PPS Group (Pressure Pumping / Pipeline Inspection)

With the current changes in the CDN PPS group recently, I suspect it will be on the market for sale within 60 days or less. No company in their right mind would purchase a pumping group at this sensitive time in the market so I do suspect they will just layoff the employees and either park or dispose of the assets. I drove by Trican, Calfrac, BHI etc and the amount of units parked was "CRAZY" last week. Selling the asset is best but disposing of the assets is the final step as they can write them off during the tax filing period, take it as a business loss on the financial books. I do suspect the pipeline inspection part will be sold as they are somewhat profitable on a global scale compared to pumping. They will package groups together and use a more profitable group as leverage to attract investors. Another short term solution they will look at is consolidating facilities, this is also a cost saving method during a market correction. Everyone has to remember, HAL and BHI are "public traded organizations" and the first priority is "ALWAYS" revenue / stock market value hence share holders value. I am a share holder so lets keep that stock increasing. Management will do whatever it takes to retain those priorities at all cost. Employees - capital assets are just numbers in a big game. When the numbers don't make sense they adjust the numbers ( employees - assets) to make sense.

I have many friends in BHI and if I could hire them all I would have done so already but I am not the leader of this organization.

Best wishes to all and keep your heads held HIGH.

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I was blue for quite a few years in excess of 15 but because of the direction and lack of development in key areas I decided to cut the umbilical cord. Honestly, one of the best decision I ever made. I did have a good run but managements lack of focus and unwillingness to listen to reason was unbearable. In the end, like the first poster commented on, anyone - anything will be sacrificed to keep shareholder value at a high level if not heads will roll at the highest levels of management. Its simple business economics. Looks at the companies surrounding you are making changes and following the same direction. They are all doing it and will continue base on the market conditions.

Thank you.

I will always be BLUE. I retired this year after 30 years. My heart goes out to my Baker buddies.

Halliburton Co. and Baker Hughes Inc. plan to begin seeking buyers next month for as much as $10 billion in assets that the oil-services companies need to sell to complete their merger, people with knowledge of the matter said.

The companies are planning to unload at least four batches of overlapping business lines in order to win approval from the U.S. Justice Department for their $34.6 billion combination, said the people, who asked not to be identified because the matter is private. These include Halliburton’s drill bits and directional drilling operations and Baker Hughes’s cementing division, the people said.

They also plan to sell a bundle of their completion-tools lines, the people said, and could select financial advisers to oversee the sales by the end of the month. The divestments are needed to satisfy antitrust concerns and the size could range from $7 billion to $10 billion, one of the people said.

Halliburton has said it would sell businesses that account for as much as $7.5 billion in revenue for regulatory approval. Halliburton and Baker Hughes, the world’s second- and third- largest oilfield services companies, are creating a larger footprint with a broader technology portfolio to better compete against Schlumberger Ltd., which will be about twice the size of the combined companies.

Thread regarding Baker Hughes Inc. layoffs

PPS Group (Pressure Pumping / Pipeline Inspection)

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