SR feeling sorry for UK employees, but not a word about Legacy employees being laid off right before Christmas, forfeiting the LTI that cashes out few days later, and with a very lame severance package.
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Not enough “landing zones” for JC.
Thank goodness our public relations and regulatory people were on top of this..... oh wait, I forgot. We are stupid now.
8 platforms… 50 +. subsea wells, cash upfront ……. ouch
SR’s explanation of how to pay the abandonment cost of $2 billion only makes matters worse. You don’t pay vendors with the balance sheet and how “we report it.” Where will the cash come from is what worries investors.
This is really sad for all the families affected in Aberdeen, probably other companies heading in that direction too.
Bye bye
They’re in trouble. If they quit spending/drilling/etc it accelerates the abandonment timeframe/expense that mgmt doesn’t want to acknowledge
Cessation
Of
Production
End of field life.
Wasn’t this discussed last year with a project going on? Haven’t heard anything sense.
What’s COP?