I’m writing this because someone in the future will see this just like i did.
First of all, when i did the research of Seadrill prior to reading this article, I’ve recently learned that they declared for bankruptcy in 2018 and is currently not a profitable company that is still in about $7-8 billion debt despite recovering last year and renewing maturity dates on most loans. On the other hand, BCP stocks tumbles on the London stock exchange, investors are losing faith in the company and their not profiting either.
I say this to say is that The Bahamas government public debt is $8billion and counting, and doing business with unprofitable companies in a sector in the industry that has seen rapid downturn in profitability since oil prices dipped in 2014, no previous experiences drilling in the country, and whom environmental activists are nowadays are heavily against amidst the problems we deal with globally relating to climate change.
It’s sounds promising if everything goes right which im not doubting it will, but the cons greatly outway the pros and that’s where the real problem lies.
Hurricanes are getting stronger every year and the country’s chances of being affected by it is high every year.
To have an oil rig in our oceans that can be affected by a Cat 5 storm is something to consider.
To be another country contributing to pollution and global warming also is.
We may be able to pay of our debt off, and create new jobs, and a better living economy, but is is worth the price of future devestations?
YoungInvestor says...
I’m writing this because someone in the future will see this just like i did.
First of all, when i did the research of Seadrill prior to reading this article, I’ve recently learned that they declared for bankruptcy in 2018 and is currently not a profitable company that is still in about $7-8 billion debt despite recovering last year and renewing maturity dates on most loans. On the other hand, BCP stocks tumbles on the London stock exchange, investors are losing faith in the company and their not profiting either.
I say this to say is that The Bahamas government public debt is $8billion and counting, and doing business with unprofitable companies in a sector in the industry that has seen rapid downturn in profitability since oil prices dipped in 2014, no previous experiences drilling in the country, and whom environmental activists are nowadays are heavily against amidst the problems we deal with globally relating to climate change.
It’s sounds promising if everything goes right which im not doubting it will, but the cons greatly outway the pros and that’s where the real problem lies.
Hurricanes are getting stronger every year and the country’s chances of being affected by it is high every year.
To have an oil rig in our oceans that can be affected by a Cat 5 storm is something to consider.
To be another country contributing to pollution and global warming also is.
We may be able to pay of our debt off, and create new jobs, and a better living economy, but is is worth the price of future devestations?
On Oil explorer in total certainty on $25m well
Posted 1 December 2019, 6:15 p.m. Suggest removal