Each Friday in June, we are passing the keyboard to one of our readers to share perspective from the field.
This week, Ron Davis weighs on on a classic business conundrum in deepwater.
The drilling contractors have, in an effort to downplay the daunting oversupply (and possibly drive down distressed asset values), often stated they suspect some drillships will never work again. As an industry, we need to purge these ships (or clearly demonstrate effective supply in order to tighten availability) so that we all benefit from a reduced supply.
There’s a lot more to this story…
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