Normally there is enough cash flow to cover any bad management or even bad luck. You can make mistake after mistake and still make money in oilfield services, just a matter of how much youll make. Somehow wft managed to go above and beyong or under and below. I know they lost some good work for having junky equipment sometimes. Well its over
Well stated, @Z5eP7Ed-1rom.
My management is so bad, my area product line manager hasn't called, emIled, or spoken to me in almost two months. Same for geozone manager. Im either that good or they are that lazy and bad!
Can’t see any of the big three buying Weatherford out to be honest. They don’t need the headache and are restructuring themselves as it is, making changes to face the future.
The only people who could buy Weatherford lock stock & barrel is somebody wanting to get into the industry with a set up that is a going concern, Weatherford have offloaded a lot of debt and could be bought up this way. However the market is not good and I can’t see anyone trying to buy in at the moment with margins so tight and competition for the small amount of work so hot. I can see Weatherford getting sold off piece by piece with artificial lift and trs being desirable as they are the cash cows. This will probably happen as Weatherford makes no secret of its future being in drilling and digital tech. I think in the future Weatherford will be a company with no more than 5000 employees worldwide, what they can sell off they will.
Big Red already knows your problems intimately. Remember all the Halliburton losers that went to Weatherford? Well they get drunk and whine to their Halliburton friends about Weatherford.
Anyway Halliburton is cleaning house with their older workers.
You’ve lost some good people and kept the ones that kissed their a--.
Yes it looks like surrender to halliburton. Been failing for 17 years halliburton won by default.
WFT had the worst management system in the US ever. The managers were string pullers all the way from Houston on down to Midland, NE, Denver. Made it hard to work with with in your Product Line between areas. When WFT acquired the company I worked for the writing was on the wall. To top it off HR added insult to injury. Too many PC people afraid to do what is right.
The only thing we can hope for is a takeover because when that happens the first thing the new company does is sack all the managers. They put their guys in and start to haul a--. That’s the best scenario for us. Big Red would be the best option at this point.