When, did you become the Grand Puba of the message board, was there an election I missed or something. You better go watch reruns of Seinfeld, remember the episode where George Costanza does everything backwards, because he such a screw up he thinks that will make everything come out right. Thats who you are the " George Costanza " of the message board.
That because Tom I was shorting SDRL before you were on the board, thats why I find you amusing, or I should say your predetermination of what I'm thinking as amusing. By the way go look up Sanchez Energy, and average well costs in the Cantarina, might just shock you and other others on the board as to how fast cost are decreasing with the on shore frackers.
I'm with you on debt, thats why I've started a postion in NE as to SDRL. Either way, this will not resolve quickly, even with oil at 70 it will be tough on deep water drillers.
The good news is that the agreement isn't officially dead. The bad news, though, is that in the short term, North Atlantic will effectively lose four additional rig contracts. By September 2015, it will likely find itself with just three of its eight rigs employed, and potentially having to cold-stack -- put into storage at a cost of $110,000-$120,000 per day in maintenance fees -- five ultra deep-water or UDW rigs.
Exxon Mobil Corp. Chief Executive Officer Rex Tillerson said the industry should expect low prices to stick around for the next few years.
"People need to settle in for us to be in a different price environment for the next couple of years and then we'll see where it goes," Tillerson said in a speech at the IHS CERAWeek conference in Houston Tuesday.
Like you have better info,,,be serious !
You remind me of a guy I use to know, the job would be falling apart around him and he would say will make it up on the next job. Guess what, sometimes it is as bad as it seems. If oil gets back above 75 for a sustained period SDRL will manage. But there are others factors a foot, the Drill market will be saturated with new builds as drilling grinds down, the will last min. 1 year.
Slorer suspended coverage on North Atlantic Drilling Ltd. (NYSE: NADL), saying its ability to remain in operation is in some doubt, despite continued support from parent company Seadrill Ltd (NYSE: SDRL).
Not true, I've stated that I think SDRL has bottomed. I just don't see any real catalyst in 2015 and now maybe 2016. Remember this bull market willnot last forever.