RE:RE:Industry shellshocking newsIt looks even worse when opening up and looking at financials.
CWC only had 40m in debt...not massive.
Book value was 250m and nothing was inflated as CWC bought USA rigs at a low price and all service companies have dep. hard.
CWC has 62 service working but over 70 more not active.
lol cant these rigs be sent for scrap metal or even refubiushed and sent to south america.
I am shocked Total Energy services doesnt make a higher bid like 170-190m.
Total doesnt have much debt only 2m and could swallow this easily.