It has been decided that Blake will gradually retire and turn over the reigns to Jeff B. The exact date is not yet set but it is known that Blake’s current contract will not be renewed when it expires. Blake will continue as a director from that point on as
long as needed or until DQ is sold which ever comes first.
Board has also decided that for the time being
R&D efforts will be minimal if any, TIW proprietary
technology to be sold off.
10 replies (most recent on top)
Controls is a joke. Paid trucks, waisted time sitting around making way more than office workers
With degrees. Anyone could service that equipment. Dead end job, that’s why I quit
DQ Controls is a Rolls Royce. In a down market DQ is not cost competitive and DQ did not do a damn thing to offer a Chevy version. That’s why they are not competitive.
Management thinks they can sell trees without controls division and that is true for few trees here and there which is where the market is now.
Is DQ position for when oil prices come back? No they are not.
Will oil prices come back? Unlikely in near term.
What other sources of revenue did Blake create? None whatsoever....that’s why Bird will be a CEO within 18 months....
The future of DQ is in cost cutting, supply chain, outsourcing and eventually sale or merger
The important thing about controls is reliability and we are better than the competitors in that
Do you think that they can sale Control right now? By your opinion, Controls is good reputation. But Blake said that Its technology is way behind.
They won’t. They all know Houston’s delivery performance is terrible. Weirdly the only part of Houston that do have a good reputation is Controls and that’s the part they are trying to sell!
The price will drop even more. They will likely lose most of their Aberdeen work to BH. Why would customers buy equipment from Huston when they can get it from BH right on their doorstep.
Of course not. The share price now is same as it was 15 years ago. They will just want something back now. And if you want to know what that whirring noise is, it’s mike, Larry and Gary turning in their graves. Glad they aren’t around to see this
Do you think the shareholders would be happy to know how much millions Blake wasted upgrading the Aberdeen facility only to bring out the gimp and get him to shaft Aberdeen making all the money spent a complete waste?
Very interesting news. MAYBE, it will be good future for DQ employees
Market cap $900m, So you could basically buy the entire company with all their property (buildings as well as intellectual) for around $500m. Someone like OneSubsea or BH could look at it - OneSubsea to get into exploration wellhead market, bh to wipe out their only real competitor in wellhead and pipe. Also to ensure they tie up SeaLion in the x amount of years when that finally happens.