Everybody at Bammel please pay attention to the writing on the wall. Step off like Johnny Depp did before you go down with the ship.
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Honestly I wouldn’t blame them if they did? Why hold on to these non profitable business units? Sell them off and invest in your businesses that are actually making profit.
Tuboscope has other issues though. I Next Genned with them for awhile and still have some buddies that work there, it’s extremely top heavy and bloated. They burn through Capex on projects that are consistently over budget, late and generate little to no return. Their inspection equipment is so outdated, it was used at the Phillips # 2. Their management won’t make a decision to save their lives, they’ll just promote some other knuckle dragger to make the decisions for them then cut them loose as soon as they make a bad decision.
Why does NOV hold on to this old antiquated technology known as Tuboscope?
Lol. Nothing is profitable here.
Word is that there’s plans to break up certain business units throughout Wellbore. Especially within the Tuboscope group. Some of the smaller, non profitable units will be desolved while some of the more profitable groups possibly being sold off while there’s still some value.
The katy yacht club better get ready! Time to sell the houses, the cars and the boats!
Is that why HR doors were shut. I just saw some execs leave