Depends on a bunch of factors (region, rig type, number of rigs, access to labour, etc). I imagine that the stagnant rig count in the US would make it difficult. The cost discipline in the industry has been well maintained if that matters much. Plus rig efficiency is way better than I would have expected 5 years ago.
I honestly have no opinion. Looks like the market doesn't think they get through the slowdown. The numbers on TIKR say less than a 2 million market cap with a 170 million enterprise value.
what are perspectives of Independent contract driling?
Depends on a bunch of factors (region, rig type, number of rigs, access to labour, etc). I imagine that the stagnant rig count in the US would make it difficult. The cost discipline in the industry has been well maintained if that matters much. Plus rig efficiency is way better than I would have expected 5 years ago.
Hope that helps.
I meant the stock Independent contract driling 😀
what are perspectives of the company ?
Lol ah, got it.
I honestly have no opinion. Looks like the market doesn't think they get through the slowdown. The numbers on TIKR say less than a 2 million market cap with a 170 million enterprise value.
https://www.cnbc.com/2024/09/26/oil-prices-little-changed-as-us-stockpile-drop-offsets-global-demand-woes.html
careful with oil........
Agreed. Lots of negativity around oil. Many reasons to be bearish.