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Thread: Seahawk Drilling seeks bankruptcy, to sell assets

  1. #31
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    Re: Seahawk Drilling seeks bankruptcy, to sell assets

    Quote Originally Posted by Catawba View Post
    When we subsidize them both directly and through debt for a war to increase their dwindling product reserves.




    This is nothing new. This has been a method of funding regulatory oversight through user fees rather than increasing public taxes. Which do you want? You can't have your cake and eat it too!



    How about when war is not required as part of our energy program?



    No, I am saying that without sustainable energy, the economy will fail.




    None of that makes any since and certainly doesn't come close to reality.

    especially this,

    Peak oil killed their jobs.
    Care to prove that, BTW? I'm betting, no.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: Seahawk Drilling seeks bankruptcy, to sell assets

    Quote Originally Posted by apdst View Post
    None of that makes any since and certainly doesn't come close to reality.
    I'm sure it doesn't, to you.
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

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    Re: Seahawk Drilling seeks bankruptcy, to sell assets

    Quote Originally Posted by Catawba View Post
    I'm sure it doesn't, to you.
    It doesn't make ssense to anyone. Anyone that lives in the real world, anyway.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

  4. #34
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    Re: Seahawk Drilling seeks bankruptcy, to sell assets

    Catawba;1059289098]What do you expect me to do about it? Carter had set up programs that would have had us independent of foreign oil today if Reagan hadn't scrapped it. If you want to blame someone, that is where the fault lies.
    Shruggs shoulders, see this is the problem I have with liberals, rather then talk about fixing the problem, when faced with a direct question, you just go back to the tired old blame game, and that is your solution, it's also the solution of too many in Washington.

    Sorry, but you don't know what you are talking about. I worked in pollution control and safety and environmental impacts feature prominently in the permitting process.
    Quite simply that is just pure fabrication on your part, the people that design the plants, submit the drawings, are well aware of what is needed as far as safety goes, the job of the people issuing the permits is to be sure that all safety requirements are in the plans and specs. The permitting process taking 3 to 5 years, is just government red tape, nothing else.

    The public, despite warning from both parties in the government, the oil companies themselves, and the military, remain largely ignorant of the coming turmoil resulting from peak oil. A carrot (tax credits) seems more appropriate encouragement than a stick (economic hardship) I believe.
    This is just something we will have to disagree on, in your mind your feel the government must take care of people because they can't think for themselves, in my mind people are responsible enough to take care of themselves. If bad choices are made, they they suffer for them, just as they are rewarded for good choices. I'm not weak minded enough that I feel I need cradle to grave care by anyone, including our government.

    Democrats, not liberals, control one house of Congress.
    -chuckles- well I certainly wouldn't can them conservatives ... would you ?

    Doesn't matter as the oil companies say it is not a solution.
    I don't recall I ever said it was a solution, but it could be a temporary fix until a solution is found, and you keep side stepping the question, who is it that have closed down the drilling on our own soil, that could do nothing but "help" the situation we are in?


    Its not worth risking our largest natural wildlife reserve and global warming for one years worth of oil.
    [/QUOTE]

    Well then I guess your answer is to just give up, seeing there is no solution in sight on alternate energy, We are down to 4 years of oil even using your conserve strategy, after that just say f**k it, America is done. Great liberal planning

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    Re: Seahawk Drilling seeks bankruptcy, to sell assets

    Quote Originally Posted by The Barbarian View Post
    Shruggs shoulders, see this is the problem I have with liberals, rather then talk about fixing the problem, when faced with a direct question, you just go back to the tired old blame game, and that is your solution, it's also the solution of too many in Washington.
    If you want to address a problem, it helps to know what caused it. Just sticking your head in the sand over the last 40 years does nothing.

    Quite simply that is just pure fabrication on your part, the people that design the plants, submit the drawings, are well aware of what is needed as far as safety goes, the job of the people issuing the permits is to be sure that all safety requirements are in the plans and specs. The permitting process taking 3 to 5 years, is just government red tape, nothing else.
    "An Environmental Impact Statement (EIS), under United States environmental law, is a document required by the National Environmental Policy Act (NEPA) for certain actions "significantly affecting the quality of the human environment".[1] An EIS is a tool for decision making. It describes the positive and negative environmental effects of a proposed action, and it usually also lists one or more alternative actions that may be chosen instead of the action described in the EIS."
    Environmental impact statement - Wikipedia, the free encyclopedia



    This is just something we will have to disagree on.
    Agreed. The American public will make the decision in any case.


    -chuckles- well I certainly wouldn't can them conservatives ... would you ?
    I believe the term for conservative Democrats is blue-dog Democrats.



    I don't recall I ever said it was a solution, but it could be a temporary fix until a solution is found, and you keep side stepping the question, who is it that have closed down the drilling on our own soil, that could do nothing but "help" the situation we are in?
    The fact of the matter is we can do more through energy conservation than our remaining cheap oil supplies will allow, and we are not adding to GW in the process. We have to think long-term and not continue to choose short-term "fixes" that create worse long-term problems.


