The OSV companies are always over leveraged and pay their executive WAY too much. They have been nothing but get rich scams for the owners, been that way for 40 years I know of. A stockholder has to know that investing in a OSV company or any drilling contractor is not a long term investment. They also need to ignore pretty much anything the CEO says.They live on borrowed money, pay themselves stupid amounts of money and then when things slow down the bond holders get a hair cut and the stock holders get 0. All that said, I made money from drilling companies stock years ago but wouldn’t invest a penny with them now. Shorting RIG about the same time as the Horizon disaster made my retirement.
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