It looks like you're using an Ad Blocker.

Please white-list or disable AboveTopSecret.com in your ad-blocking tool.

Thank you.

 

Some features of ATS will be disabled while you continue to use an ad-blocker.

 

Halliburton bought premiere oil-well firefighting co. for 240 mil on April 12th

page: 1
24
<<   2  3  4 >>

log in

join
share:

posted on Apr, 30 2010 @ 06:28 PM
link   
Seen this over at GLP

Dailyfinance

Halliburton Snaps Up Boots & Coots
By TOM TAULLI
Posted 10:30 AM 04/12/10 Investing
Comments: 30Print Text Size A A A
EmailMore
In 1978, Edward "Coots" Matthews and Asger "Boots" Hansen founded Boots & Coots (WEL). Both were veteran oil-well firefighters. In fact, they provided inspiration for a 1968 film called Hellfighters, starring John Wayne.

But the days of independence have come to an end for Boots & Coots as the company has agreed to sell out to Halliburton (HAL) for $240.4 million. Shareholders will get $1.73 in cash and $1.27 in Halliburton stock for every share of Boots & Coots.

The company certainly has a distinguished history. It has been critical in dealing with many well fires, including those from Iraq's 1990 invasion of Kuwait. But given its relatively small size, Boots & Coots has been at a disadvantage. As a result, the stock price has been mostly lackluster over the years.

A Perilous Business

Boots & Coots has two core businesses. First, there is Pressure Control, which involves prevention and risk-control services for oil- and gas-well fires and blowouts. A key to this area was the acquisition of John Wright, which developed sophisticated technologies to measure well integrity.

Next, Boots & Coots has a Well Intervention division, which helps enhance production for oil and gas operators. This business is likely to benefit nicely from the trend toward unconventional resource plays (such as extracting energy from shale). Boots & Coots greatly expanded this division with the acquisitions of Oil States International and StassCo.

Despite all this, the company is still at the whim of volatile energy markets, as well as unpredictable government-owned oil companies. For example, last year Boots & Coots saw a 7% fall in revenues to $195.1 million, with net income down from $21.8 million to $6 million. Keep in mind that during this period, there was nearly a 50% drop in domestic rig counts.

But as part of Halliburton, Boots & Coots will have more leverage to expand its platform, especially in areas like Africa and even Southeast Asia, which should provide significant growth opportunities.

Feeling Left Out?

According to its latest earnings report, Halliburton is upbeat about the prospects for 2010. Actually, it looks like there will be a rebound in North America because of increased demand and rig counts. At the same time, it appears that Halliburton is gaining more market share from its struggling rivals.

But when it comes to M&A, Halliburton has been timid. Just look at Schlumberger (SLB), which recently agreed to shell out $11 billion for Smith International (SII) and $1.07 billion for Geoservices. Of course, there is also the $5.5 billion merger of Baker Hughes (BHI) and BJ Services (BJ).

So, will Halliburton try for a major deal, too? Perhaps. The company has $3.4 billion in the bank and easy access to financing. Yet, the oil services industry has undergone lots of consolidation, and few major targets are left. And a deal could ultimately suffer from antitrust pressure.




[edit on 30-4-2010 by TrainDispatcher]




posted on Apr, 30 2010 @ 06:41 PM
link   
The link says"page not found"
They sure pulled that one fast huh?
So the purchase of an oil cleanup co was made a couple of weeks ago and now there are 2 spills? Pardon my cynicism but is this just coincidence? And this Co is part of Haliburton? Something stinks here.......imo

Thanks for the post


[edit on 30-4-2010 by speculativeoptimist]


CX

posted on Apr, 30 2010 @ 06:53 PM
link   

Originally posted by speculativeoptimist
The link says"page not found"
They sure pulled that one fast huh?
So the purchase of an oil cleanup co was made a couple of weeks ago and now there a are 2 spills? Pardon my cynicism but is this just coincidence? And this Co is part of Haliburton? Something stinks here.......