    Well then I guess your answer is to just give up, seeing there is no solution in sight on alternate energy, We are down to 4 years of oil even using your conserve strategy, after that just say f**k it, America is done. Great liberal planning …
    Not at all. We have the capacity to conserve more oil than we get from the ME, which would free up the trillions we are spending on wars to keep the oil flowing that could then be used to help build our clean energy infrastructure. Passive solar design, for example, is not a new concept. The construction of passive solar buildings date back at least as far as our Colonial period. There is much that can be done to conserve our energy needs with known technologies and concepts that are not being done on a wide scale basis. But because, we have been too complacent over the last 40 years, yes, there will be a price to pay. And the longer we wait to act, the more painful the transition will be. You can't ignore a known problem for 40 years and be all surprised by the consequences of your actions when the pain is felt.
    Last edited by Catawba; 02-17-11 at 10:14 PM.
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

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    Re: Seahawk Drilling seeks bankruptcy, to sell assets

    Quote Originally Posted by WhyteRash View Post
    you mean this Seahawk Drilling?
    Seahawk Drilling: Former Value Trap Becoming an Actual Value - Seeking Alpha

    "Seahawk was spun out of Pride International (PDE) in 2009 and operates 20 jackup rigs in the Gulf of Mexico (of which 4 are currently working, 1 has a permit pending, 1 is cold stacked/in repairs and contracted for the remainder this year, 3 are actively available and 11 are cold stacked). These rigs are primarily used for shallow water drilling of natural gas in the US Gulf of Mexico (GoM)."

    says here the already sucked and had sucked for some time..
    "HAWK already carried a fair amount of uncertainty due to the large number of rigs they have cold stacked, the age of their rigs and their quarterly cash burn ... all problems that are largely derived from the decline in utilization since 2008, when the GoM was running on all cylinders with oil and gas at record highs."

    looks to me like poor management skills, rather than a hold on deepwater drilling which they apparently are no a part of.
    This article completely destorys apdst's arguement, excellent job finding it. Unfortunatly he won't admit any of the other many problems this company had, had anything to do with its current situation and will instead focus on the lack of new permits being issues despite the fact that Seahawk according to that article only has one permit pending.

    For a quick background, Seahawk was spun out of Pride International (PDE) in 2009 and operates 20 jackup rigs in the Gulf of Mexico (of which 4 are currently working, 1 has a permit pending, 1 is cold stacked/in repairs and contracted for the remainder this year, 3 are actively available and 11 are cold stacked). These rigs are primarily used for shallow water drilling of natural gas in the US Gulf of Mexico (GoM).
    See its not the fact that only 4 of 20 are working, or that 11 of 20 are non-operating, its that 1 out of 20 which is obviously the killer of this company. If only they had that one rig they could prop up all the shortcomings of the other 20 which obviously haven't produced enough profits to save this company. Yes, 1 rig will provide enough profit to save another 20.

  7. #37
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    Re: Seahawk Drilling seeks bankruptcy, to sell assets

    Quote Originally Posted by Wiseone View Post
    This article completely destorys apdst's arguement, excellent job finding it. Unfortunatly he won't admit any of the other many problems this company had, had anything to do with its current situation and will instead focus on the lack of new permits being issues despite the fact that Seahawk according to that article only has one permit pending.



    See its not the fact that only 4 of 20 are working, or that 11 of 20 are non-operating, its that 1 out of 20 which is obviously the killer of this company. If only they had that one rig they could prop up all the shortcomings of the other 20 which obviously haven't produced enough profits to save this company. Yes, 1 rig will provide enough profit to save another 20.
    Did you even bother to look at the date of the article?
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: Seahawk Drilling seeks bankruptcy, to sell assets

    Quote Originally Posted by apdst View Post
    Did you even bother to look at the date of the article?
    September 15th 2010. Whats your point that its information is outdated? You're article just says its been hurt by the slowdown in drilling since the oil spill, it doesn't say that if it were not for that slowdown that Seahawk drilling would not be declaring bankruptcy. And in light of the information from the other article I think its clear that the company was probably going under anyway.

  9. #39
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    Re: Seahawk Drilling seeks bankruptcy, to sell assets

    Quote Originally Posted by Wiseone View Post
    September 15th 2010. Whats your point that its information is outdated? You're article just says its been hurt by the slowdown in drilling since the oil spill, it doesn't say that if it were not for that slowdown that Seahawk drilling would not be declaring bankruptcy. And in light of the information from the other article I think its clear that the company was probably going under anyway.
    It's obvious, that if not for the moratorium, the company would have survived.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: Seahawk Drilling seeks bankruptcy, to sell assets

    Quote Originally Posted by apdst View Post
    It's obvious, that if not for the moratorium, the company would have survived.
    O its obvious is it? Despite less than a quarter of their rigs being operational and only one permit pending its obvious? Well you really believe that than by all means don't back it up.

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