Do you have an estimate of what fraction of ESV’s dayrate money on this rig would flow back to COP as an offset to its cancellation penalty? (I presume it’s not a full dollar-for-dollar reduction.)
Perhaps more important, does COP’s complete exit from deepwater projects make economic sense from a long-term perspective, IYO?
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.