Maybe this will help slow any potential layoffs in the next few years. Thoughts?
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Probably will come on too late, over budget and underperform. Like Appomattox .....
Total was non-opp of North Platte (now Sparta). Cobalt made the discovery in 2012
Probably not:
https://www.reuters.com/business/energy/shell-extends-job-cuts-ceo-seeks-trim-costs-bloomberg-news-2023-12-21/
It still blows my mind that Total made the discovery, undertook an extensive appraisal campaign, and then just walked away from it. And then we step in for basically nothing, drill one appraisal well, and bo-m - announce FID.
But to answer OP's question, it won't prevent layoffs in the GOM but it would certainly be a worse situation without Sparta. There are a TON of people working on that asset now.
The honeymoon won't last due to poor management. People are good at selling the perception that they are so busy. In return, we over hire just to layoff in a few years. Maybe that's just Canada, 1 rig going for the last 10 years and everyone is so busy.
Gulf of Mexico
What is it?
Let's see if it actually makes any money.