Ok, its downturn, you can buy oilfield services companies for cheap. But what for? There is no activity and oil price will soon be below $30. Its better to sit on cash rather than going into debt. There could be another 2-3 years of low prices.
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Not entirely but very high percentage. SLB does not value skills of individuals of the company being bought. It has always been that way.
When Schlumberger buys companies, do they lay off any from the newly purchased company and replace them with WL people?
It will be up a little in 2017 (business) because companies have no choice but to service their wells. Oil price? Probably not.
http://www.houstonpress.com/news/schlumberger-announces-merger-with-houston-based-cameron-international-corp-7704162
I though Paal said oil would be back up in 2017?
Because they can buy for pennies on the dollar right now. This is the perfect time to buy. It's the worst time to be bought.