Lay off should subside as the drop in U.S. oil rig counts will push prices to $70 a barrel. Oil billionaire Boone Pickens also see oil back to $70 a barrel by year-end. The bottom has been reached and that is a good news for whoever survives the downturn. Treasure your days off now as there will not be enough hand to cover all rigs.
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Layoffs at BHI will continue until the merge with HAL is complete.
So, if you're in an area that overlaps a HAL area, it's best to keep your resume updated, and all your important files backed-up on an external hard drive since you won't get a chance when you get the heave-ho.
There is no way that the price of oil will be allowed to increase to permit shale oil to be largely profitable. You are missing the big picture. If the rig count goes up, the taps will just open wider. Shale oil was always just a short blip with no longevity. It is not the real problem. It could have easily been waited out. There is a larger and longer term strategy in play that has been so carefully thought out that, short of force majeure, will most certainly succeed. This is a 10 year plan, more or less, and hoping price will go up might make you feel better but you had better plan in case it doesn't. Producers and service companies alike would like higher price but it is a shortsighted strategy. You really need to look out to 2025, more or less, to get the true perspective on this because the powers that be have seen what will come. The guys running this show are very competent and T. Boone has no say in the matter.
Having worked for a large company that was bought by an even larger company, there was nothing good about that experience. BHI has two problems now - the price of WTI and the Big Red tsunami about to strike. Of the two, Big Red is by far the greater threat. Nothing they will do will need to make sense or follow any logic that you can comprehend.
Halliburton (HAL) Stock Lower Amid Sliding Crude Prices
ByKurumi FukushimaFollow | 06/08/15 - 02:28 PM EDT
NEW YORK (TheStreet) -- Shares of Halliburton Co (HAL - Get Report) were lower by 0.52% to $45.49 in afternoon trading Monday, as both Brent and WTI crude prices fall to trade in negative territory, Reuters reports.
being old may get ya' laid off
T.BoonePickens is irrelevant and old or is it old and irrelevant.
Great news! I'm going to buy that Ferrari
Put down the crack pipe. Walk away....