“Given the recent onset of this sharp reduction in commodity prices, we do not expect that any near-term improvement in oil prices will cause operators to alter much of what they are planning in 2015. We are preparing for an extended downturn until the environment changes in a sustainable way.”
Bad new or good news depending on whether you are a seller or a buyer from Tidewater chief executive Jeffrey Platt who is not figuring on oil prices recovering until the second half of 2016 or 2017.