One spill. The other was an old rig on the way to the scrapyard, no spill.

CX.



posted on Apr, 30 2010 @ 06:56 PM
link   

Originally posted by speculativeoptimist
So the purchase of an oil cleanup co was made a couple of weeks ago and now there a are 2 spills? Pardon my cynicism but is this just coincidence? And this Co is part of Haliburton? Something stinks here.......


a very interesting piece of the puzzle
is missing. Guess who had just finished
repairs to the oil rig just 20 hrs before
it exploded????

Haliburton !!!!

This is no coincidence.

Buy the company to fix oil spills
and then create one to make billions !!!


Oil services contractor Halliburton Inc. said in a
statement Friday that workers had finished cementing
the well's pipes 20 hours before the rig went up in flames.
Halliburton is named as a defendant in most of the more
than two dozen lawsuits filed by Gulf Coast people and
businesses claiming the oil spill could ruin them financially.


news.yahoo.com...

coincidence ???
I think not !!!

Does this remind you of anything else??

an insurance policy on the WTC just 6 weeks
before 3 buildings fell ???

Buying an oil spill company just 3 weeks
before the biggest oil spill in history???



[edit on 30-4-2010 by boondock-saint]



posted on Apr, 30 2010 @ 06:56 PM
link   
I must have screwed something up with posting that link.
I have fixed it. Thanks



posted on Apr, 30 2010 @ 06:58 PM
link   
Would this be considered a
terrorist act by Haliburton ???



posted on Apr, 30 2010 @ 07:01 PM
link   

Originally posted by boondock-saint
Would this be considered a
terrorist act by Haliburton ???


For this to have been done by Haliburton wouldn't Cheney have to be involved and how exactly does this benefit all of Bush's oil cronies? I mean that WAS the narrative for 8 years so which is it?

I think maybe now its clear that Haliburton will work for whoever is in power, or perhaps it is the other way around and it had nothing to do with Cheney pocketing massive amounts of cash to distribute to the oil executives?

Just saying...



posted on Apr, 30 2010 @ 07:02 PM
link   
No coincidence. Makes perfect sense!!!

HALLIBURTON.




posted on Apr, 30 2010 @ 07:02 PM
link   
I mentioned this exact thing in another post here, about the oil spill cleanup..one potential reason in my theory was, to make money* this is how it all works today. those fishermen will never see money coming to them, unless they worked for halliburton.



posted on Apr, 30 2010 @ 07:05 PM
link   
wow.. what a coincidence!

www.reuters.com...

The link above talks about the deal between halliburton and (LOL) BOOTS & COOTS.. what a name.

www.businessweek.com...

Link above talks about boots & coots sued over restricted stock grants or something.. I am not into financial stuff at all and don't care. Date was yesterday that people were sueing BOOTERS & COOTERS.

Very fishy indeed. Cheney, where art thou?



posted on Apr, 30 2010 @ 07:11 PM
link   
reply to post by ararisq
 


I believe there is more than enough evidence
to consider this a terrorist act.

Halliburton has ties they cannot dispute this time.

MOTIVE:

If Obama gets oil from Gulf and takes troops
out of Iraq and Afgh, then Halliburton stands
to lose Billions in oil profits in that region. The
only way to keep us in the Middle East is to
destroy our own resources of oil. Thats motive !!!

You have Motive and Opportunity all based around
Haliburton!!!

And remember, 9/11 was the reason why we
invaded Iraq and Afgh to begin with.
See how it all ties together???



posted on Apr, 30 2010 @ 07:12 PM
link   
reply to post by CX
 


Thanks CX
maybe I should refrain and say 2 "incidences" occurred
Admittedly, I should pull back on my own reins here, I am ready to run with the conspiratorial worse case scenario and I should refrain from doing so until examining more info. I just get wigged out when I hear the words tragedy, Cheney and Haliburton all in the same sentence.


