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re: Oil prices and stock market
Posted on 12/13/14 at 10:41 pm to glassman
Posted on 12/13/14 at 10:41 pm to glassman
The drilling contractors are saying this will be a 2 year lull in drilling. A lot of rigs going off contract or unable to get a new one.
I am gonna wait until the summer to see where things stand. I don't think some contractors will make it out of this one alive. Most are in debt more than ever and still building new rigs without contracts.
I know I am not an investor expert but I have worked in the industry for almost 25 yrs. There will be some great opportunities to buy drilling contractors stock.
I am leery of buying small producers because there will be several that get bought out. All the big names will do fine and they have the money to cherry pick these fields.
This will be a great opportunity to make some money!
I am gonna wait until the summer to see where things stand. I don't think some contractors will make it out of this one alive. Most are in debt more than ever and still building new rigs without contracts.
I know I am not an investor expert but I have worked in the industry for almost 25 yrs. There will be some great opportunities to buy drilling contractors stock.
I am leery of buying small producers because there will be several that get bought out. All the big names will do fine and they have the money to cherry pick these fields.
This will be a great opportunity to make some money!
1
Posted on 12/14/14 at 2:52 pm to offshoretrash
So as someone who works in the industry, who do you like/expect to survive in the downturn? Care to speculate on it? I'm long oil in general in several ways, and got into SDRL a month or two ago. Bought again last week and expect it to go under 10 where I will buy more.
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