2019 Annual Report
Revenue - $1.5 bn
Operating costs - $ 348 mn
Other costs - $ 157 mn
Total costs - $ 505 mn
Cash - $396 mn
Equity - $5.2 bn
Total debt - $3.7 bn
Shares - 5.2 bn
Book value - 28 cents
Average cost of oil 2019 - $56.42
Assumptions for oil at 2020 ~
- Assumed revenue equivalent using oil at an average of $ 30 - $842 mn
- Assumed revenue using oil at an average of $25 - $702 mn
- Assumed revenue using oil at an average of $20 - $561 mn
This now becomes a real worry for OSH.
Total operating costs of $505 mn and debt of $3.7 bn means that OSH is in high risk territory.
To survive they need to 1) reduce operating costs and 2) service the debt - they need to focus on servicing the debt - to do this they will need to work out how to maximise revenue with minimal staff and aim at just servicing the debt. They may also need to top up tapping into the cash reserves.
Good luck to holders - OSH is high risk at the moment. If oil averages in the low $20's for the remainder of the year I cannot see them surviving.
2019 Annual ReportRevenue - $1.5 bnOperating costs - $ 348...
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