With crude prices headed for goodness knows where, and operators wading into progressively deeper water in search of new discoveries, Houston-based Halliburton
Halliburton, the second-largest factor in the services sector behind Schlumberger
At this point, it's impossible to know whether the trio will attempt to top Halliburton's offer. Either way, however, my betting is that, given the determination of Halliburton's CEO Dave Lesar to expand and diversify his company and its capabilities, Halliburton will ultimately emerge victorious in its quest for Expro.
While not long ago, offshore drilling to just a few hundred feet was the norm for exploration and production companies, new discoveries are occurring in depths to several thousand feet more and more frequently. Further, deepwater drillers Transocean
Given these trends, the addition of Expro would be an important arrow in Halliburton's capabilities quiver. Lesar has made a number of other moves in the past couple of years that I believe have benefited the company materially. I suggest that you carefully watch Halliburton and its progress toward acquiring Expro. What better combination than a well-managed company that just happens to be operating in what is a front-and-center sector?
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