Summit ESP

[heironymouspasparagus]

Well, carp...just when we - meaning Kaiser and Argonaut - get a new company up and running locally with great jobs, great people, and great products, along comes Halliburton trying to screw it up!!   They want to buy Summit ESP since they couldn't get Baker Hughes!   Come on, George!  Do Tulsa better than that!  At least give the employees an opportunity to do a buyout!!

Let Halliburton go back and get Novomet !!  That is more fitting their style.

That will lose all those jobs for this area, plus much of the support structure locally to Summit.  People will be moved or lose their jobs.  And Tulsa loses out once more.

https://www.yahoo.com/finance/news/exclusive-halliburton-talks-buy-billionaire-kaisers-equipment-firm-100456525--sector.html

[Breadburner]

What are you yammering about....

[cannon_fodder]

What are you yammering about....

Do you click the little blue highlighted thing?  It pretty explains what his concern is.

Hope either the sale falls through or the value is seen in keeping the company here.  My gut tells me Tulsa is far better off with a local company than more Houston overlords. But... the company was started to make money, if someone step up and provides a profitable exit its hard to be mad at owners for cashing out.

[dbacksfan 2.0]

I'm sure George is just making a profit to cover the outlay for The Gathering Place. He may be a philanthropist, but he is a business man as well looking to make a profit on other investments.

[heironymouspasparagus]

What are you yammering about....

You wouldn't understand.... Sit down and color...!

[heironymouspasparagus]

Now that Breadhead is occupied coloring, for everyone else - Yeah, I hope this deal falls through.  A very good solution - the best solution - would be for George to make a deal with employees for a leveraged buyout.  This would raise his "good guy" image in my view, which is already pretty high, to astronomic levels!!  This is a wonderful opportunity for a "best of both worlds" scenario - Argonaut gets to score big time and Tulsa gets to keep a really great company in place.

[Conan71]

So why are we making the automatic assumption that Summit would be moved out of Tulsa? 

Haliburton owns many units throughout the world, they are not all concentrated in Houston, Duncan, or Lake Charles.  This isn't like they are buying a call center or accounting center where staffing is ubiquitous.  Tulsa is a major fabrication hub for oil field infrastructure and our cost of living assures fairly cheap labor compared to Houston or elsewhere.  They've got a very nice operation in west Tulsa and they've done a nice re-fit of the old Zebco plant on W. 41st St as well as expanding to other properties which had been sitting fallow for some time.

If anything, Haliburton's money and management may be a good fit for Tulsa.

[dbacksfan 2.0]

So why are we making the automatic assumption that Summit would be moved out of Tulsa?  

Haliburton owns many units throughout the world, they are not all concentrated in Houston, Duncan, or Lake Charles.  This isn't like they are buying a call center or accounting center where staffing is ubiquitous.  Tulsa is a major fabrication hub for oil field infrastructure and our cost of living assures fairly cheap labor compared to Houston or elsewhere.  They've got a very nice operation in west Tulsa and they've done a nice re-fit of the old Zebco plant on W. 41st St as well as expanding to other properties which had been sitting fallow for some time.

If anything, Haliburton's money and management may be a good fit for Tulsa.

Ah, but Conan you are uttering one of those evil/foul/vile words in Oklahoma, Haliburton, which of course is attached to some other of those words Cheney and Bush. You might as well suggest that the Koch Brothers are involved for the trifecta.  

[heironymouspasparagus]

So why are we making the automatic assumption that Summit would be moved out of Tulsa? 

Haliburton owns many units throughout the world, they are not all concentrated in Houston, Duncan, or Lake Charles.  This isn't like they are buying a call center or accounting center where staffing is ubiquitous.  Tulsa is a major fabrication hub for oil field infrastructure and our cost of living assures fairly cheap labor compared to Houston or elsewhere.  They've got a very nice operation in west Tulsa and they've done a nice re-fit of the old Zebco plant on W. 41st St as well as expanding to other properties which had been sitting fallow for some time.

If anything, Haliburton's money and management may be a good fit for Tulsa.

Might not happen...they would actually be foolish to move from here.  Past events in the industry show the smart thing is not always done though.  Couple of smaller pump companies have been moved from their original locations over to OKC and were gathered together under GE Oil and Gas - not completely out of state, but pretty much....OKC doesn't really seem like Oklahoma to me...lol.  There is a bucket full of small pump companies around now - so many I can't keep track of them all.  And Halliburton is the only one of the major oil services companies that doesn't have a relatively strong pump presence.  They could just move it to Duncan.  Problem is getting the key pump and motor people to go to Duncan...probably can't make that happen. 

Yeah - Summit from my outside position looks like a great, "classy" company - and I know for a fact that they have some really great people working there.  Would love to get in with them....

Schlumberger - last I heard - had moved major production of REDA pumps out of Bartlesville...I think some, if not most, of it went to China.  I think they still do a little REDA up there, but contacts have mostly dried up so not sure exactly what is going on.  They have/had a really good motor designer who was still up there last year, so at least doing some R&D and development in B.

And Baker Hughes has been threatening to move Centrilift at least since the 90's.  Turns out they can still pay low enough wages out there in Claremore, such that the urge to move has been overcome by the urge to keep cheap labor.  BHI still wants to move it, though.

Haven't heard a peep out of Borets, but there are people movements happening in last couple years that look "suspicious" - like they are trying to get out before some big event happens.  Makes me suspicious of a move.  (Or maybe some resistance starting to build in the world to doing business with the Russian Mafia...?  Probably not the main issue, though.)

[heironymouspasparagus]

Ah, but Conan you are uttering one of those evil/foul/vile words in Oklahoma, Haliburton, which of course is attached to some other of those words Cheney and Bush. You might as well suggest that the Koch Brothers are involved for the trifecta.  

Halliburton, Weatherford, Baker Hughes, Schlumberger.  All about the same based on personal experience, direct observation and testimony of literally dozens of people over many years.    All of them have a lot of good people working at each - I have met many over the years.  It's not just the 'worker-bees' that drive a culture - huge input from on high to set the tone and timbre of an organization.

I have one of those "fantasy portfolios" you can set up on some of the stock trading websites and follow it regularly.  There is an ebb and flow that can be observed and if one is into a little bit of speculative risk, can do some interesting trading in their (and others) stocks!  Never let politics, emotion, or ethics/morals get in the way of making money!!  I have no problem investing in any/all of these and more with the evil/foul/vile intent of making a ton of money!!  If it's good enough to make Cheney a fortune, who am I to argue with success?  I will try to do the same!

Just because Cheney is a low-life, ****-*******, ****-******, dirt-bag doesn't mean I can't learn from him and try to get rich, too!  

[heironymouspasparagus]

Deal went through this morning.  Hope it works well for the Summit people...

They have been kicking a$$ and taking names in the industry!  I know Novomet claims better motor efficiency, but I am betting Summit actually has it!




Also, Introducing Baker Hughes...a GE Company!