Em análise, Rystad Energy indica que empresas vão perder até US$ 3 bilhões com cancelamento de contratos de perfuração

Rystad Energy Analysis Indicates Companies Will Lose Up to $3 Billion Due to Cancellation of Drilling Contracts

Written by Roberta Souza

Published on 13/04/2020 at 10:31

fonte: reprodução

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An analysis released by Rystad Energy indicates the murky scenario that drilling companies will face in 2020 and possibly 2021. Rystad estimates that they will have up to 10% of their contract volumes canceled in 2020 and 2021, representing a combined loss of around US$ 3 billion in revenue.

According to Oddmund Føre, Offshore Market Services Director at Rystad Energy, “More than US$ 22 billion in contract value was swept away as a result of cancellations between 2014 and 2017. Now, at the beginning of a new slowdown, a market that was just starting to return to healthy levels of contracting activity and day rates has seen its hopes crushed.”

In its analysis, the consultancy predicts greater difficulty for drillers compared to the 2015 crisis. Such companies, as well as those providing offshore vessels, will not be able to pay their total outstanding debt for 2020 based on cash flow from operational activities (CFO), unless they make cuts to CAPEX. Otherwise, only the capital markets will relieve, moving towards refinancing.

The consultancy recalls that during the 2015 crisis, many companies canceled drill rig contracts and subsequently re-contracted the units at lower rates. Unlike what is seen now, which are extensions. Rystad estimates that the same will not happen again (drill rig rental rates have increased in recent months) and that the savings for them would be small if they canceled and re-contracted the unit.

Rystad Energy Analysis Indicates Companies Will Lose Up to $3 Billion Due to Cancellation of Drilling Contracts

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