Schlumberger also bought T and T engineering group that specializes in land rig design. This information is coming from a top level source, and was mentioned at a town hall meeting in Norway. This could be good news for everyone in The DS group.
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who is going to built the items? Little Cameron Minions?
And they destroyed Letourneau expertise 12/3. Only worthless Cameron management left.
@ Liars Foal .... You're a dumb ass. Keppel only bought Off Shore products. LeT drilling systems is still with Cameron. We are quoting power systems, Pumps and TD for a big sale mid 2016. Binding letter of intent was signed. SLB is going to take over north and south america land rig drilling. Iran is also going to be a big market too. Check you references before you spout dumb shit.
If you kept up on current events, you would know that Keppel only purchased the part of the historical LeT business that designed and manufactured the offshore jack-up rigs. The rig equipment part of the business is going to remain under the Cameron umbrella. Yahoo Finance, Motley Fool, or even RigZone will confirm this. It is pretty clearly public knowledge, so this likely "isn't all bullshit". The historical Sense and LeT rig equipment businesses have substantial land rig experience, with a big international customer base. It would only make sense that SLB would want to capitalize on that.
Look Up Keppel Am Fels Dumb Ass. They Purchase all of the Letourneau Drill systems. So this is all Bull Shit.
"Ha, who would be that stupid to build that many land rigs? Seriously for what? $20 a barrel oil. Anyone that buys that load of BS is as dumb as a rock. Big dreams on someone's part."
Its called owning the market share. Learn a little bit about business before you make dumb statements. Right now the large companies are buying up the smaller ones. Tech improvements is the aim. The idea is to reduce the cost of drilling. If SLB develops rigs with a reduced drilling cost then all of the stacked rigs in North America and around the world will be replaced. Try a Google search of all of the accusations SLB made in the last year, then you will get a clearer picture of what their business model is. SLB is spending big money in a down market with hopes that when the smoke clears they will a the majority market share in land rig services.
Ha, who would be that stupid to build that many land rigs? Seriously for what? $20 a barrel oil. Anyone that buys that load of BS is as dumb as a rock. Big dreams on someone's part.
I have heard this as well.