Keke, that's my point. OIBU is closed and contracts redistribute to other regions. Strikes me as a 'batten down the hatches' move for the time being. Some office staff will have been re-assigned or let go.
The plethora of GE people at BRS (their board has a few of them) and now their man at CHC is a very interesting development.
Between CHC and BRS they have revenue of around $3.5bn but varying strengths in key geographies (CHC relatively strong in North Sea but no operation in GoM for example although there are many others). Would it survive a merger or would the US authorities cite it as anti competitive?
Personally I don't think a merger is out of the qn. If CHC's new man at the helm could persuade the BRS board (his old chums) to pay more than CD&R put in, at one swoop you have a titan in the industry and CHC solve the idle fleet issue while BRS get more fleet that they noted in their results they need. Win win potentially.
Once Babcock get their teeth into expanding Avincis (Bond et al), 2 huge players can go to war with the regional players.
Just my thoughts of course.