Concerns rising over O&G impairment

Choppy waters: Among the hardest hit during the fourth quarter were the jack up drilling companies that are highly exposed to the downturn in the upstream exploration segment.

Weak charter rates, lack of new contracts hurt firms in upstream exploration segment

THE latest round of earnings results for oil and gas (O&G) companies during the fourth quarter of last year underscores the growing concerns that are emerging in the industry.