I came to the forum to see if there were any new juicy rumors. Turns out there isn't, but I was interested in someone's post about Halliburton having nothing to offer that second or third tier oil field services company doesn't already offer, even cheaper, and equally good. Do others think so?
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I came to the forum to see if there were any new juicy rumors. Turns out there;
Guy that posted this ‘Above’ is a Halliburton Management Insider-Don’t be fooled.😅
Remember when IBM owned the computer and mainframe data processing ? Remember when the Big 3 automakers owned the market ? The world is changing faster than old men in a ivory tower can fathom.
" JM's directive in 2019/2020 HAL has to make a certain percent in revenue or the jobs were not worth the company's time sent the competition a lot of customers"
That contempt for the small oil and gas producers began LONG before jeffy's "directive'.
Halliburton seems to ignore the fact that the independent's money is just as 'spendable' as is that coming from a major, with the added fact that the independent NEVER gets the 'discounted' rate that is offered to Shell, Exxon-Mobil, BP, Chevron, and the like (plus Halliburton likes to be able to 'drop' their names in the advertising campaigns.
Many years ago, Halliburton came up with the bright idea of offering TWO levels of service, the "premium' service being reserved for the majors, and Halliburton light being reserved for the Mom and Pop independent operators. (I guess they would have gotten the junk equipment, and the incompetent personnel to service their wells)
The ONLY areas where Halliburton has unique capabilities are in Deepwater, HPHT vertical wells, and on jobs where massive amounts of equipment need to be mobilized.
Unfortunately, ALL three are, thanks to the bo-m in shale oil and gas production, (all of which takes place from relative shallow (TVD), LOW pressure reservoirs , has made these unique capabilities pretty much un-needed.
JM's directive in 2019/2020 HAL has to make a certain percent in revenue or the jobs were not worth the company's time sent the competition a lot of customers. Many other companies offer the same technologies without all the added costs. Fact is, many of these companies hired ex HAL employees and some of the ex HAL started their own companies. There isn't a need for the high end services we used to provide. For what the industry wants right now, 2nd or 3rd tier service companies are just as good and cost substantially less.