Troy and Strass: Should have read your posts before I replied to midtieroil. I didn't have to reply... You two did it better, Seems we are on the same page on Grandurs decision.
The consipiracy theory was really directed towards others, not you, who seem to think there is a conspiracy under every rock they overturn.
As far as the other issue on Grandur making a mistake, yes it's my opinion. But the thing you seem to be ignoring is you can't contract a drillship for a single slot and you must pay mobilization and demobilization costs for getting the ship to the location. If you start talking about 5 slots or 10 slots you are then talking of savings of $100 million dollars or more by not contracting a rig when rig costs were at their peak. So I'm still going to side with Grandur on this one.
Here's an interesting article from Exxon where the Exxon CEO seems to agree with Grandur as well.
Exxon CEO...falling costs seen as boding well for capital plans... Falling costs seen as boding well for capital plans
Exxon CEO: May Be Able To Achieve Capex Plan On Lower Costs
WASHINGTON -(Dow Jones)- ExxonMobil (XOM) Chief Executive Rex Tillerson Thursday said that falling costs may positively impact it's capital expenditure plans. Speaking on the sidelines of an event here, Tillerson declined to give details on how or if the oil giant would adjust its capital expenditure plans as a result of oil prices plunging from record highs last year - which have pushed down industry costs but also curtailed the company's income.
The company has said it plans to spend $125 billion over five years on projects.
"At this time, all of our projects and programs are moving forward on track, we've not canceled anything, we've not curtailed anything, because we didn't plan those projects for $150 oil," Tillerson said.
"We've been largely unaffected by it, other than the broad effect on the industry and on some of our partners," he said.
While he declined to elaborate on how the fall in costs could adjust the company's guidance, he said, "We're certainly seeing opportunities there; we're hopeful that we'll be able to carry out the same program, but well get it at a lower cost."
Tillerson said that if there were any adjustments, they would be announced at an investors' meeting in March.
The Exxon CEO said he expected the current economic downturn to be temporary, "and when economic growth returns, we will see strong energy demand return, especially from the developing world." He didn't elaborate on the timing of the expected rebound.
News 
Market Data 
Discover 
AI
