News: WOR Worley Announces Maintenance And Integrity Contract For PDO Assets, page-6

IMO conditions have not materially improved from February given the vaccine rollout in Europe. I think the market is actually pricing Worley pretty fairly but only looking at a short term horizon. It’s a pain because if this thing had less debt it would have been taken out already. Being seemingly unable to report any hard $ values for these contracts doesn’t help either. I think it may be due to the lag between signing, progress and payment but this is a long term we unfortunately.

While I only bought the stock last year things would be so much worse if they hadn’t spent the last three years trying to go in this direction.

Worley has always struggled to seperate itself from the oil price, now has to seperate itself from oil altogether and somehow convince the market it doesn’t carry the same risk as other industrial companies in this area.