Evercore’s latest Virtual Energy Industry Leaders Webinar sees James West – Senior Managing Director & Partner of Oil Services, Equipment & Drilling Fundamental Research at Evercore ISI, New York – interview Westwood’s Head of RigLogix, Terry Childs on the outlook for offshore drilling in 2020.
The world has flipped unlike anyone has ever seen, since Terry and James spoke last in their January podcast, and this will be a great opportunity to hear the latest on the offshore markets before the Offshore Drillers kick off their earnings season
To listen to the podcast, simply click play below or download the audio file, here.
- Fundamentals for offshore drilling, equipment and services are not supported at current commodity prices
- Capex is collapsing with the ~30% reduction in global spending, with drilling programs deferred and contracts terminated
- Jackups and floaters are equally at risk, with COVID-19 potentially a lagging impact on crew changes and other operations
- Dayrates are at risk with operators requesting concession across all service and product lines
The “Virtual Energy Leaders Webinar Series” was recorded by, and supplied courtesy of; James West at Evercore ISI, New York on 28th April 2020.
