Years of Offshore Investments Could be Valueless
With current oil prices – shale is in pain and many drillers struggle. But many offshore operators swim in red ink. Just like the public purses of many OPEC countries a dripping in red ink as well. And that’s the competitive edge shale has. It’s like those Chinese family restaurant businesses. When times are tough, everyone chips in and does what needs to be done to cut corners. Not so in offshore, not so in OPEC bureaucraties.
