Thread regarding Schlumberger Ltd. layoffs

Current layoffs and prospects for 2016

The whole industry is hurting, so nobody should be surprised. people expected that prices will bounce back in 2016, that seems unlikely now, so all #oilandgas companies are reacting right now and cutting again. keep in mind, the capital budgets are in already, we know what's there, we know what's labor demand going to be so it's ok for managers to move right now, cutting now is better than cutting later if they already know that their capex will be lower. that's why you see a huge wave of cuts now, there will be more to come in Dec 2015 and Jan 2016, possibly feb 2016 and things will stabilize at that point. We will have a very bumpy 2016 here in Houston (and in other areas that heavily depend on #oilandgas)

| 2097 views | | 3 replies (last December 5, 2015)
Post ID: @OP+EMjHm1Y

3 replies (most recent on top)

Instead of rig counts, maybe a metric going forward is the expected # of annual barrel of crude consumed by different age brackets. And then a sensitivity analysis of technologies / situations that may increase or decrease this ratio. There needs to be a new product that requires crude/gas. If transportation miles, plastics, electricity demand remain as the pure fundamentals of o&g, then energy efficiency technology will simply cancel out the demand increases from higher population.

Post ID: @1mro+EMjHm1Y

Oh, boy genius is back. How did you figure this one out Sherlock?

Post ID: @1emy+EMjHm1Y

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