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5 replies (most recent on top)
I know for a FACT that Cameron IS trying to take on projects with risk and tiny margins. The main goal right now is to fill up shops with work so we don't have to layoff and just keep good people working.
Things eventually will pick up. It may get worse before it gets better, but Cameron is not the bad guy in this situation. Business is business.
Plus, it costs thousands of dollars to bring on new hires and train them up. It's a no win situation for everyone unfortunately.
Anonymous131762, operators aren't going to buy equipment to drill wells if they've cancelled projects, no matter the discount. They aren't going to tie capital up in inventory that in itself is costly as it relates to storage and maintenance. Not to mention the risk of obsolescence. Furthermore, each well drilled is unique in characteristics and therefore the majority of the equipment ordered has variability in specifications. Not just BOP's but all equipment. i.e. centralizers, float equipment, liner hangers, etc. So my point is operators, in today's market, don't have a clue when or what projects they are going to plan for until they feel they can do so and make a profit.
Heard from a friend at a major oil company that the new projects are all on hold and they are not going to be buying anything. If they don't buy stuff we get laid off. This is freakin bad. Why don't we drop out price to get orders to keep people working?
Just wait for few more weeks, real or spam we all know
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