The majority of the employees will be delighted. Another Paal acquisition bites the dust
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they just hired an SLB President to clean up the mess
Trust me, NP’s executive Mgmt leaves a lot to be desired. Pretty much Totally Inept
Ex NP Mgr- your discussion of Alliance is BS. It’s easy to turn nice profits when you don’t give OBM credits at the end of the well as Alliance did with EOG in South Texas. Which is exactly why ADF sold out, investors pressured SS and he couldn’t buy his partners and investors out. He HAD to sell out. Understand that know it all. Which is exactly why NP is not even in the top 3 in market share in the Permian, go smoke that nimrod
SLB would be much more successful with already-profitable acquisitions if they would act as a holding company and let the acquired entity continue with its individual culture. Imposing a foreign culture (pardon the pun) and forcing seasoned professionals to report to ill equipped SLB managers is a recipe for disaster. How many times must this model fail before they get it? Arrogance is blind.
SLB is trying to get Cash. So How much CASH NEWPARK will give and be able to generate? Those guys are not even able to manage their company as is. Everyone can complain about how MI was great before SLB or what. MI seemed to work fine with SLB until 2016. SLB paid a good amount for it. If MI is doing so poorly and SLB screwed it up so bad, please point out a competitor that yields superior profit margins, and compare the financial performance.
There are right now the same posts about HAL or BHGE. WFT got bankrupt, SPN is next and so are a 100 of IOCs in the permian and plug makers. The old way is not the solution to this new environment, in economics the same causes do not produce the same effects.
Safe to say that all this is fake news !!!
Newpark does not have cash to buy MI, nor the balance sheet. Not sure where this rumor comes from.
MI will be better with SLB than with Newpark.
I worked for M-I when it was a 60/40 split, and thought it was a great company. I was let go before SLB took it over, and very sad at how poorly managed it was. Hopefully, it will rise to prominence once again.
They're still transferring some of the few remaining technical experts from slb into MI, which I guess confirms this rumor.
M-I was bought prior to Paal’s reign of incompetence started.
The move of product line Hqs and the cost of it is the least of the company concerns. 1 because the money is already spent, 2 SLB is after billions.
Now that does validate the truth of that assertion
Fake news. They’re spending millions to move other product line hqs into North Course.
Y’all been saying that about MI still nothing happening
Shutter doors and take write off
Hope all the SLB managers transfer out of Florence Ky. They have destroyed a great company.