. (Now down apprx 240 rigs from year ago.) Seems to be headed under 800 rigs by 1st of year. 1st Q of next year looks dismal, at best, right now. Probably nothing worse than $53-57 oil /$2.30 ng. Nobody can make any Real money but many left just can't quit. SLB and HAL openly admitting they are cutting back. nr stock took it on the chin Friday with Dow/S&P up pretty good and oil stable. ( the dump before earnings release?). Friday tells the tale. Probably only hope is in mats. p probably in back room trying to figure out to pay himself Another Big Bonus in April while having to announce more dismal results.
$6.99 earnings (or lack of ) in 2 1/2 weeks
Oil @ $51.75 Nat Gas @ $2.23 SA back to pumping 100% @11.3 M bbls per day. Dow J average down over 1000 points in last 3 days
Oil $52.70 NG $2.26
The Leader's empty lot in Carlton Woods Still for sale for $750K going into October,2019 after being on market this time for over 505 days. Next stop- apprx $14K Property Tax and maintenance bill. For Dirt. Has been an annual ongoing thing since 2014.
Lots of scuttle on the SLB site regarding NP
See where TDW Board just decided they had had enough
NG approaching $2.40 and Falling with Storage at 5 Year Average and 440B's ahead of last year number . In other words, not looking good. Oil slightly below $56 /BBL. Worst place for Oil is $53-58/BBL. No one wants to quit pumping at this price. Too Low to make any real $$$$, but high enough to make everyone want to stay in the game to essentially break even. Will have to go below $50-51 to get cos to reduce output.
What a cluster xxxx.
MI and NP.
The two worst managed mud companies in the USA, merge.
Stick a fork it, NP employees are done if this goes through.
Not since the NP and Milwhite merger, has there been such a total Jack Wagon mess.
I’m glad I left 5 years ago.
Unless SLB will finance and carry the $$$, there is virtually no chance of this happening. As a matter of fact, there is a better chance of NP bringing back the British Buffoon than NP buying MI
And they can bring up the great products- Evolution and Kronos AND show them the sales figures for 2019. Because MI NEEDS another stockpoint in Fourchon, Cameron, Berwick, ICC, Venice, N LA/East TX,West Tx, Rockies ,OK., W.V/Penn and overseas,etc and Definitely more MGT and a sales force (?#@**) whatever
What a combination that would be – The Union of Bad and Badder- You choose which is which.