What exactly is the US Land Transformation I keep hearing about? We have already closed numerous camps, consolidated areas, flattened the org, stacked equipment. Whats next?
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If you are standing around or playing on phone while working cause there is nothing to do - that is what they want transformed.
Be productive and create value or spend time w family ....
Facility liquidation, and personnel cuts to be lean like eastern hemisphere
To economix, you are right on the money. No pun intended.
It's a commodity and once the active Wells depletion rate starts increasing then watch out!
To the survivors there will be so much business they won't be able to catch up.
A cost of living decrease for El Reno
Transforming quarters into nickels
In a capital intensive industry- the wells will have to dry up and once the market prices for O&G increase from lack of supply ...... the few remaining companies that survive will eat again. Until then cut your costs and save.
Transformation = more new VP jobs, less employees. Just check HALworld.
Look at the competition. Do they have G550 jets- NO. Do they have dozens of product managers, technical leaders, marketing managers, and layers of VP's- NO. Halliburton needs good ops folks, good front line salesmen, and good equipment. That's it the rest is nonsense cost and if you don't get rid of it you will be weatherford in 5 years.
US land market is transforming from the belle of the ball into a $5 h–ker.
Layoffs and liquidation