The most efficient and modern drilling rigs are not the ones that get moth balled . The most efficient , well managed and funded producers are not the ones that go bankrupt when the oil price crashes.
The buyers of the distressed assets that end up in the hands of liquidators get to reset those assets at a lower cost of capital and greatly improve the project economics .
The Capitalist free enterprise system at its ruthless best . Red in tooth and claw .
BYE Price at posting:
14.5¢ Sentiment: Buy Disclosure: Held
