| norfolknchance2 wrote: |
| Enjoy the wait......
Better off keeping your money as it will be a slow recovery from this dip |
This is no dip this is a full on bona fide slump. Oil fracking has changed the game completely.
Most new offshore projects require $80 plus a bbl to be worth it most likely $100/bbl
The minute the price goes to $40-$60 out come the frackers, easy cheap and quick to start up. Hello glut and no need to explore offshore.
Yeah sure theres going to be inspection work and decommisioning is going to start kicking off in the next few years, but ultimately the lay of the land is going to be alot more personnel chasing a lot less work. And the law of supply and demand tells us we are going to have to get much more acquainted with the arts of backstabbery, reduced day rate and giving the crewing cretins a good old tongue bath if we want to stay in work.
Personnally if I was you I would stick to the bridge or get out of offshore completely as a way to make a decent living and do something else. Theres a 3 year shake out of the industry to come and unless Vlad Putin decideds to bomb the oil fields of S Arabia in the next few weeks, the offshore career is not going to be stable, lucrative or pleasant in the immediate future, except for a few lucky and/or connected individuals.