In March, STX estimated it'd cost $19.2m.
Now it comes in at $30m.
Is this material for a $1bn company? Probably not.
However - as a shareholder I would have appreciated an announcement saying that construction is running slower than expected and is going to cost more.
On the bright side, learning these lessons with Walyering is much cheaper than making the mistakes with SE.
- Earlier permitting
- Offshore fabrication
- Traditional EPC rather than inhouse
Ann: Walyering Production Update, page-21
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