[edit on 30-4-2010 by speculativeoptimist]



posted on Apr, 30 2010 @ 07:20 PM
link   
If I were Obama right now
I would set up a task force
to investigate Halliburton's ties
with this incident. And maybe,
just maybe ....
it might unravel enough strings
that 9/11 can be solved at the
same time!!!



posted on Apr, 30 2010 @ 07:25 PM
link   

Originally posted by ararisq
For this to have been done by Haliburton wouldn't Cheney have to be involved and how exactly does this benefit all of Bush's oil cronies? I mean that WAS the narrative for 8 years so which is it?


I think both 9/11 and the oil rig explosion
are related in scope.

1st event get us in the middle east for the pipeline
construction

2nd event destroys our alt means of producing oil
and keeps us in the middle east.

they are connected.



posted on Apr, 30 2010 @ 07:25 PM
link   

Originally posted by boondock-saint
If I were Obama right now
I would set up a task force
to investigate Halliburton's ties
with this incident. And maybe,
just maybe ....
it might unravel enough strings
that 9/11 can be solved at the
same time!!!




This is shaping up to be another 9/11 type conspiracy possibly. This is too good to be true it seems. WTF is going on here?!?!?!



posted on Apr, 30 2010 @ 07:29 PM
link   
Halliburton Inc. says it finished a cementing operation 20 hours before a Gulf of Mexico rig went up in flames

Although no cause has been determined, oil services contractor Halliburton Inc. says it finished a cementing operation 20 hours before a Gulf of Mexico rig went up in flames.

Halliburton is named as a defendant in most of the more than two dozen lawsuits filed by Gulf Coast people and businesses claiming the oil spill could ruin them financially. In one lawsuit, two Louisiana shrimpers claim cementing contributed to the explosion.

Halliburton said Friday it had four workers stationed on the rig, performing several tasks, including cementing — a process of applying cement and water to a pipe used to prevent the wall of the hole from caving in during drilling.

According to a 2007 study by Minerals Management Service, cementing was a factor 18 of 39 rig blowouts in the gulf between 1992 and 2006.


SFGATE.com



posted on Apr, 30 2010 @ 07:37 PM
link   
reply to post by boondock-saint
 


Well, with Rush already blaming enviromentalists, your theory is the explanation I'm going to embrace. Corporate greed makes much more sense than hippies causing oil spills.

[edit on 30-4-2010 by 23refugee]



posted on Apr, 30 2010 @ 07:43 PM
link   
This doesn't surprise me, at least I hope they will put those wells still burning in Iraq out, there was a topic here a week or so back about it.



posted on Apr, 30 2010 @ 07:44 PM
link   
reply to post by boondock-saint
 


How the hell are they going to make billions when they are going to be sued by more than two dozen people and companies?

From your source:


Halliburton is named as a defendant in most of the more than two dozen lawsuits filed by Gulf Coast people and businesses claiming the oil spill could ruin them financially. Without elaborating, one lawsuit filed by an injured technician on the rig claims that Halliburton improperly performed its job in cementing the well, "increasing the pressure at the well and contributing to the fire, explosion and resulting oil spill."


Seriously, people need to learn how to read.



posted on Apr, 30 2010 @ 07:47 PM
link   

Originally posted by Chadwickus
reply to post by boondock-saint
 


How the hell are they going to make billions when they are going to be sued by more than two dozen people and companies?

From your source:


Halliburton is named as a defendant in most of the more than two dozen lawsuits filed by Gulf Coast people and businesses claiming the oil spill could ruin them financially. Without elaborating, one lawsuit filed by an injured technician on the rig claims that Halliburton improperly performed its job in cementing the well, "increasing the pressure at the well and contributing to the fire, explosion and resulting oil spill."


Seriously, people need to learn how to read.


Because they just bought a Oil Cleaning Company for $240 MILLION CASH a few weeks ago.



new topics

top topics



 
24
<<   2  3  4 >>

log in

join