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SLB - Merger Of 2 Troubled Companies Does Not Equal Good News
Schlumberger N.V.
KLX Energy Services (KLXE) and Quintana Energy Services (QES) announced a merger on Sunday. While merging makes some strategic sense, it doesn't change the central underlying problem that these businesses lose money in a shrinking industry. Even though merging will save the combined businesses some overhead, for the reasons described below I don't believe the new, combined business will earn money and I would be interested in shorting the stock under certain circumstances.
1. Industry Headwinds cast a shadow over the merger