This is brilliant news for Decom.
13 replies (most recent on top)
Obviously zero understanding of how decom works as need oil companies to be making money to decom a rig,
Baker supply a tiny part of decommissioning a rig.
You need rig crews that are all getting paid off just now , platform crews getting paid off, standby vessels non are working as too expensive
, boats and alot of money to decom a rig.
Oil companies will not risk spending money doing this just now as already losing too much and no money to be made for them in decom.
most of these rigs have been putting it on hold for 10 years plus as costs so much now they will happily wait 10 more as the oil companies wont risk bankruptcies to decom you utter fools.
They are all unprofitable platforms dumbarse. Great Strategy to ride out the hard times by permanently eliminating customers and business. Only an id–t would think that a good plan.
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Senior Baker management in Aberdeen foresaw this would happen several years ago and hence built up the Decom business as a hedge against a falling oil price which would allow Aberdeen office to ride out any storm.
Decom will be busier than ever with operators sc-apping more unprofitable platforms due to the crisis.
Great strategic foresight that puts the Aberdeen in a superb position. Well done
Sorry spoke too soon....It's now 1.43...Negative 1.43...
Now less than $1... Just saw it hit .70
No services company was making money at 25.
I don’t know. Can those operators even afford to decom? Maybe they will just desperately try to hang on. I’m sure on land mom and pops will just shoot some cement down hole and undercut anything the big 3 would offer. That’s what happened last time in North Dakota.
No more at fault than Clinton was in ‘99.
I got laid off in 1999 @$9, so it may retreat further.
Brilliant
Well bloody hell it's now $11..................
You wish it was $15. May delivery of WTI trading at $13.10. No worries though the Donald has it all worked out along with Covid - 19 and opening up the US to make it great again................................