Let's face it. It's the oilfield. We know it will be cyclical. There are companies who can weather the storm and those who cannot. Companies like SLB and HAL who are unable to weather the storm are 2nd rate losers. The real companies plan and weather the storm while the BOTTOM FEEDERS like SLB lay off massive people. you SLB folks can claim high and mighty but the real companies are laughing at you LOSERS.
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SLB went on a tear buying companies and subsequently destroyed most of the value they bought. The place is run by clowns. It’s easy to see once you are out of that bubble and working for a competent organization. SLB reminds me of a high school type hierarchy.
Dam ya not da sharpest pencil der boy. ya fact all be wrong.
Working for a major operator right now is way better than working for a service company and it's not even close. Always has been, but right now is when the difference in stress and stability is night and day. This is when you get to see the true nature of a company's business practices.
The oil price will remain at $60-$80. OPEC used to control the price like de Beers controls the price of diamonds. $60 of the price of oil has always been speculation by the greedy leeches on the Stock Exchange. There is too much oil now. The wholesale price has jack all to do with petrol like the UK morons think but it is the manufacture of plastics that guide demand. You lot need to read about economics . If no one buys oil at $50 then they ain't gonna buy at $90. Fracking has worked and we now have surplus which will not disappear overnight. Get used to the new way of things - the good times when oil companies could charge ridiculous prices have gone forever.
Well, SLB is on a tear buying up all sorts of other companies and positioning themselves for down the road. They have deep pockets. They just have to weather the storm. Outside of SLB and HAL, their competitors are actually doing jobs for less then break even. Give them 12 to 24 months and they will fold. This oil price dip WILL NOT be short. It most likely will last some time as it is geo-political move to hurt Russia when the oil price does return in the future to a higher level, their will be less players in the market, no one in the market will be in any rush to expand, and this will actually push oil prices higher the world over.
All the companies you mentioned are bottom feeders.
It seems that Hal, BHI and Weatherford aren't weathering this storm any better then SLB..They are ALL laying off...and the Majors are too not to mention the ships supplying the rigs offshore are idled at the docks, the exploration is on hold....yep...you might say this downtown is "global " and effecting more then just SLB. I suppose if you work for SLB, then their layoffs would be more painful to you; I'm sure those working for the other big support companies feel the pain from their layoffs.
My opinions may have changed, but not the fact that I am right.