Knocking on Doors in Louisiana


#1541

Offshore Drillers Still Seeking Recovery Enjoyed by Shale
by Bailey Lipschultz

Offshore companies need oil prices ‘well over $60 a barrel’
Bloomberg Intelligence Offshore Index down 5% Monday
While oil drillers in U.S. shale basins are starting to see business come back, their offshore brethren will have to wait for prices to surge well above $60 a barrel.
U.S. offshore operators like Diamond Offshore Drilling Inc. and Atwood Oceanics Inc. are down more than 15 percent in the last month, as companies focus on onshore oil that reaps better returns. With oil trading near $53 a barrel, firms are looking toward booming plays like the Permian Basin in West Texas and the Scoop and Stack formations in Oklahoma, according to Marc Edwards, Diamond Offshore’s chief executive officer.
“From an operator perspective, they still have choices as to how they deploy their capital. And, of course, I think, we all understand that right now competing with the unconventional place is quite difficult from a deepwater perspective,” Edwards said. “In the short run, if oil stays in a range bound, let’s say $50 to $55, I think you’ll see our clients’ capital still have a propensity to be to deployed to unconventional light-tight

Members in the Bloomberg Intelligence Global Offshore Drilling Competitive Peers Index sank 5 percent Monday. As demand continues to fall and the number of idle rigs rises, the offshore drilling industry remains a few years away from a rebound, Atwood Oceanics management said on a call with investors and analysts.
“The idea of $60 oil pushing producers to go offshore might be optimistic, ” David Anderson, an analyst at Barclays Plc, said by phone. “Even though the costs and the time to market have come down, offshore is nowhere near as enticing as onshore drilling.”
Onshore Recovery
While offshore drillers are using the same number of rigs as a year ago, onshore focused companies are continuing to add rigs and expand production. U.S. drillers are continuing to boost production, adding 267 rigs in the last eight months, according to Baker Hughes Inc. data reported on Friday.
The boosted business is welcome news to companies that supply the gear for the onshore recovery, including National Oilwell Varco Inc. For the first time in more than a decade, the biggest U.S. maker of oilfield equipment generated more sales from land gear than it did from offshore in the final three months of the year. The Houston-based company rose as much 7.8 percent on Tuesday after reporting fourth quarter results that beat analysts’ expectations.
“I’m glad 2016 is behind us,” Clay Williams, chief executive officer at National Oilwell Varco, told analysts and investors Tuesday on a conference call. “In the fourth quarter, we benefited from rising momentum in North American shale plays in particular, which we expect to accelerate.”

The Permian Basin has seen production double and a jump in merger activity as companies that are operating in the region are taking advantage of breakeven levels that are much lower than their deepwater competitors.
“What we’re seeing, especially today, is a recognition that onshore and offshore drilling are in two separate cycles that are moving at very different paces,” said Anderson.


#1542

[QUOTE=Emrobu;195995]Blue? no. but you’re on the right track.[/QUOTE]

Wow whatever those stories are about britts not blushing definitely false! I have heard that many of the offshore britts tend the blush and get rather flushed actually when recounting or even just mentioning bits of their tales of their very warm and upclose personal encounters with her. These are all rumors of course…

The gris gris was originally just for hornbeck. It started at the bottom of lake pontchartrain and the water carried it and made it stronger. I didn’t realize it was gonna affect everybody. In hindsight I’m glad I did it : D

I guess I am that one witch everyone says I am. :stuck_out_tongue:


#1543

The gris gris was originally just for hornbeck. It started at the bottom of lake pontchartrain and the water carried it and made it stronger. I didn’t realize it was gonna affect everybody. In hindsight I’m glad I did it : D

I guess I am that one witch everyone says I am. :stuck_out_tongue:


#1544

Fantastic news that lease sale couldn’t be coming at a better time.


#1545

Trump promis to remove most regulations that govern Oil & Gas drilling and exploitation, both onshore and offshore, but is it going to bring back jobs for Oilfield workers and Mariners?

The Oil companies doesn’t seams to think so: http://www.reuters.com/article/us-usa-trump-oil-regulation-insight-idUSKBN16U1A9


#1546

Companies show increased interest in Gulf Oil Drilling


#1547

#1548

Good news, finally.
Two mariners that were previously employed with ECO, and stayed at my B&B numerous times happen to both call me a couple of weeks, ago, on the same day.
We all know it’s been awhile since the industry has had to cut back on employees.
But, the most awesome news happened last week when one of these guys got employed with a major company as the Master on a boat going out for 60 days.
The other mariner took a yachting job for 6 weeks and will check back, when he returns.
It may not be happening as fast as it used to, but it has started happening, again.
Wishing all of you the very best.

Claudette L. Pitre
A Chateau on the Bayou B&B
www.achateauonthebayou.com


#1549

Edison Chouest Offshore extends alliance with BP for services in the Gulf of Mexico


#1550

Hey I just had the same exam experience with the Marsec trading thing. Your messages here are the only support I can find online of it happening to someone else. I’m hoping they resolve it for me. Any advice? I didn’t end up with anything but a notification saying I got 2% right (which I know is impossible) and the failed screen.

Any advice would help I don’t have money or time to take it again.


#1551

As a guy with no experience badly wanting to get into this, it sounds like it’s a bad time. If knocking on doors has gone cold, is the 9-month SIU apprenticeship the next best option?


#1552

The best option would be to spend the next couple of years driving truck or doing construction work or working in a shipyard.


#1553

Learn a trade or get a degree. The maritime industry is dying.


#1554

It will come back


#1555

The USCG licensed job market will eventually improve for a few years, but it will never be “back”. It will continue to decline over the next 50 years just as it has over the last 50 years.


#1556

Very informative thread.


#1557

You can always watch the Military Sealift Command recruiting page - they’ll post jobs up there maybe once a quarter if they get the $$$$ budgeted. As long as you don’t mind not having a personal life, you’ll see a lot more of the world then with any one else I guess.


#1558

Saw that ECO is taking apps for OS/Riggers. with documents.


#1559

TRUMP PLAN WOULD OPEN NEARLY ALL OF THE GULF OF MEXICO TO OIL DRILLING!

Had to share the best news in a long time.

Claudette L. Pitre
A Chateau on the Bayou Bed & Breakfast
3158 Hwy 308
Raceland, LA
985 537 6773
www.achateauonthebayou.com


#1560

Good news, but first drilling in new areas is years away. Trump may be gone and it may reversed by a new President before it can happen.