Drilling fluids moving solely to wholesale and distributer operations. No longer going to operate as a full-service mud company. The group was always the bastard step-child of the company anyway, but still sad to see it go down.
4 replies (most recent on top)
Drilling & Completion Fluids (and waste management etc) is a high fixed cost game. Anyone serious about this business knows it's high volume/low margin and you need market share (and a strong stomach in bad times) to generate cash. Baker thinks itself as a hi tech company. It has (and has never had) any business trying to run a mud company. Now they have yet another INTEQ implant running the product line into the ground. There are no fluids people left to even run a wholesale business. Wholesale = burn down inventory and shut it down. Baker should've spun Milpark off as a JV decades ago, then it would have free reign to compete with MI and Baroid.
No, they will just send them to the house and pay them.
So they will get rid off mud engineers?
They did that years years ago. Nothing new