Major shake up of completions and artificial lift segments coming in Q1 next year. Expect a rough 2020 as with no investment in anything other than digital services we are losing out to competition left and right.
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It is rather sad to see a company that used to be a technology leader being transformed into a commodity provider. Maybe there is no need for innovation in such a mature (or dying) industry or maybe high tech is best left to smaller players funded directly by oil companies, the fact is slb is not, and, for what I can see, will never be the company I was proud to work for.
It's collapsing because their system never worked to begin with. All slb mfg is treated as a cost center, can only sell to slb, and is not allowed to make a profit. Yet, what happens when a so called profit location needs to make money. Where can they get it from when not from the client? That's why cpl, als, and most other segments have made zero technological advances in 15 years. Actually, they are less capable than now than what they ever been. But rest assured, an advisor or sales manager in whatever useless location gets a $300,000 package with zero input or revenue...