daleyd
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- Messages
- 10,442
- Location
- Wrexham, North Wales
Yes I appreciate that was a sweeping generalisation though taken as a whole I'm sure the industry is still making money which was kind of my point.Some are not actually making money, depending where the oil is being produced, for example lifting costs in the north sea average around 50 dollars a barrel, saudi down as low as 9. So at these prices really only land based stuff or really shallow water where costs are low will be making money.
As for drilling new or re rilling older stuff......there will be huge cuts here. It costs about 45 million dollars to complete a new deep water oil well. Thats without the infastructure to get the stuff to surface. Anything deep water is not viable at less than about 85 bucks per barrel. And most of the big finds left are all deep water. Total cost to develop a new deep water field with all its associated issues, topsides kit, subsea infastructure etc would be in the 20 billion bracket these days.
There was money to be made like this contracting, but what they dont tell you is to make it they are not working your normal equal time.....theyll be doing 6 or 8 weeks on maybe 2 off. Or office based working 5 days but paying their own costs.
In reality there are tossers in every industry just the contract oil game seems to attract more than usual.
As for boat owners there are plenty well off tossers in that world too. The man in charge of a rig is called the OIM, salaries are high but they have a lot of responsibility, place i used to work for had 160 folks on board, and produced 225000 barrels a day. I know exactly how much he was on too, as i saw his promotion letter, in one of our closed door, help how do i motivate these beep beep people with no fathers.
Note, i have 25 years offshore experiece in oil and gas, and 45 years sailing experience. On the boating front i should add based on experience " if it flys, floats, or has sex, it should be rented"