I had a job offer from SLB that was pushed and pushed. Then I hear that Frac is gone. Is it really worth staying and hoping to get into a more stable company after the restructure or just jump ship now into the unknown?
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Jump now. Schluberty will not need you. Time to take Internet 101 again.
I'm guessing you got an offer as. Field Engineer Trainee, or something similar. I would highly encourage you to look elsewhere. The SLB name has clout in the industry and nowhere else. SLB is known for training people for other companies (meaning they jump ship after 2 or 3 years). If you don't mind having no life for those 2-3 years while you get that training... take your chances. You will very quickly learn that the 3 SLB values of People, Technology and Profits is a joke. The People value should have an asterisk beside it. People are out most expendable asset!!!! You will eventually see your coworkers and perhaps yourself get tossed aside in order to preserve certain bonuses for those who work in the glass palaces. If you were offered a glass palaces job, there may be hope. But if you were offered FET or any other field role, you will be shat upon when there's any blip in the market. I also personally think that other legacy Well Services businesses will be spun off like Onestim. I'm specifically talking Cement... and possible other "field" services. I think the company is going to focus on technology and finding the resources, and gradually exit the service company side of the business. Oilfield service requires too many real assets/overhead and too many people.
Get the hell out. Stop holding on to hope that something good will happen if you stay.
If Camerons was A waste of Money Then Why was They Thriving Way Before Scumbucket Bought Them . After They Bought Camerons They Dragged Them Down to Nothing And now They Want to Blame camerons For There Losses I Wouldnt Piss On Schlumberger If It was On Fire
Barrons: Sept 7 2020-page 11-12:00pm
Fracking’s Decade of Growth Ends as Schlumberger Exits
go work for Liberty, they are already everything OneStim frac wanted to be but wasn't aloud to become, held backby a few very poor middle grade VPs who couldn't lead or decide. Liberty has all threee people, technology, and profits - ask the Street, ask the customer
Ask yourself “am I better off leaving now, or being forced to leave When the next downcycle comes in 7 years and again 7 years after”
If you just need to bide time till the next cycle - stay; otherwise, plenty of white collar jobs in the market now, with better pay
Good luck
It depends on what you will be doing.
Beyond COVID, my advice to new engineers (US based) is that you are better off working at an engineering firm, defense contractor etc. Yes you can make more money early on working for SLB in the field, but 10 years later, your pay at an engineering firm will catch up or pass your SLB salary and continue to increase. You will also have a significantly more stable life and valuable skills than with working for SLB.
After Gould, SLB's leadership took a big tumble into checklist-driven, unimaginative, robotic leaders. The business and the choices were superficial without a realistic understanding of the oilfield business. Although Le Peuch does not seem to have the background-on-paper to lead SLB, he seems to be making serious choices about stabilizing the company beyond simple commodity sales. But as stated above, there are a lot of cancers still around. We'll see.
But for now, you may find employment elsewhere a better deal – especially if you have some needed skills or experience. BTW, SLB no longer is the leader for buying skills and experience. They simply buy cheap on the worldwide labor market.
Cameron was the biggest waste of money that SLB ever got caught up in. They are having to dissolve so much of what SLB was to even try and keep something of Cameron that is worth selling.
SLB had some great people. It still has a couple great people up top, but it also has many people that are cancers to the company. In the short and long term, I don't see them doing well. They need to bleed off allot still and find innovation in a market that doesn't require any. Their market space is dead and doesn't need fancy things to sustain. SLB was into the market of selling fancy things, so...
I'd look anywhere else.
Trust me. Jump now.
SLB is not a stable employer. If KPIs go down, in the click of a button, they will release thousands of people without a doubt. Go and check glassdoor for other companies. In the end, would you rather have a slightly higher salary and risk getting released in a matter of 2 weeks, or do you prefer en ok salary and have more stability.
Company is stabilizing, but by getting rid of the failure businesses. Soon all that will be let is MI Swaco and Cameron.
"Woe" is me. And if you haven't started, or perhaps even if you have, I highly recommend looking elsewhere if you are looking for something that offers stability.
woe
Offshore.