SLB does not know how to run mud companies so lets get back to a minority shareholding and let someone who does know how to do that run MISWACO. Rumor is that QMAX will take over the company.
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SLB have destroyed the former number 1 fluid company in the world
They lost market leadership, lost the key people, lost its focus and all thanks to SLB management skills
What a sad tale
If true then QMax is about three years too late. What’s left of M-I today is a smoldering garbage heap compared to its glory days.
How accurate are these rumors? Some say it’s the best thing that could happen to old M-I, others think it’s a whole lot of unsubstantiated gossip!!!
Get rid of SWACO, spin it off, the management and people employed are low skilled and a well site problem. Standards for employees and skills need to improve. Only a reorganization with these goals in mind can fix the problem.
Oil companies want experienced, professional, and "smart" mud engineers at their well site. Unfortunately, SLB/MI mud engineer quality is in decline. Recruiting qualifications have reached a low bar. MI employees are so consumed by filling out RIR's and complying with SLB internal BS, mud engineers are stretched. Need to get back to the basics where the mud engineer serves the well site client, not the mud company office management. Spinning off MI to an independent mud company maybe a good way to get back to basics, serving the customer, oil company operators.
Id say the problem is a lot of knowledge was lot with older people being laid off and retired. Newer people were put into roles that are very disconnected from the end customer, so while they are great workers they are not being guided to what the customer wants or needs.
Too many people in SLB have no idea what our customers want. SLB is horrible with communicating to workers what our customers need.
I know so many workers that really have no idea what SLB even does. Communication and product/service knowledge is the problem in SLB and making the company very inefficient.
But is is something that can be easily fixed from the top down, but so far nothing has improved in several years so obviously the top is not making an effort.
It’s a sick dysfunctional culture in that place
Slb should filter those imaginary industrial engineering amd manager . Too much useless idea, not 2% of those idea make sense. Only The one with good connection can approve and make decision. And most of the time, it end up with new project and no actual result on previous project. Technology company is run like finance consultant firm. On report show we have technology but manager dont have full depth of product. Nice quarter result but we laidoff like crazy. I Think they will eventually get rid of manufacturing and keep pc engineer in house.
this is one of the most out of touch answers in history....... SLB WAS a great Wireline and D&M Company.....and should have stuck to it.
Since 2011 they’ve f---ed a number of high performing acquisitions including MI, Smith, Geoservices and are in the process of f---ing Cameron by endlessly pushing SLB blue people into positions and product lines that they know nothing about BUT are excellent in playing the Big Blue b---s--- Management Game of Powerpoint Half Truths and Lies.....
The truth is in the share price, you can’t hide that behind Powerpoint.
“Fake News....
Truth is SLB a great company in this sector and focus will be proven true and correct through results...which will be so much better than is portrayed or expected”
Anything would be better than the blue sickness and their transformation obsession
Will QMax be any better?
Great comments and insight
We have made a mess of those acquisitions and that’s a pity
The Drilling Group needs to be broken up and sell off the unprofitable parts
So good that the stock has been steadily declining over the last 10 years. Your Ivy League education is letting you down badly but you are an excellent, although rather vapid cheerleader.
Fake News....
Truth is SLB a great company in this sector and focus will be proven true and correct through results...which will be so much better than is portrayed or expected
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MISWACO has lost its market leadership under SLB and shareholder value has been destroyed
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SLB laid off all the key people who made MISWACO successful and related them with career SLB politicians who now how to play the SLB game but can't change the monthly Pnl & Market Share results. Shareholder value has been destroyed
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The SLB strategy of integrated services is a huge failure because it is too expensive and inefficient compared to competitor offerings and further compounded by unpaid debts from NOCs who SLB financed to buy those same overpriced integrated services to justify a failed strategy. Huge loss of shareholder value and gross management incompetency.
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SLB missed out on US shale big time and never saw it coming. An overpriced service offering could never be competitive in US land. Huge loss of shareholder value and a massive strategy blunder
Time to accept the failed strategy and acquisitions don't deliver shareholder value. With hindsight one wonders what they could have done to avoid the above?
What the f is mi ? Is this the company wish manager and share holders we're celebrating joining the big blue and now when this are f---ed want divorce?
We buy companies for market share not for bunch of red necks.
Slb should do whatever is good for share holders.
Double lol. Awesome
LOL. Let go all the good MI managers go. Is anyone surprised an arrogant id--tic bunch of f---s can't run a mud company? double LOL.
Wow - any truth in this?
Really hope so
Sweco most likely to be split off.
Man I hope so. SLB has destroyed MI.