PPRuNe Forums - Surviving the oil slump

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terminus mos

11th Mar 2015 11:18

CHC and Bond are both offering brand new helicopters now not needed by some oil companies at bargain rates, short or long term contracts. Milestone Leasing (now GE) LCI and Waypoint all stuck with soon to be delivered new helicopter inventory looking for customers.

This oil and gas companies that are smart will be taking advantage of the lower rates and drilling for the long term future using lower cost assets and lower cost daily rates. Now is the time to lock in a long term contract deal with providers.

212_Nightdipper

11th Mar 2015 13:35

Hello folks, I heard from the grapevine that NHS is not doing so well and it is about to shut down all business before the end of the month if they dont find some investors...Shame:(

Fareastdriver

11th Mar 2015 14:03

I hope not. I've got an eye appointment next month.

Same again

11th Mar 2015 16:48

That's just a rumour Fareastdriver. I have it on good authority that NHS will continue to operate until at least after the general election.

cyclic

11th Mar 2015 20:23

Quote:

This oil and gas companies that are smart will be taking advantage of the lower rates and drilling for the long term future using lower cost assets and lower cost daily rates. Now is the time to lock in a long term contract deal with providers.

Thanks for the top tip. You mean when there is over supply the price goes down. Hardly Swiss banking is it, or even HSBC for that matter :ugh:

Variable Load

11th Mar 2015 21:45

Cyclic, please don't feed the troll :E

terminus mos

11th Mar 2015 21:56

Quote:

Thanks for the top tip. You mean when there is over supply the price goes down. Hardly Swiss banking is it, or even HSBC for that matter

But Cylic you see, some companies look to expand in a down cycle. All around there are lowering rates, spare aircraft and the talk of redundancy. My company has just taken on 2 additional rigs and 3 aircraft which is surely good news.

Fareastdriver

11th Mar 2015 21:57

As helicopters are a minor part of the transport costs which are a minor part of a drilling project I don't think there is going to be rush for the over supply.
Even in Klondyke periods helicopter contracts are just a beancounter's exercise.

Ian Corrigible

12th Mar 2015 02:28

More on the majors taking the opportunity to secure good deals in a weak market: Bristow weighs up substantial fleet order

I/C

nowherespecial

13th Mar 2015 11:58

They (BRS) can have some of CHC's... They have plenty of spare!

Ian Corrigible

22nd Apr 2015 12:23

Despite the earlier optimism from UTC, Sikorsky is now feeling the pinch from the lower oil prices, which are predicted to persist through the end of the decade.

Quote:

Sikorsky's first-quarter operating profit dropped 11 percent on a 7 percent fall in sales, according to results released on Tuesday. Commercial sales tumbled 26 percent.

The prime culprit? The decline in oil prices. A huge chunk of Sikorsky's nonmilitary business is for oil industry customers shuttling workers and equipment to offshore rigs. Moves by oil companies to cut back on expenses are affecting the helicopter industry.

"We are seeing pressure from the oil and gas segment," Paul Lundstrom, United Tech's vice president of investor relations, told analysts on a conference call.

Lundstrom called the quarter a "slow start" for Sikorsky, but added it was too early in the year for the company to cut financial forecasts.

I/C

muermel

4th Aug 2015 17:18

Now that I've got the money together for the IR the offshore-industry has tanked, great :ugh:

I'm looking at doing the FI(H) instead. I'm German, willing to work wherever it takes me.

I've shortlisted 2 schools in Germany (HeliTransair, Heli Aviation), also Helicentre (UK) and Sloane (both were recommended to me) and HeliCentre (NL).

Any hints, recommendations, advice about these schools? Which one is most likely hiring after all the training? Have I forgotten another school?

Thanks in advance for any help :ok:

Hughes500

5th Aug 2015 19:43

well i think it is great at the moment, jet fuel down 20 p per litre so far this year

EESDL

5th Aug 2015 20:38

Cheapest Jet Fuel in UK is in Yorkshire......

Now all I need to do is find a chopper!

GoodGrief

6th Aug 2015 08:34

Plenty of choppers for sale in Yorkshire.

http://git.me/photo/2015/08/05/21956...WAP-PX-WHY.jpg

terminus mos

2nd Sep 2015 09:29

Bond Australia Cuts

A friend of mine in Australia just sent a text that he and others have been made redundant by Bond Australia. He says Bond Australia has made 20+ Pilots redundant from the S-92 and 225.

Shame for those guys as many left more secure employment to join Bond as a new start up in Australia only 18 months ago so their accumulated redundancy payments will be almost nothing.

ersa	2nd Sep 2015 15:55

Terminus mos,

I have 2 friends working there, have all the pilots been laid off , they come across from CHC, have Bond Lost the contract or just slowed ?

Evil Twin

2nd Sep 2015 23:42

Those 92's have never turned a blade on revenue work. As far as I recall they had an order for another two for delivery 2nd half of 2015.

Tough times as they're a good bunch of guys.

lowfat

3rd Sep 2015 09:00

Bond Aus sounds like the other financial bond disaster.... NHS what a waste that was

Ian Corrigible

5th Nov 2015 11:59

Helicopter operator Era Group in oil-field squeeze

Quote:

[Era Helicopters] to cancel or defer almost three-quarters of its existing order book...$127 million of $175 million in capital commitments...including deals with Sikorsky and AgustaWestland.

I/C

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