---------- Forwarded message ----------
From: <Rosegojda@aol.com>
Date: Sat, Jun 5, 2010 at 6:12 PM
Subject: [MedicalConspiracies] Halliburton Snaps Up The major oil rig disaster firm BEFORE the Horizon fire
To:
![Boots & Coots has agreed to sell out to Halliburton for $240.4 million.]()
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.
In other words, Halliburton may focus its dealmaking on small companies that fill out niches, like Boots & Coots. --
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From: <Rosegojda@aol.com>
Date: Sat, Jun 5, 2010 at 6:12 PM
Subject: [MedicalConspiracies] Halliburton Snaps Up The major oil rig disaster firm BEFORE the Horizon fire
To:
Mmmm.....the plot thickens as the oil sludge laps and slaps up against irreplaceable wetlands, spawning areas, rookeries, and estuaries of the once bountiful and beautiful gulf -
We already have odd mergers, pre-fire Wallstreet banksters sell off's and selling short on gulf oil , mysterious boardroom changes and execs jumping ship at Transocean PRIOR to the fire, a rig insured for almost double its value = Transocean's move to Switzerland to avoid taxes and record keeping, a third world country flagged submersible rig, a $1 Billion record dividend announced by Transocean AFTER the fire, BP is spending less the 1 % of its daily revenue on the emergency and clean up; hidden data and video records of the fire and after math of multiple explosion events as yet unreleased - a second platform collapse NOT being reported... the use of an extremely toxic dispersant produced/controlled by BP itself - the Navy refusal to show the sonar and video images of the massive oil blobs shifting at 2-3000 feet churning and rolling along like a toxic bulldozer - at least three massive blobs - one headed for La one toward Mexico and one toward and around Florida - an unannounced inspection and HSD drill on the rig immediately prior to the fire; the seclusion of the rig survivors ...
and now, we see Halliburton had just recently bought the premier industry disaster specialists - thus eliminating any outside scrutiny or options ...
something smells like rotten fish down below the bayou......
Peace, Hugs, and Purrs,
Carolyn Rose Goyda
Missouri, USA
rosegojda@aol.com
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.
In other words, Halliburton may focus its dealmaking on small companies that fill out niches, like Boots & Coots.
To subscribe: MedicalConspiracies-subscribe@googlegroups.com
DETOX WITH All NATURAL PURE GREEN CALCIUM BENTONITE CLAY USED INTERNAL/EXTERNAL http://clayadvantage.com/
Information here in is for educational purpose only; it may be news related, purely
speculation or SOMEONE'S OPINION. Consult with a qualified MD before deciding on any course of treatment, especially for serious or life-threatening illnesses.
By becoming a member of this group you AGREE to hold this group its members, list owners, moderators and affiliates harmless of any liability for any direct, or indirect consequential, incidental, damage incurred.
http://www.law.cornell.edu/uscode/17/107.shtml
In accordance with Title 17 U.S.C. Section 107,
**COPYRIGHT NOTICE
--
Palash Biswas
Pl Read:
http://nandigramunited-banga.blogspot.com/
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