Commander, Hi.
Halliburton is weak in my opinion. They have steadily been losing market share to BJ, BHI, and Schlumberger competition.
The Directional Drilling, wireline logging, mudlogging services - all necessary during the drilling phase - have dried up, been spun off, or have had damaging performance problems in the field (from what I've heard, that is, all anecdotal with a few first/second hand exceptions). Too bad - I've used all of HAL's services in the past 5-10 years ago, and they were top notch then. But keeping up with today's R&D technology drive is very difficult. Of course, in cementing / stimulation services, they're still great.
My guess is that HAL, in it's already-announced restructuring, will come full circle and focus on becoming the premier cementing / well servicing (frac jobs and stimulations) company, getting back to its pumping roots, and let the other drilling services slip away. My guess is that they'll sell Sperry Directional Drilling services or spin it off. I'd like to see Smith International pick it up.
Just my two cents. I used to own HAL but no longer do.
On another front: Been out tendering for drilling services for next year, Q2-Q3. Interesting responses. One looks at the corporate organograms from these guys and you see the same people filling multiple posts (talk about lack of trained personnel!)In one, the General manager for the country is also the drilling fluids co-ordinator! In another, a kid fresh out of Class of '99, with zero experience and only a 6-month training course on his resume, is characterised as a "MWD specialist".
Jesus....they'll be coming to the rig in diapers next.
Best of luck to all in 2001, and thanks for all the good commentary. I'm shivering out Christmas here in the Caribbean, sun shining, birdsong in the air, fragrance of flowers wafting in a gentle ocean breeze...Ahhh....Bundle up, boys.
Regards to all,
Aggie |
