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wizs

43 Posts.

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21/01/19

11:29

Post #: 37173581
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Originally posted by BobbyKennedy: ↑

I'm pretty sure the offshore is included in that data but the numbers are far less than the onshore shale rigs so it's not very telling (as I mentioned).

The real tell will be forward looking CAPEX estimates by O&G players on new exploration and development projects. I do believe that with the very strong gains in oil last year that companies would have reallocated new funds to exp and dev so if the revenue to SDA is trailing by x months, then we may see the fruits from CY18 in this report. The weak CY17 may have led to the weak report last period. Just a guess. I'm only holding this ATM as I think it'll be taken out so I haven't gone too deep into the numbers.

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https://ihsmarkit.com/products/offshore-oil-rig-data.html this is for offshore rig count

SDA Price at posting: $3.01 Sentiment: Buy Disclosure: Held
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