Everyone on here keeps asking about what's going to happen with pressure pumping so I'll give y'all a few explanations since "Haker-Burton" hasn't released info on specific divisions other than 3. Fyi, I'm just an oilfield wife but have spent almost 40 yrs around it and I have a lot of knowledge of how businesses think n operate...a lot of it is common sense if you look outside the box too.
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Anti-trust laws and DOJ prohibit 2 large corporations to combine the same services or divisions because it creates somewhat of a monopoly, where they have too much power and there's not enough competition, so somethings have to go or be rearranged.
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Halliburton is largest provider of pressure pumping services in the U.S., it makes no sense for them to divest or close their division. They bought BH to acquire the technology and divisions they lack or is inferior, not for completions.
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Is it just me but from what I've read for the last 3 months is that some BH PP yards are being closed but the Halli yards in the same towns aren't closing. A few BH yards have been relocated, most likely to an area where Halli doesn't have one or it's not very big. It also makes no sense to have 2 PP yards in the same town or in close proximity of each other.
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It's pretty much the norm that even if the buying company keeps a specific asset they eventually rid it of the other company's employees, but may keep a few specialists and upper management, and bring on their own people. The people they do keep have to meet their hiring and employee requirements and policies. What worked for one company may not be suitable for the new company. History shows that big corporation takeovers never end well for the purchased company's employees.
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PP is costly so with the current and indefinite downturn any company that acquires or has a PP division or company will be losing a lot of money for who knows how long...this is not what any company wants or will do unless they're willing to wait it out and pray that they'll eventually make a massive profit to cover the purchase, overhead, and lost revenue before going under. Also if GE or Pioneer Energy buy PP they're not going to maintain and keep every yard open.
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I personally believe that if Halli wanted more PP yards they would of opened their own because it costs less and isn't as much of a legal hassle.
And I'm sure I missed something but can't remember it at the moment. BH PP and most of the other overlapping divisions will have to be sold or discarded of if hypothetically they were to be merged and became TOO BIG for the industry or compared to the industry standards.
Yes I'm a chic but if any of y'all disagree with me, disagree with me because you have a valid point not just because I'm a damn chic. Y'all might have the muscle and a few of you have brains too but I managed my ex-husband's oil & gas consulting business, have invested in oilfield services stocks, and worked for big corporations like Halliburton and BH (not oilfield but for an extremely large commercial real estate company and they did the same thing). So no haters based on my sex alone please.