With the recent changes, its is evident that the company is getting ready to be sold to a potential buyer, such as Halliburton. Clean-up boyzzzz!!!
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Aberdeen Mafia, huh that's a joke, the Mafia were a well organised operation, organised and Aberdeen don't go together !!!!
There is also the Aberdeen mafia in Houston.
Why buy the debt when you can wait for liquidation and pick up stuff cheap
that would be Aberdeen mafia in middle east
I have been just laid off from Weatherford International in the Middle East. I understand that the new CEO and COO are doing their best to get the company up and running with a new organization structure focused on processes and efficient delivery but you all have to understand that this will take time before it is effective.
Unfortunately, there is a mafia within the organization in the Middle East that is trying to protect its members and the old legacy of Weatherford.
Eastern hemisphere is run by a young lad - you should all see him when he speaks in international events and SPE conventions. The guy is embarrassing and a shame to Weatherford employees.
It is what it is, lets all wait and see if this new structure would bring a value for the organization. Frankly speaking, the company lacks lot of competitive and technology products to consider it as a peer for the major peers in the industry. Engineering fails in every single new product they develop and I found out that the only way that kept them surviving in the Middle East was to offer discounts on services and products resulting in negative cash flows and margins.
In yer dreams. This garbage is going to the dump.
Folks, no one is going to buy the entire thing - this thing is going to be broken into parts and sold.
Completions is already supposed to go to the Schlumberger JV. As they have no deepwater play that has much market share the land (shale plays) is only value.
Labs is a joke at this point
Production has premium gas lift for deepwater but they are over priced in a commodity land market. Pumping units have a lot of competition and are now made in China anyway. Automation is a stepchild that management doesn't understand. They have talked about getting back into ESP market but how they can do that with their debt?
Software seemed to be the new golden child, but a lot of options out there for this and they are in the process of swapping their business model and working to get to their next version of product offering.
Drilling is still depressed. Surface logging is on life support. TRS is a positive with the rest of the rental tools but they need deepwater and overall market to improve to see the benefit here.
Don't forget, they have half a billion in debt and are not turning positive cash flow.
Sell the pieces you can, file Ch13 and come out cleared from debt and go back to an 80's dumb iron focus.
Hal just blew 3.5 billion on a failed merger, can they actually afford to take on this deal
you have no idea how much bull you're saying
The only buyer that would make sense (of the whole) is NOV. GE/Baker has too much of the same. Halliburton too. Schlumberger unlikely. The latter only become candidates if it is split up in components. But with the new structure, none of the VP-fiefdoms fit.
Hey f--- you jack