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Precision Drilling Corporation Message Board

  • awlbidness awlbidness May 5, 1999 3:30 PM Flag

    Before you throw the party....

    "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.

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    • 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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