Industry Optimism Amid Current Decline

Posted
Matthew Rigdon, Executive VP and COO

JOO At Rig

Since mid-March, when COVID-19 was declared a pandemic and Saudi Arabia initiated an oil price war,┬áthe industry has been anticipating a precipitous short-term decline in deepwater activities. Though WTI has crept up into the high $30 range, even eclipsing $40 briefly, we are now seeing the effects of the plunge in oil prices on deepwater…

Low Oil Futures Slow Clean Energy Development

Posted
Matthew Rigdon, Executive VP and COO

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The recent collapse of oil to below zero was not driven by fundamentals in the supply and demand of oil. Rather, it was a function of oil traders and speculators having to sell their way out of a badly timed trade. The speculators that own oil delivery contracts have no intent of taking delivery of…