Since the purchase of this segment/group our earnings, service quality and delivery has suffered. We are no longer the company we were prior to. I, for one, look forward to Olivier taking over the reins of SLB and the jettison of product lines and people that do not produce.
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The two Italians are who shut down Ponca. We used to sit in meetings and #1 Italian was praising himself on going to shut down the Italian plant. The Union spanked him pretty good. # 2 laughed at the Italians losing their plant so the two of them could prosper. Now he is back in Saline running the plant and people he sold out trying to line his pockets. We in Houston laughed at those two patting each others backs.
Not sure, but whoever approved of buying Weatherford should be kicked right in the asset.
Seriously, they lined their pockets beyond anything reasonable without creating any value. And you can bet your money they set themselves up for the next heist. Now, what does the herd of sheep do next? Of cause, cheer yet the next non-value adding jet setter. Naturally, one would pick a highly buddied up ecole nationale French man to the rescue; full of himself being a gifted leader and entitled through endless years of distorted BS and never having dealt with two budget cycles in the same position.
Congrats slb! Your future is now so much brighter!
They should have brought in a good comedian to run the ship. At least nobody would complain they didn't have a good laugh here and then.
It all started to go wrong for PK when he closed the Ponca City plant.
The real problem is SLBs institutional dysfunctionality, culture sickness and prioritizing political skills over managerial skills in their management team
Being too expensive compared to competitors, financing bankrupt Latin American oil company’s to buy SLBs expensive services that they never paid for anyway, pipe dream initiatives like the transformation demotivating the personnel, laying off huge swathes of experienced people and not having a competitive offering for the US land market are what killed him.
Smith was number one in US land market share until they were bought by SLB and list their business
If you had managers that prioritized business skills over playing politics upwards to PK then this train wreck could have been stopped but...........the rest is history and PK is paying the price