I personally think that no more layoff because oil price is $30.
Somebody tells me otherwise.
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$30 was low, returning to $30 is not good enough. Besides, Shell's competitors are laying off, and it has to answer to the shareholders. The real questions are how many and how soon.
HAL is a peanut compared to Shell, XOM, CVX, you will know what I am talking about by comparing the market cap. OFS business model is completely different than any major E&P company. When we say we are increasing efficiency means ... we are squeezing the service providers for Lower price and faster Service . They don’t have any producing asset, when we don’t drill they don’t make any money. That’s why OFS companies are the first one to lay off and the last one to recover from a downturn.
Thanks to OFS companies for helping us increase efficiency by keeping the cost of field development low during the last downturn. Going forward it may not be the case as many OFS may not survive this one...
May be Houston mostly in NA, since Canada did most of lay offs in last re-org (refineries on sale is safest to get potential buyers)
Halliburton is nothing like Shell. They sell oilfield equipment, Shell refines and produces oil.
I’ve been in several conference calls this week and She’ll is in the middle of layoffs. One MOR in June and another later in the year.
Halliburton is shutting down for the remainder of the year; at least here in San Antonio where the remaining employees who supposedly “survived” were told to go home and wait for another corporate conference call to begin at 2pm, but word from the benefit rewards center is we have 60 days left before we’re officially furloughed for the remainder of the year. So yeah, I’m telling you otherwise from the standpoint that Halliburton is the largest oil tycoon in the world and they’re shutting down operations