Recession finally catches up to oil sector; Schlumberger, Halli...

[fenster]

mamamowbear wrote:

It was a very trying week last week as I was trying to cope with the lose of my job with schlumberger, as they would not tell me how they picked me to be let go, when I had the most senority, and have never been written up as some of the other gals have. I also have to say that 2 weeks pay is a crappy severence package as I have bills to pay and can not find a job either.

perhaps, it was because you can not spell,eh?

[Halliburton in Houston]

Halliburton began to cut positions last week in HOUSTON, approx 500 middle management pay grades axed due to poor economic environment. Cuts are still continuing this week. This effectively reduced their overall experience level in the company as many of the staff had been with the firm over 10yrs certainly not positioning for any future growth.

Again short sited reaction and will perhaps bite them back later.

Concerned Employee wrote:

Where was this information obtained?
"Halliburton Co. also said it would begin laying off workers but didn't say how many or when."

[clint ratcliff]

Halliburton in Houston wrote:

Halliburton began to cut positions last week in HOUSTON, approx 500 middle management pay grades axed due to poor economic environment. Cuts are still continuing this week. This effectively reduced their overall experience level in the company as many of the staff had been with the firm over 10yrs certainly not positioning for any future growth.
Again short sited reaction and will perhaps bite them back later.
<quoted text>

They should have cut from top first! Young guys with 7 to 10 years don't make nothing per hour that are willing to do bust as work they let go.They keep guys with 25 to 35 years that are ready to retire but are just riding halliburton time clock they keep.It took 6 months to get on with halliburton and took only 6 minutes to get laid off,still waiting for call to go back to work so as the old farts retire!

[Robert]

Schlumberger is not an honest service company. Entire Industry is making fun their bribing stories. If there are a co author from an independent or a major oil company on the article, then everybody knows that co author bribed by Schlumberger to get a project from his/her company. This is going on stories. Therefore nobody wants to become co author and published paper with them, other wise their name appeared on bribed list.

[Clint]

Well Dog55...you were wrong...the Oil Boom in North Dakota is still going strong...in fact full blast. Not busting like you said was in 2009. It is now 2011 and there are no signs of it slowing down. I'm guessing you are probably still up in Williston? The house I built in 2008 for 120,000 sold for 200,000. And I have since built another.

[Boom Boom Booming]

Well, It nearly 3 1/2 years later, and the boom in North Dakota is still going strong. Dog55...$200,000 dollar houses are NOT selling for $70,000. They are selling for $300,000 IF you can even find one to buy.

[ND ghost town]

Sell oil to target $30 bbl

[Brett B]

Hmmmm...so houses in Williston will soon be selling for $70,000 (as was suggested 4 years ago) Could someone tell me where to find them? It is now 4 years later since the boom started, and it hasn't slowed down any. New Houses are still going for 250,000 to 400,000.

[Mike]

Well, it is now 2013 and the prices in Williston are still NOT selling for $70,000. Still in that $200,00 to $500,000 range. Wish they would come down in price!