"lucrative business of logging services"??? Western Atlas, the number 2 player and Halliburton, the number 3 player, both announced that they had LOST money in their logging divisions in North America for the first quarter. Schlumberger does not release segment information but it is doubtful they did much/any better. Increases technology base? of land drilling rigs? And historically, the land drilling rig contractors have gotten a higher multiple than the companies with logging businesses over the past several years so multiple expansion is not really likely. Is it a bad acquisition? Maybe not but don't misunderstand the fundamentals.
awlbidness.....thank you for your comments, oposite views are always welcomed in this board: (1). Schlumberger made their fortunes in the Logging Business. (2). Halliburton is no longer in the Logging Business in Canada. (3). Western Atlas is a distant no.2. (4). and can be competed thru Computalog existing technology agreement with Halliburton. (5), Your data concerns "only" the past 12 months (history) and does not take in to account the current up-turn in oil field fundamentals (oil prices). (6). Worked two decades in Logging Services, and think have an understanding of the topic.
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