Comments on: The Situation Now and in ‘09 http://blogs.oilandgasinvestor.com/leslie/2008/12/15/the-situation-now-and-in-09/ Leslie Haines covers recent deals announced, politics as they affect the oil industry, and shares what she hears in her travels. Sat, 11 Feb 2012 05:21:02 +0000 http://wordpress.org/?v=2.6.2 By: Nitin Bhasin http://blogs.oilandgasinvestor.com/leslie/2008/12/15/the-situation-now-and-in-09/#comment-298 Nitin Bhasin Tue, 16 Dec 2008 03:58:24 +0000 http://blogs.oilandgasinvestor.com/leslie/?p=61#comment-298 Hi Leslie I have been reading in order to write a note on the industry lately. What stands out is that not once but thrice in last 12 years when the oil prices fell by 40-60%, offshore rigs fell by 20-40% in the following 12-18 18 months. Even after the oil started moving up rigs continued to fall. I believe despite all the talk that this time it is different as oil demand will significantly go down, i believe utilisations will come significantly as noen of the last three time in 12 year ever did rigs were added in such abundance. Nitin Hi Leslie

I have been reading in order to write a note on the industry lately. What stands out is that not once but thrice in last 12 years when the oil prices fell by 40-60%, offshore rigs fell by 20-40% in the following 12-18 18 months. Even after the oil started moving up rigs continued to fall. I believe despite all the talk that this time it is different as oil demand will significantly go down, i believe utilisations will come significantly as noen of the last three time in 12 year ever did rigs were added in such abundance.

Nitin

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