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Started By
Message
re: Oil Field Rumblings
Posted on 11/10/16 at 4:06 pm to TigerFred
Posted on 11/10/16 at 4:06 pm to TigerFred
quote:
The fact is the majors are cash poor right now and are all trying to figure out how to reduce their production costs before Spending anything on capital projects.
Depends who you define as majors. Shell just invested over 100 million in the pipeline alone for one deep water project set to complete construction in early 2018. Hess will be completing a deep water rig early 2017 with their second on the way. Chevron has one with the pipeline getting the insulation as we speak. Shell has a second 100 million dollar rig in R&D.
Now, companies like Kinder Morgan and Exxon are a snails crawl.
2
Posted on 11/10/16 at 4:19 pm to ibleedprplngld
Everyone of those projects started years ago.
Shell has put the breaks one project for next year and another originally scheduled for 2018.
The two Hess projects started many years ago and the Chevron Bigfoot project is about five years behind schedule.
A 100 million dollar rig must be really small. Hell a small Jack Up Drilling Rig will cost more than 300 million now to build.
Shell has put the breaks one project for next year and another originally scheduled for 2018.
The two Hess projects started many years ago and the Chevron Bigfoot project is about five years behind schedule.
A 100 million dollar rig must be really small. Hell a small Jack Up Drilling Rig will cost more than 300 million now to build.
Posted on 11/10/16 at 4:40 pm to ibleedprplngld
quote:
Hess will be completing a deep water rig early 2017
Working on this one now.... should float out in the spring. Has really been a good project. Hess will probably cut a fat hog in the arse once they start producing. Looks like they times the project just about perfect.
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