'At the moment in Aberdeen all the service companies are hungry for work. A lot of the "big" contracts for the majors are moving out to the right so there is a " what can we get in at the moment to keep the wheels turning attitude. Anything will be considered. A year or so Bentley wouldn't have warranted a second glance with this "partnering agreement" -set up. As there was higher exposure and risk. Times are different now and 2015 is going to be very tough so any work is good work and anything that has long term profit and a level ROI & cash flow stability has been pounced on by companies who want to keep the machine turning till the "big" jobs come back. In these times you want to keep your good staff occupied and the workshops with something to do so anything can and has been taken seriously. This slump has come at a very good time for Bentley as it has got the service companies interested and Im sure that with the slowdown in drilling the may be able to negotiate very good rig, tanker and FSO rates. 2015 is going to be a pivotal year for XEL and also for the North sea industry as its been about 20 years since we have had a plunge like this and a lot of management has never seen this before so don't know how to react - its the older steadier heads in companies like XEL who have seen this before will both weather the storm that's coming and benefit from it best.'
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.