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Truck nutz off - Oil’s Biggest Rigs Head to the Junkyard
Posted on 10/18/17 at 11:09 am
Posted on 10/18/17 at 11:09 am
quote:
Transocean Ltd. is finally sending Pathfinder to its grave, after two years in a Caribbean purgatory that cost about $15,000 a day.
The move by the world’s biggest offshore-rig operator signals just how bleak the future looks for deepwater drilling. Pathfinder is the most famous of six floating rigs the company is scrapping in burials that will add up to a bruising $1.4 billion write-off. Competitors are going the same route, jettisoning more rigs in the third quarter than have ever been trashed in a 90-day stretch, according to Heikkinen Energy Advisors analyst David Smith.
That’s how bad it is, with predictions crude prices won’t go much higher than $60 a barrel in the next year compared with around $50 recently. “Deepwater is going to be playing a much-reduced role on the global oil-supply stage relative to what the industry expected as recently as three years ago,” said Thomas Curran, an analyst at FBR Capital Markets in New York.
Bloomberg
Posted on 10/18/17 at 11:10 am to The Mick
quote:
Dey frackin baw
Not around here
Posted on 10/18/17 at 11:16 am to DaBike
The gulf is dead/dying.
Way too expensive to produce compared to onshore assets, especially given current oil prices.
Way too expensive to produce compared to onshore assets, especially given current oil prices.
Posted on 10/18/17 at 11:26 am to CptRusty
I just hope they leave a few floaters off Louisiana gulf coast.
Need my fishing spots
Need my fishing spots
Posted on 10/18/17 at 11:37 am to DaBike
With some of current infrastructure in place, onshore is much easier
Posted on 10/18/17 at 11:38 am to DaBike
How are all the 10th grade drop outs posed to support their families now?
Posted on 10/18/17 at 11:41 am to DaBike
How am I supposed to pay the note on my 70k vehicle that I financed at 9% interest? This is Obama's fault.
Posted on 10/18/17 at 11:42 am to DaBike
Is there anyone who didn't see this coming?
Posted on 10/18/17 at 11:43 am to DaBike
Them baws better start learning how to work a computer.
Posted on 10/18/17 at 11:45 am to DaBike
frick me. I need to get out of industrial supply
Posted on 10/18/17 at 11:46 am to DaBike
Who needs college, you can go find an erl job!
Posted on 10/18/17 at 11:48 am to TDcline
TDcline must have been bullied recently in his smart car :)
Posted on 10/18/17 at 11:50 am to Goldwitapurplesack
No but I fricked your wife in a smart car while you were out on your last hitch, baw.
Tell her thanks for the sex.
Tell her thanks for the sex.
Posted on 10/18/17 at 11:51 am to TDcline
quote:
by TDcline How are all the 10th grade drop outs posed to support their families now?
Police departments all over the country are looking for applicants
Posted on 10/18/17 at 11:52 am to TDcline
quote:
No but I fricked your wife in a smart car while you were out on your last hitch, baw.
Tell her thanks for the sex.
GOT DAYUMMMMM
Posted on 10/18/17 at 11:54 am to Goldwitapurplesack
All you guys talking shite about the oilfield and the people who work in it.... do you not realize Louisiana and every business in it lives and dies off of the oilfield industry . College ain't gonna matter jack if the oilfield is dead . The company you work for is gonna be suffering just like everyone else . So you're screwed just like the rest of us , come on down off of that high horse fellas cause we are all in the same boat lol
Posted on 10/18/17 at 11:56 am to Goldwitapurplesack
Salty huh buddy ?
Posted on 10/18/17 at 11:58 am to DaBike
So how the hell do they figure I'm gonna pay for my wife's BMW, my F250 and this big arse gigantic DR Horton house in G-Town I bought for $380,000 with no money down?!
HOW AM I SUPPOSED TO AFFORD MORE SALT LIFE AND YETI STICKERS?!
HOW AM I SUPPOSED TO AFFORD MORE SALT LIFE AND YETI STICKERS?!
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